Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) closed at $157.66 with 1.63 million shares getting traded. Post opening the session at $156.85, the shares hit an intraday low of $156.71 and an intraday high of $158.15 and the price vacillated in this range throughout the day. The company has a market cap of $63.06 billion and the numbers of outstanding shares have been calculated to be 394.26 million shares.
Thermo Fisher Scientific Inc. (TMO) on September 20, 2016 announced that it has completed its acquisition of FEI Company, Inc. (FEIC), the leader in high-performance electron microscopy, for $107.50 per share in cash, or a total purchase price of approximately $4.2 billion. The completion of the transaction follows the receipt of all required regulatory approvals. The business will become part of Thermo Fisher’s Analytical Instruments Segment.
“We are pleased to complete this transaction and officially welcome our new colleagues from FEI to Thermo Fisher,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “With FEI’s leading electron microscopy platform, we’re now in an even stronger position to help our life sciences customers accelerate advancements in structural biology. FEI’s products also create new opportunities for us to serve customers in materials science markets that increasingly rely on nanotechnologies. FEI is an outstanding strategic fit with our Analytical Instruments business and we will create significant value for our customers by leveraging our global scale and commercial reach to extend the use of these technologies. For our shareholders, we expect to deliver immediate earnings accretion and synergies.”
Shares of StemCells Inc (NASDAQ:STEM) ended Friday session in green amid volatile trading. The shares closed up +0.03 points or 2.14% at $1.43 with 1.61 million shares getting traded. Post opening the session at $1.37, the shares hit an intraday low of $1.37 and an intraday high of $1.55 and the price vacillated in this range throughout the day. The company has a market cap of $17.54 million and the numbers of outstanding shares have been calculated to be 12.01 million shares.
On Aug. 16, 2016 StemCells, Inc. (STEM) and Microbot Medical Ltd., a private company organized under the laws of the State of Israel (“Microbot”), announced that they have entered into a definitive merger agreement, with plans to pursue the development of robotics based medical devices for the treatment of cerebrospinal fluid and gastrointestinal disorders, as well as other conditions.
“This transaction concludes an extensive search for strategic alternatives conducted by StemCells since we failed to see robust clinical results in our Phase II clinical study of human neural stem cells in chronic spinal cord injury,” said Ian Massey, the CEO of StemCells, Inc. “We believe both our investors and the market at large will see the potential of Microbot’s robotics platform, specifically its catheter and shunt technologies, and will appreciate Microbot’s overall business opportunities and potential.”
Harel Gadot, the CEO & Chairman of Microbot added, “We are pleased that this transaction will give us a presence in the U.S. capital markets, and we are very excited to continue advancing the development of our proprietary technologies that we believe have the potential to improve the lives of many patients globally. We thank StemCells for its efforts and contributions to improving human health over the years.”