Competition Bureau Clears Life Sciences Merger
December 10th, 2013
Thermo Fisher Scientific Inc. can proceed with its acquisition of Life Technologies Corporation after the Competition Bureau issued a No Action Letter on December 5, 2013, indicating that the Commissioner does not intend to challenge the deal.
Both Thermo Fisher and Life Technologies are active in the production of life science products such as lab instruments and consumables.
The European Commission recently obtained a remedy with respect to this merger. Under the terms of the agreement with the EC, Thermo Fisher Scientific Inc. has agreed to divest business producing and supplying cell culture sera, media products, gene silencing products and magnetic bead products. This agreement, among other things, led the Bureau to conclude that the proposed acquisition will not substantially lessen or prevent competition.