WilmerHale Represents Thermo Fisher Scientific in Dual Unit Sale and $2.2 Billion Debt Offering

WilmerHale Represents Thermo Fisher Scientific in Dual Unit Sale and $2.2 Billion Debt Offering

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In deals totaling $940 million in cash, WilmerHale represented Thermo Fisher Scientific Inc. in the sale of two of its businesses. Thermo Fisher has entered into definitive agreements to sell Athena Diagnostics to Quest Diagnostics for $740 million and to sell Lancaster Laboratories to Eurofins Scientific SE for $200 million, subject to a post-closing adjustment. Thermo Fisher expects to close these transactions in the second quarter of 2011.

WilmerHale Partner Hal Leibowitz, chair of the firm’s Corporate Practice, led the legal team on both sales. The team on the Athena transaction included Partners Robert Burke, Jeffrey Hermanson, Belinda Juran, Amy Null and Jonathan Rosenfeld; Counsel Stacy Krause; Special Counsel Jeffrey Ayer; and Senior Associate Elizabeth Black. The team on the Lancaster transaction included Partners Robert Burke, Jeffrey Hermanson, Belinda Juran, Amy Null and Jonathan Rosenfeld; Counsel Kari Jorgenson; Special Counsel Jeffrey Ayer; Senior Associate Elizabeth Black; and Associate Kevin Ellis.

Earlier this week Thermo Fisher closed its previously announced debt offering for an aggregate principal amount of $2.2 billion of senior notes. Thermo Fisher plans to use the proceeds of the offering to fund its acquisition of Dionex Corporation, as well as for general corporate purposes. The aggregate purchase price of the Dionex acquisition, which was announced separately by the company, is estimated to be approximately $2.1 billion.

WilmerHale Partner Erika Robinson led the team advising Thermo Fisher on the debt offering. Other members on the WilmerHale team included Partners Julie Hogan Rodgers and John Sigel; Counsel Stacy Krause; and Associate Alex Binkley.

Press releases explaining these transactions in greater deal are available on Thermo Fisher's website.