Market Commentary

Thermo Fisher to Buy Olink in $3.1 Billion Deal

Huzaifa Waseem
6 Feb 2024 · 1 minute read

Thermo Fisher Scientific Inc. (TMO:US), a global leader in scientific services, and Olink Holding AB (OLK:US), a prominent provider of next-generation proteomics solutions, have announced that both companies' boards of directors have approved Thermo Fisher's proposal to acquire Olink at a price of $26.00 per common share in cash. 

This offer also applies to American Depositary Shares (ADS), valuing them at $26.00 per ADS in cash. This purchase represents a substantial premium, approximately 74%, over the closing price of Olink's American Depositary Shares traded on NASDAQ on October 16, 2023, which was the last trading day before the announcement of the acquisition. 

The total transaction values Olink at approximately $3.1 billion, including net cash of around $143 million.

“The acquisition of Olink underscores the profound impact that proteomics is having as our customers continue to advance life science research and precision medicine,” said Marc N. Casper, chairman, president, and chief executive officer of Thermo Fisher. 

“Olink’s proven and transformative innovation is highly complementary to our leading mass spectrometry and life sciences platforms. Our company is uniquely positioned to bring this technology to customers enabling them to meaningfully accelerate discovery and scientific breakthroughs. We look forward to welcoming Olink’s colleagues to Thermo Fisher.”

Olink specializes in cutting-edge proteomics discovery and development solutions, enabling biopharmaceutical companies and leading academic researchers to gain rapid and efficient insights into disease at the protein level. 

Thermo Fisher shares fell 1.3% on the news.

Several Representatives have been trading TMO shares in recent months. Most notably, Senator Markwayne Mullin bought $15,000 - $50,000 worth of stock last month.