Thermo Fisher Scientific Inc. (NYSE: TMO) (“Thermo Fisher”), the world leader in serving science, has announced the successful completion of its acquisition of Olink Holding AB (publ) (“Olink”) (Nasdaq: OLK), a leader in next-generation proteomics solutions. The transaction, valuing Olink at approximately $3.1 billion net of $96 million of acquired cash, will integrate Olink into Thermo Fisher’s Life Sciences Solutions segment.

“We are excited to welcome Olink colleagues to Thermo Fisher,” said Marc N. Casper, chairman, president, and chief executive officer of Thermo Fisher. “Protein research is key to advancing our understanding of human biology and delivering on the promise of precision medicine. Olink’s proven and transformative solutions for proteomics are highly complementary to our leading mass spectrometry and life sciences offerings. By expanding our capabilities in the high-growth proteomics market, we will enable scientists and researchers around the globe to meaningfully accelerate discovery and scientific breakthroughs while delivering significant value to our shareholders.”

The acquisition follows the Purchase Agreement dated October 17, 2023, between Thermo Fisher and Olink. Thermo Fisher, through its wholly owned subsidiary, Orion Acquisition AB (the “Buyer”), has accepted for purchase all outstanding common shares and American Depositary Shares of Olink that were validly tendered and not withdrawn prior to the expiration of the initial offering period. The accepted Offer Securities were purchased for $26.00 per Share and ADS, in cash.

Upon settlement, Thermo Fisher will own approximately 98.2% of Olink’s outstanding Shares. To provide remaining shareholders an opportunity to tender their Shares, Thermo Fisher has commenced a subsequent offering period, which is scheduled to expire at 5:00 p.m., New York Time, on July 16, 2024.

Editor Commentary:

The completion of this acquisition marks a significant milestone for Thermo Fisher Scientific, reinforcing its position as a leader in the rapidly evolving field of proteomics. By integrating Olink’s advanced solutions, Thermo Fisher is poised to accelerate innovations in precision medicine and expand its influence in life sciences. The subsequent offering period provides an additional window for shareholders to capitalize on the acquisition terms, underscoring Thermo Fisher’s commitment to a seamless and inclusive transition. This strategic move is anticipated to drive forward scientific discovery and enhance shareholder value, setting a new standard in the proteomics market.