Thermo Fisher Reportedly Close To Buying UK-Based Diagnostic Firm For $2.3B

Thermo Fisher Scientific Inc TMO is close to acquiring UK-based diagnostic firm Binding Site from private equity fund Nordic Capital.
The lab equipment and supplies giant is reportedly paying more than £2 billion ($2.3 billion) for the deal.
Binding Site is developing diagnostic products to detect immune-system disorders and caters to clinicians and laboratory professionals.
Also Read: Thermo Fisher Q3 Earnings Beat Street View, With 14% Organic Sales Growth.
The agreement could be announced as early as this week, Bloomberg reported citing people familiar with the matter.
The deal would mark a revival to dealmaking in Europe, where volumes collapsed this quarter, the report added.
The talks are advanced, but there’s no certainty the deal will go through.
Last year, Thermo Fisher acquired PPD Inc, a provider of clinical and research services, for $17.4 billion. In January, it bought PeproTech, a closely held provider of recombinant proteins, for about $1.85 billion cash.
Price Action: TMO shares closed at $503.84 on Friday.