Â© Olink acquried by Thermo Fisher at nearly 75% premium following earlier deal rumors
Shares of Olink Holding AB (NASDAQ:) surged 66% higher Tuesday after the company agreed to be acquired by Thermo Fisher Scientific Inc. (NYSE:) for $26 per ADS, or approximately $3.1 billion.
Today’s news follows an exclusive StreetInsider.com report in August that Olink hired investment bank JP Morgan to .
The takeover comes at an approximately 74% premium to Olinkâs closing price on Monday.
Olink seeks to advance proteomics across various diseases and offers a broad portfolio of flexible protein biomarker solutions and library of high quality, thoroughly validated assays that cover ~3000 proteins.
Thermo Fisher expects Olink to deliver $200 million in revenue in 2024 and grow mid-teens organically. In the first, Thermo Fisher expects the transaction to be dilutive to EPS by $0.17, but excluding financing costs and non-cash deal-related equity compensation costs, the transaction is expected to be accretive by $0.10.
J.P. Morgan was the lead financial advisor for Olink. In addition, Goldman Sachs Bank Europe SE and Sweden Bankfilial served as financial advisors and Baker & McKenzie is serving as legal counsel for Olink. Cravath Swaine & Moore LLP and Advokatfirman Vinge KB were legal counsel for Thermo Fisher.