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Olink acquried by Thermo Fisher at nearly 75% premium following earlier deal rumors


© 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 report in August that Olink hired investment bank JP Morgan to .

The takeover comes at an approximately 74% premium to Olink’s 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.

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