Thermo to Pay $10.6 Billion for Fisher Scientific

Thermo Electron Corp. is paying about $10.6 billion in stock for the larger Fisher Scientific International Inc. in a deal that would create a laboratory supply powerhouse making equipment and materials for the life and health sciences industries.

Thermo Electron would assume $2.2 billion in debt from Fisher in a deal that pairs Thermo’s core business in making reusable scientific instruments with Fisher’s strength producing chemical agents and powders for lab work.

The combined company, which would be named Thermo Fisher Scientific Inc., is expected to have more than $9 billion in revenue and 30,000 employees.

Shares of Fisher Scientific rose $2.22 on Monday to $75.95, while Thermo Electron’s declined 91 cents to $38.54.