Mon Jan 6, 2014 9:04am EST
<span id="articleText"> <span id="midArticle_0"/> Jan 6 (Reuters) - Thermo Fisher Scientific Inc said it would sell three of its businesses to General Electric Co's healthcare unit for $1.06 billion, fulfilling a requirement for European antitrust approval to buy Life Technologies Corp.
<span class="articleLocatio/spann"/> The European Union cleared in November Thermo Fisher's $13.6 billion acquisition of Life Technologies, which will make it one of the top two genetic testing companies.
<span id="midArticle_2"/> "The timing of this sale is likely to be a positive surprise for many investors...particularly as it is one of the last pieces of the puzzle for the Life (Technologies) transaction...," ISI Group analyst Ross Muken wrote in a note.
<span id="midArticle_3"/> Thermo Fisher said its cell culture, gene modulation and magnetic beads businesses, expected to have combined revenue of about $250 million in 2013, will become part of GE Healthcare's life sciences business.
<span id="midArticle_4"/> Thermo Fisher will sell a part of its cell culture business that produces liquids supplying nutrients to animal and plant cells grown in vitro to develop antibodies and vaccines.
<span id="midArticle_5"/> GE said it will use the company's magnetic beads products, which are used in microbiology instruments, to add to its existing technologies in protein analysis and medical testing.
<span id="midArticle_6"/> Thermo Fisher's gene modulation technologies will also aid GE in drug research, GE said in a statement.
<span id="midArticle_7"/> Thermo Fisher said it does not expect any more divestures would be necessary to receive U.S. approval for the deal, which is expected to close early this year.
<span id="midArticle_8"/>
<span id="articleText"> <span id="midArticle_0"/> Jan 6 (Reuters) - Thermo Fisher Scientific Inc said it would sell three of its businesses to General Electric Co's healthcare unit for $1.06 billion, fulfilling a requirement for European antitrust approval to buy Life Technologies Corp.
<span class="articleLocatio/spann"/> The European Union cleared in November Thermo Fisher's $13.6 billion acquisition of Life Technologies, which will make it one of the top two genetic testing companies.
<span id="midArticle_2"/> "The timing of this sale is likely to be a positive surprise for many investors...particularly as it is one of the last pieces of the puzzle for the Life (Technologies) transaction...," ISI Group analyst Ross Muken wrote in a note.
<span id="midArticle_3"/> Thermo Fisher said its cell culture, gene modulation and magnetic beads businesses, expected to have combined revenue of about $250 million in 2013, will become part of GE Healthcare's life sciences business.
<span id="midArticle_4"/> Thermo Fisher will sell a part of its cell culture business that produces liquids supplying nutrients to animal and plant cells grown in vitro to develop antibodies and vaccines.
<span id="midArticle_5"/> GE said it will use the company's magnetic beads products, which are used in microbiology instruments, to add to its existing technologies in protein analysis and medical testing.
<span id="midArticle_6"/> Thermo Fisher's gene modulation technologies will also aid GE in drug research, GE said in a statement.
<span id="midArticle_7"/> Thermo Fisher said it does not expect any more divestures would be necessary to receive U.S. approval for the deal, which is expected to close early this year.
<span id="midArticle_8"/>
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