Thermo Fisher Issues Public Notice

• By Zacks Equity Research
• On 10:58 am EDT, Monday October 12, 2009

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Thermo Fisher Scientific Inc. (NYSE: TMO - News) recently began the process of issuing public notice to the holders of Floating Rate Convertible Senior Debentures of Apogent Technologies Inc. that are due in 2033, reminding them of their rights to convert the debentures. Thermo Fisher accepted this debt as part of its acquisition of Fisher Scientific International Inc. in 2006 which in turn acquired Apogent Technologies in 2004.

As per the indenture/agreement, these debentures have now become convertible as Thermo Fisher’s stock traded above the minimum specified price over the applicable measurement period. The debentures can be converted by the end of this year. Thermo Fisher will use its cash or a combination of cash and its common stock to settle the conversion. 

Thermo Fisher is a scientific instrument maker and a world leader in serving science. The company was formed through the merger of Thermo Electron Corporation with Fisher Scientific International Inc. in November, 2006. Thermo Fisher Scientific serves its customers through two principal brands: Thermo Scientific and Fisher Scientific.

Thermo Scientific is the company’s technology brand that offers a complete range of high-end analytical, laboratory instruments, software, services, consumables and reagents to enable integrated laboratory workflow solutions. The Fisher Scientific brand offers a complete portfolio of laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety and education markets.

Thermo Fisher Scientific operates through two business segments - Analytical Technologies and Laboratory Products and Services. The company generated revenues of $10,498 million in fiscal 2008, an increase of approximately 8% year over year. Thermo Fisher’s main competitors are Agilent Technologies Inc. (NYSE: A - News), Beckman Coulter Inc. (NYSE: BEC - News) and Danaher Corp. (NYSE: DHR - News).

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