Simpson Thacher is representing PPD, Inc. (Nasdaq: PPD) (“PPD”) in connection with its entry into a definitive agreement to be acquired by Thermo Fisher Scientific Inc. (NYSE: TMO) (“Thermo Fisher”). Under the terms of the transaction, Thermo Fisher will acquire PPD for $47.50 per share for a total cash purchase price of $17.4 billion plus the assumption of approximately $3.5 billion of net debt. Upon close of the transaction, PPD will become part of Thermo Fisher’s Laboratory Products and Services Segment.
Thermo Fisher is the world leader in serving science, whose mission is to enable its customers to make the world healthier, cleaner and safer. Thermo Fisher delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through its industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon.
PPD is a leading global clinical research organization and has been in the drug development business for 35 years. PPD provides comprehensive, integrated drug development, laboratory and lifecycle management services to companies and other participants in the biopharmaceutical industry.
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