Simpson Thacher Represents Barclays in $3 Billion Bridge Financing to Thermo Fisher Scientific and as Financial Advisor in Connection with Thermo Fisher’s Acquisition of Phadia From Cinven
05.20.11
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The Firm is representing Barclays Capital in connection with $3 billion in bridge financing to Thermo Fisher Scientific Inc. (“Thermo Fisher”) and as financial advisor to Thermo Fisher in its announced acquisition of Phadia for €2.47 billion (approximately US$3.5 billion) in cash. The proceeds of the credit facilities may be used to finance a portion of the acquisition and to refinance existing indebtedness.
Thermo Fisher, the world leader in serving science, has over 37,000 employees and serves customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as in environmental and process control industries. Phadia, based in Uppsala, Sweden, develops, manufactures and markets complete blood test systems to support the clinical diagnosis and monitoring of allergy, asthma, and autoimmune disease.
The Simpson Thacher team included Patrick Ryan, Chase D’Agostino and Brian Chernoff (Credit); Maripat Alpuche and Alfredo Porretti (M&A); Ken Wallach (Capital Markets); Jonathan Goldstein (Tax) and Genevieve Dorment (Intellectual Property).