Thermo Fisher Scientific Inc. (NYSE:TMO) reported
weak earnings and slashed its revenue guidance for the year by $400 million as consumer spending stalled, but it said it generated free cash flow of more than $310 million for the quarter. "This underscores the strength of our company, even in these unprecedented times, and gives us the ability to invest for the future," said president and CEO Marijn Dekkers in a statement.
So comes the A$175 million ($120 million)
acquisition of Biolab Pty. Ltd., a provider of analytical instruments, life science consumables and lab equipment for scientific, environmental and healthcare markets in Australia and New Zealand. Biolab is the scientific and medical division of Alesco Corp. The deal is expected to close on Thursday.
Waltham, Mass.-based Thermo Fisher -- a 2008 Corporate Dealmaker of the Year
award candidate -- is constantly looking for bolt-on deals. Last year, it made five acquisitions, six in 2007, and of course the biggest deal was when Thermo Electron Corp. merged with Fisher Scientific International Inc. for about $12.4 billion. -
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