Thermo Fisher uses $1.35 billion cash to repay notes in first half of 2018, plans new debt for Gatan purchase

By Wendy Van Sickle

Columbus, Ohio, Aug. 3 – Thermo Fisher Scientific Inc. used $1.35 billion of cash to repay senior notes in the first half of 2018 and is planning to use a combination of new debt financing and cash to fund its pending acquisition of Gatan, Inc., according to a 10-Q filing with the Securities and Exchange Commission.

The company entered into an agreement to acquire the wholly owned subsidiary of Roper Technologies, Inc. for about $925 million in cash. The transaction, which is expected to be completed by the end of 2018, is subject to closing conditions, including regulatory approvals.

Thermo Fisher said it believes its existing cash and cash equivalents of $937 million as of June 30 and its future cash flow from as well as availability under its revolving credit agreement will be sufficient to meet the cash requirements of its existing businesses for the foreseeable future, including at least the next 24 months.

Thermo Fisher is a Waltham, Mass.-based science technology company. Based in Pleasanton, Calif., Gatan is a manufacturer of instrumentation and software used to enhance and extend the operation and performance of electron microscopes.

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