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Olink's (OLK) Acquisition by Thermo Fisher Gets UK CMA Nod
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Olink Holding AB (OLK - Free Report) announced that the UK Competition and Markets Authority (CMA) has unconditionally approved the tender offer by Orion Acquisition AB, a subsidiary of Thermo Fisher Scientific Inc. (TMO - Free Report) . The offer price is set at $26 per share and includes all outstanding Common Shares and American Depositary Shares of Olink.
Following this approval, Olink and Thermo Fisher anticipate completing the deal shortly after the offer's expiration on Jul 9, 2024.
More on the Acquisition
On Oct 17, 2023,Thermo Fisher announced its plans to acquire Olink. The deal, valued at approximately $3.1 billion or 26 per share, represented a 74% premium over Olink’s closing price of $14.98 on Oct 16, 2023.
This acquisition enables Thermo Fisher to leverage Olink’s innovative proteomics solutions, driving growth and accelerating scientific advancements in life sciences. Upon completion, Olink will join Thermo Fisher’s Life Sciences Solutions segment, marking a significant milestone in the strategic expansion of Thermo Fisher’s proteomics capabilities.
Strategic Significance
Per Olink, CMA’s unconditional approval marks a pivotal step in the acquisition process, signaling regulatory confidence in the merger’s compliance with competition laws. This clearance paves the way for Thermo Fisher to expand its portfolio, enhancing its capabilities in the proteomics and genomics sectors through Olink's innovative technologies. The approval also provides certainty to shareholders and stakeholders, assuring them of a smooth and timely transition.
Olink, post its merger, will be able to leverage Thermo Fisher’s deep life sciences expertise, global reach and proven operational excellence to progress in the prospering field of proteomics solutions. As far as Thermo Fisher is concerned, this acquisition is expected to bolster its market position and drive growth in life sciences, benefiting from Olink's cutting-edge proteomics solutions.
Industry Prospects
Per a report by MarketsandMarkets, the global proteomics market size was valued at $36.8 billion in 2023. It is anticipated to reach $72.9 billion in 2028 at a CAGR of 14.6%
The field of proteomics has seen significant advancements, revolutionizing its capabilities and applications. These advancements include improved sensitivity and resolution, providing high-throughput and multiplexed analysis, facilitating data integration, enhancing sample preparation and fractionation techniques, enabling mass spectrometry-based imaging and providing advanced data analysis and informatics tools.
Recent Developments
This month, Olink’s establishment of Olink Certified Service Providers marked a significant step in accelerating scientific discovery and making advanced proteomics technology more accessible to researchers worldwide. This innovative ecosystem is set to drive forward biomarker research with unmatched precision and reliability.
In the previous month, Carl Raimond, president of Olink, expressed excitement about the potential of the new panel to provide predictive insights into therapeutic responses and disease progression, moving closer to the realization of precision medicine. This addition to Olink’s portfolio of next-generation proteomics solutions enhances the company’s offerings from discovery to translational applications, supporting all stages of drug development and disease characterization.
Price Performance
Shares of Olink have increased 3.4% so far this year against the industry's19.3% fall. The S&P 500 has witnessed a 17.5% rise in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Olink carries a Zacks Rank #4 (Sell).
Two better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) and Universal Health Services (UHS - Free Report) .
DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 43.4% compared with the industry’s 15.2% rise in the past year.
Universal Health Services, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 14.80%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 8.12%.
Universal Health Services has gained 21.3% against the industry’s 20.4% decline in the past year.
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Olink's (OLK) Acquisition by Thermo Fisher Gets UK CMA Nod
Olink Holding AB (OLK - Free Report) announced that the UK Competition and Markets Authority (CMA) has unconditionally approved the tender offer by Orion Acquisition AB, a subsidiary of Thermo Fisher Scientific Inc. (TMO - Free Report) . The offer price is set at $26 per share and includes all outstanding Common Shares and American Depositary Shares of Olink.
Following this approval, Olink and Thermo Fisher anticipate completing the deal shortly after the offer's expiration on Jul 9, 2024.
More on the Acquisition
On Oct 17, 2023,Thermo Fisher announced its plans to acquire Olink. The deal, valued at approximately $3.1 billion or 26 per share, represented a 74% premium over Olink’s closing price of $14.98 on Oct 16, 2023.
This acquisition enables Thermo Fisher to leverage Olink’s innovative proteomics solutions, driving growth and accelerating scientific advancements in life sciences. Upon completion, Olink will join Thermo Fisher’s Life Sciences Solutions segment, marking a significant milestone in the strategic expansion of Thermo Fisher’s proteomics capabilities.
Strategic Significance
Per Olink, CMA’s unconditional approval marks a pivotal step in the acquisition process, signaling regulatory confidence in the merger’s compliance with competition laws. This clearance paves the way for Thermo Fisher to expand its portfolio, enhancing its capabilities in the proteomics and genomics sectors through Olink's innovative technologies. The approval also provides certainty to shareholders and stakeholders, assuring them of a smooth and timely transition.
Olink, post its merger, will be able to leverage Thermo Fisher’s deep life sciences expertise, global reach and proven operational excellence to progress in the prospering field of proteomics solutions. As far as Thermo Fisher is concerned, this acquisition is expected to bolster its market position and drive growth in life sciences, benefiting from Olink's cutting-edge proteomics solutions.
Industry Prospects
Per a report by MarketsandMarkets, the global proteomics market size was valued at $36.8 billion in 2023. It is anticipated to reach $72.9 billion in 2028 at a CAGR of 14.6%
The field of proteomics has seen significant advancements, revolutionizing its capabilities and applications. These advancements include improved sensitivity and resolution, providing high-throughput and multiplexed analysis, facilitating data integration, enhancing sample preparation and fractionation techniques, enabling mass spectrometry-based imaging and providing advanced data analysis and informatics tools.
Recent Developments
This month, Olink’s establishment of Olink Certified Service Providers marked a significant step in accelerating scientific discovery and making advanced proteomics technology more accessible to researchers worldwide. This innovative ecosystem is set to drive forward biomarker research with unmatched precision and reliability.
In the previous month, Carl Raimond, president of Olink, expressed excitement about the potential of the new panel to provide predictive insights into therapeutic responses and disease progression, moving closer to the realization of precision medicine. This addition to Olink’s portfolio of next-generation proteomics solutions enhances the company’s offerings from discovery to translational applications, supporting all stages of drug development and disease characterization.
Price Performance
Shares of Olink have increased 3.4% so far this year against the industry's 19.3% fall. The S&P 500 has witnessed a 17.5% rise in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Olink carries a Zacks Rank #4 (Sell).
Two better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) and Universal Health Services (UHS - Free Report) .
DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 43.4% compared with the industry’s 15.2% rise in the past year.
Universal Health Services, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 14.80%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 8.12%.
Universal Health Services has gained 21.3% against the industry’s 20.4% decline in the past year.