China approves Thermo Fisher, Life Tech deal with conditions

Thu Jan 16, 2014 4:59am EST
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BEIJING (Reuters) - China's Commerce Ministry said it had approved U.S.-listed laboratory equipment maker Thermo Fisher Scientific Inc's (TMO.N: Quote) $13.6 billion takeover of Life Technologies Corp (LIFE.O: Quote), subject to certain conditions.

The conditions are that Thermo Fisher cut the prices of two types of its products sold in China, sell its cell culture and gene adjustment businesses, and its stake of 51 percent in China's Lanzhou National Hyclone Bio-engineering Co Ltd.

(Reporting by Koh Gui Qing and Xiaoyi Shao; Editing by Clarence Fernandez)

A view shows the headquarters of Life Technologies Corp in Carlsbad, California April 15, 2013. REUTERS/Mike Blake