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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Thermo Fisher Scientific Inc | NYSE:TMO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.13 | 0.20% | 572.38 | 579.84 | 571.63 | 579.84 | 1,749,671 | 01:00:00 |
By Oliver Griffin
The U.K.'s monopoly watchdog, the Competition and Markets Authority, said Wednesday that it is investigating Thermo Fisher Scientific Inc.'s (TMO) $925 million acquisition of Roper Technologies Inc.'s (ROP) Gatan business.
The CMA said it is worried the deal, which was first announced in June, will adversely affect Thermo Fisher's two rivals in the sector, who use Gatan peripherals with their electron microscopes.
Alternatives to peripherals made by Gatan are at best extremely limited, the CMA said.
As a result, the competition regulator said it is concerned the deal could weaken Thermo Fisher's competitors and enhance its already strong market position, which could potentially lead to higher prices for customers.
The CMA said its investigation also raised concerns that the merger will leave Thermo Fisher with insufficient competition in the market for direct detection cameras, as Gatan is currently one of only two competitors in the supply of these instruments.
This in turn could reduce the incentive for further product development, the CMA said.
The CMA said that if the merging businesses can't address these concerns, the deal will be referred for an in-depth phase two investigation.
Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin
(END) Dow Jones Newswires
December 19, 2018 02:57 ET (07:57 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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