Why Proteomics Solutions Provider Olink's Shares Are Rocketing Today
Portfolio Pulse from Lekha Gupta
Thermo Fisher Scientific Inc (TMO) has announced a deal to acquire Olink Holding AB (OLK) for about $3.1 billion, causing OLK shares to rise by over 65%. The acquisition is expected to be completed by mid-2024. OLK projects to deliver revenues of $200 million in 2024 and is expected to grow mid-teens organically. Thermo Fisher anticipates about $125 million of adjusted operating income from revenue and cost synergies by year five following acquisition closure.
October 17, 2023 | 2:44 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Olink's shares rose by over 65% following the announcement of its acquisition by Thermo Fisher. The company is expected to deliver revenues of $200 million in 2024.
The acquisition announcement by Thermo Fisher has led to a significant increase in Olink's share price. The company's projected revenue for 2024 also indicates potential growth.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Thermo Fisher announced the acquisition of Olink for $3.1 billion. The deal is expected to be completed by mid-2024 and generate about $125 million of adjusted operating income from revenue and cost synergies by year five following acquisition closure.
The acquisition of Olink is a significant move for Thermo Fisher, which is expected to generate substantial operating income from the deal in the long term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100