Thermo Fisher Agrees To Acquire Affymetrix For $1.3 Billion

Thermo Fisher Scientific Inc. said late Friday it agreed to acquire biological test company Affymetrix Inc. for $14 a share cash, or $1.3 billion. Shares of Affymetrix had been halted at $9.21 prior to the announcement and are expected to resume trading at 6:15 p.m. Eastern. Board members from both companies have approved the transaction, according to Thermo Fisher and Affymetrix. Subject to approval from Affymetrix shareholders, Thermo Fisher expects the deal to close at the end of the second quarter.