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Fly News Breaks for March 23, 2016
AFFX, TMO
Mar 23, 2016 | 11:41 EDT
After Thermo Fisher (TMO) responded to Origin Technologies increasing its takeover offer to Affymetrix (AFFX) by arguing that the new bid leaves the issues from the original bid unaddressed, Mizuho analyst Eric Criscuolo said Thermo seemed to turn a bit more aggressive in its posture and it appears to him that the company will not raise its bid. Though Affymetrix's board has pushed out its shareholder vote on Thermo merger agreement to allow time to go over the revised Origin bid, Criscuolo said the potential government opposition to an Origin deal due to its Chinese funding may keep Thermo as the company's best, and possibly only, option. The analyst has a Neutral rating on Affymetrix and a Buy rating on Thermo Fisher.
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