Shareholders of Fisher Scientific International and Thermo Electron Corporation voted overwhelmingly Wednesday to approve a merger of the two firms.
Formation of the new company – Thermo Fisher Scientific – is still subject to regulatory approval, but the companies expect the transaction to close by the end of the year.
Fisher shareholders backed the proposal by a 99 percent margin. Nienty-eight percet of Thermo shareholders approved the merger.
The surviving company will issue 1.2 billion shares and have assets – according to the proxy statement approved by the shareholders – exceeding $20 billion. Fisher’s Hampton headquarters would remain open for at least three years, but the company would be run out of Thermo’s headquarters in Waltham.
Executives involved in the merger will receive $85 million in cash and accelerated stock awards. – BOB SANDERS
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