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Biotech / Medical : Trickle Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: smh who wrote (820)	9/5/2001 3:02:44 AM
From: tuck	Read Replies (1) \| Respond to of 1784

I've never been able to determine if FSH meets Trickle's criteria. The tone of their PRs make me think so, but they still don't break out their revenues such that I can say for sure. I wonder if I can get in on the CC and ask . . . This munch doesn't make the picture any clearer. >>HAMPTON, N.H., Sept. 5 /PRNewswire/ -- Fisher Scientific International, Inc. (NYSE: FSH - news), the world leader in serving science, today announced that it has signed a definitive agreement to acquire Cole-Parmer Instrument Company of Vernon Hills, Ill., in a $205 million cash transaction. Cole-Parmer -- with fiscal 2001 revenues of approximately $170 million -- is a global manufacturer and distributor of specialty instruments, equipment and supplies to the scientific-research and industrial markets. The company expects the acquisition to have no impact on 2001 earnings and be $0.03 accretive to its EPS (earnings per share) in 2002. ``The acquisition of Cole-Parmer both expands the breadth of our product offering to the life-science market and strengthens our self-manufactured product portfolio,'' said Paul M. Montrone, chairman and chief executive officer of Fisher Scientific International. ``Fisher's industry-leading products and services will be enhanced by Cole-Parmer's self-manufactured product lines that include fluid-management systems and instruments, which are important components of scientific research.'' Fisher Scientific's self-manufactured products and services include organic and inorganic chemicals; diagnostic products; laboratory instruments and equipment; lab workstations and fume hoods; custom synthesis for drug discovery; and contract-packaging services for phase III and phase IV clinical trials of new prescription drugs. ``The acquisition is an excellent fit and creates numerous synergies, including back-office integration, logistics optimization, and low-cost overseas manufacturing capabilities,'' said Montrone. ``Once fully integrated in late 2002, we expect to generate approximately $5 million of incremental operating income annually as a result of the acquisition.'' The acquisition qualifies for a joint election tax benefit under section 338(h)(10), which on a present-value basis provides $30 million in tax benefits that effectively reduces the cash payment for this transaction to approximately $175 million. Fisher will fund the acquisition primarily with cash generated from its recently completed equity offering. Closing of the transaction, which is subject to customary terms and conditions and regulatory approvals, is anticipated early in the fourth quarter. At 10:00 a.m. Eastern Daylight Time (EDT) today, Fisher Scientific will host a live conference call to provide an overview of the transaction and the strategy behind the acquisition. The call-in numbers are: U.S. 877-648-7975 International 706-634-2332 A replay will be available beginning approximately two hours after the conclusion of the teleconference until Sept. 15. Conference Call Replay Access: 800-642-1687 (U.S.) 706-645-9291 (International) Replay Code: 1672031 The call also will be available live on the company's Web site at www.fisherscientific.com , and will be archived on the site for 10 days. About Fisher Scientific International Inc. As the world leader in serving science, Fisher Scientific International Inc. (NYSE: FSH - news) offers more than 600,000 products and services that enable scientific discovery and clinical laboratory testing services to more than 350,000 customers located in approximately 145 countries. As a result of its broad product offering, integrated global logistics network and electronic-commerce capabilities, Fisher serves as a ``one-stop source'' of products, services and global solutions for many of its customers. The company's primary target markets are life science, clinical laboratory and industrial-safety supply. Additional information about Fisher is available on the company's Web site at www.fisherscientific.com . About Cole-Parmer Headquartered in Vernon Hills, Ill., Cole-Parmer Instrument Company is a leading worldwide distributor of specialty technical instruments, appliances, equipment and supplies to industrial, bioscience, academic and governmental customers.<< snip Cheers, Tuck