Scientific instrument maker Thermo Fisher is selling its cell culture, gene modulation and magnetic beads businesses to a General Electric Co. division for approximately $1.06 billion.
The businesses, which had combined annual revenue of about $250 million in 2013, will become part of GE Healthcare’s life sciences unit.
GE said that the transaction allows it to expand its offering of technologies for the discovery and manufacturing of new medicines, vaccines and diagnostics in its life sciences business.
GE said the deal is expected to close in the first part of 2014.
Thermo Fisher Scientific Inc. said Monday that it is selling the businesses to speed up European Commission approval of its pending $13.6 billion acquisition of Life Technologies Corp.
Wearhouse raises bid for Jos. A. Bank
Despite rebuked overtures on both sides, The Men’s Wearhouse and Jos. A. Bank could wind up together for better or worse.
The courtship to combine the two men’s clothing companies has dragged on for months, with each chain having its offer to acquire the other rebuffed. And the saga to combine the two rivals took another turn on Monday when Men’s Wearhouse boosted its offer to acquire Jos. A. Bank to $1.61 billion.
While the companies continue to play hard to get, analysts say a combination is inevitable. It would enable both chains to cut costs and boost profits in an increasingly competitive market in which shoppers are scrutinizing their purchases more. But so far executives have been unable to hammer out a deal despite interest on both sides.
Apple’s iBeacon comes to some grocery stores
Pretty soon, your phone might remind you to pick up laundry detergent as you peruse the microbrews in the supermarket, just a couple of aisles away.
Mobile shopping startup InMarket started using Apple’s in-store location technology, iBeacon, on Monday to send shoppers deals, rewards and grocery list reminders inside U.S. grocery stores to the 20 million people who use its apps.
iBeacon, which works with Apple devices running iOS 7, is already being used inside Apple stores. As of Monday, InMarket’s Mobile to Mortar iBeacon feature is available in dozens of Safeway and Giant Eagle stores in Seattle, San Francisco and Cleveland, but InMarket says the number will grow to more than 150 in the next couple of weeks and thousands of stores, grocery and other types, by the end of 2014.
T-Mobile to buy spectrum licenses
T-Mobile said Monday that it’s reached deals to buy spectrum licenses from Verizon Wireless for $2.37 billion in cash, allowing it to improve certain kinds of cellular service in markets across the U.S.
The agreements also include the transfer of other kinds of spectrum licenses from T-Mobile to Verizon Wireless that the companies value at about $950 million.
The deals, combined with T-Mobile’s existing holdings, will give T-Mobile low-band spectrum in nine of the top 10 U.S. markets.
Low-band spectrum boosts cellular coverage inside buildings and in rural areas. It also has the ability to travel greater distances than high-band spectrum, making it a more efficient way to provide coverage at the edge of cities.