Finance History | 11 Wall Street — Two Fisher Shares Became a Combined Book Called TMO
· 2006-11
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Finance History | 11 Wall Street — Two Fisher Shares Became a Combined Book Called TMO
kevin
People treat Thermo Fisher Scientific as a Waltham instruments house that always printed TMO after a finished combined book.
The present name arrived as a merger.
A joint release dated 9 November 2006, carried on the subsequent Form 8-K, records that Thermo Electron Corporation and Fisher Scientific International Inc. completed a tax-free, stock-for-stock merger that day after European Commission clearance.
Fisher holders received 2.00 shares of Thermo common stock for each Fisher share.
Thermo holders owned about 39 percent of the combined company. Fisher holders owned about 61 percent.
The same release states that the combined firm, headquartered in Waltham, Massachusetts, had approximately 9 billion dollars of 2006-era revenues and about 30,000 employees, and that it would trade on the New York Stock Exchange under TMO.
Thermo Fisher Scientific's investor-relations FAQ records the formation date as 9 November 2006 and the present listing as TMO on the New York Stock Exchange, CUSIP 883556 10 2.
The same FAQ records that the combined company has not split its stock since that formation.
TMO had already been Thermo Electron's New York symbol. FSH stopped.
The mechanism of 9 November 2006 is an all-stock combination that kept one listed book and retired the other, not a cash IPO of a new issuer.
The pin is the Broad Street facade of the Exchange, where the combined TMO book printed.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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