By Colin Kellaher

Shares of Olink Holding surged in early trading Tuesday after the proteomics company agreed to be acquired by life-sciences giant Thermo Fisher Scientific in a deal worth $3.1 billion.

Thermo Fisher is paying $26 a share in cash for Olink, a 74% premium to Monday's closing price of $14.98 for the Uppsala, Sweden, company.

Olink shares were recently changing hands at $24.90, up 66%.

The takeover price is just below Olink's 52-week high of $26.47 reached last December.

Thermo Fisher said holders of more than 63% of Olink's shares, including top shareholder Summa Equity, have agreed to support the deal, slated to close in mid-2024.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 17, 2023 10:01 ET (14:01 GMT)

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