The risks that we believe are material to our investors are discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2020 under the caption “Risk Factors,” which is on file with the SEC.
−Removed: Except as set forth herein, there have been no material changes during the six months ended July 3, 2021 to our previously reported Risk Factors.
+Added: Except as set forth herein, there have been no material changes during the nine months ended October 2, 2021 to our previously reported Risk Factors.
Risks Relating to Our Proposed Acquisition of PPD
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Federal Trade Commission (FTC), in connection with the FTC’s review of the proposed merger.
−Removed: The effect of the Second Request is to extend the waiting period imposed under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), until the 30th day after substantial compliance by the us and PPD with the Second Request, unless the waiting period is terminated earlier by the FTC.
−Removed: Subject to the satisfaction of customary closing conditions, including the required regulatory approvals, waivers or consents, we continue to expect the merger to be completed by the end of 2021.
+Added: The effect of the Second Request is to extend the waiting period imposed under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), until the 30th day after substantial compliance by us and PPD with the Second Request, unless the waiting period is terminated earlier by the FTC.
+Added: As of October 22, 2021, both we and PPD had certified substantial compliance with the Second Request.
+Added: The transaction remains subject to the satisfaction of customary closing conditions, including termination of the HSR Act waiting period and receipt of applicable regulatory approvals outside the U.S.
+Added: Subject to the satisfaction of the required closing conditions, we continue to expect the merger to be completed by the end of 2021.
Combining PPD with us may be more difficult, costly or time consuming than expected and the anticipated benefits and cost savings of the transaction may not be fully realized .
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Our existing and future indebtedness may restrict our investment opportunities or limit our activities and negatively impact our credit ratings.
−Removed: As of July 3, 2021, we had approximately $18.78 billion in outstanding indebtedness.
+Added: As of October 2, 2021, we had approximately $21.71 billion in outstanding indebtedness and we issued approximately $11.83 billion of new debt during October.
In addition, we have availability to borrow under a revolving credit facility that provides for up to $3.00 billion of unsecured multi-currency revolving credit.
We expect to incur additional indebtedness to fund a portion of the purchase price of the PPD acquisition.
−Removed: We may also obtain additional long-term debt and lines of credit to meet future financing needs, which would have the effect of increasing our total leverage.
+Added: We may also obtain
THERMO FISHER SCIENTIFIC INC.
Risk Factors (continued)
+Added: additional long-term debt and lines of credit to meet future financing needs, which would have the effect of increasing our total leverage.
Our leverage could have negative consequences, including increasing our vulnerability to adverse economic and industry conditions, limiting our ability to obtain additional financing and limiting our ability to acquire new products and technologies through strategic acquisitions.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.