Shares of Olink Holding AB (NASDAQ: OLK) are skyrocketing 66.1% higher as of 11 a.m. ET on Tuesday. The huge jump came after Thermo Fisher Scientific (NYSE: TMO) announced plans to acquire Olink for roughly $3.1 billion in an all-cash transaction. Thermo Fisher's offer price of $26 per share represents a premium of around 74% above the closing price of Olink's American Depositary Shares on Oct. 16, 2023.