Danaher grabs Beckman

Medical and industrial instruments
maker Danaher Corp. will buy medical testing instrument maker Beckman Coulter
for about $5.87 billion.

Beckman Coulter Inc. makes products
that simplify and automate biomedical testing. It will become part of Danaher’s
life sciences and diagnostics business if the deal goes through. That would
make the life sciences unit Danaher’s largest.

Beckman Coulter, which is based in
Brea, Calif., had reportedly put itself up for sale in December.

Danaher has agreed to pay $83.50
per Beckman Coulter share, a 45 per cent premium over Beckman’s share price on 9
December the day before the acquisition rumours first surfaced.

Danaher valued the purchase at $6.8
billion including Beckman Coulter’s debt and its cash on hand.

The deal is expected to be
completed in the first half of the year.

Closing depends on a majority of
Beckman Coulter shareholders tendering their shares in favor of the deal.

Beckman Coulter said its board
unanimously supports the sale.

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