Beckman is growing at 25 percent a year in China, Danaher said.Īn aging population and more emphasis on preventive medical care, along with growth of medical technology, make clinical diagnostics an attractive $25 billion market, Danaher CEO Larry Culp said.ĭanaher could cut costs by about $250 million over several years. The deal is expected to close in the first half of 2011.Ībout a quarter of the funding comes from cash on hand, 15 percent from equity and 60 percent from new assumed debt, Danaher said on a conference call with analysts. The transaction is valued at about $6.8 billion, including assumed debt, the companies said. The $83.50-per-share deal represents an 11 percent premium to Beckman's closing price on Friday, and a roughly 45 percent premium over its price in December before rumors of a deal entered the marketplace, according to Beckman.īeckman shares jumped 9.8 percent to $82.55 in premarket trading, while Danaher rose to $49.56. (Reuters) - Danaher Corp agreed to buy medical diagnostics company Beckman Coulter Inc for $5.8 billion cash, moving further into its growing medical technology business. Danaher to buy Beckman Coulter for $5.8 billion
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