Washington DC-headquartered Danaher has entered into a definitive merger agreement with Pall Corporation. With the deal, Danaher will acquire all of the outstanding shares of Pall for US$127.20 per share in cash, or totalling approximately US$13.8 billion.
Pall, a leading global provider of filtration, separation and purification solutions that remove contaminants or separate substances from a variety of solids, liquids and gases, has generated US$2.8 billion of revenues with US$1.5 billion from its Life Sciences segment and US$1.3 billion from its Industrial segment, in its fiscal year ended July 2014.
The merger is subject to customary conditions, and transaction for it is expected to be completed by year end. Danaher estimates the Pall acquisition will be approximately $0.40 accretive to non-GAAP, adjusted diluted net earnings per share in 2016, excluding non-cash amortization, purchase accounting and transaction expenses.
Danaher expects to finance the transaction primarily with available cash and proceeds from the issuance of debt or new credit facilities.
(PRA)
