Navigation Links
Danaher Offers to Acquire Genetix Group plc for GBP 50 million pounds Sterling (USD $82 million)
Date:12/18/2009

WASHINGTON, Dec. 18 /PRNewswire-FirstCall/ -- Danaher Corporation (NYSE: DHR) announced today its intention to make a recommended cash takeover offer, through an indirect wholly owned subsidiary, to acquire all of the issued and to be issued shares of Genetix Group plc (GTX:AIM) for 85 pence per share implying an aggregate price of approximately GBP 50 million pounds (USD $82 million) net of cash acquired.

The offer enjoys the recommendation of the Board of Genetix who have undertaken to accept the offer.

Together with the Board, shareholders have provided hard irrevocable undertakings to accept the offer amounting to over 77% of the issued share capital in aggregate.

In accordance with standard U.K. practice, the offer will become unconditional upon acceptance by the holders of not less than 90% of the Genetix Ltd issued and to be issued shares. The offer is subject to customary closing conditions. Danaher anticipates completing the transaction during the first quarter of 2010.

Genetix, headquartered in New Milton, Hampshire, UK provides scientists and clinicians with solutions for imaging and intelligent image analysis to facilitate development of pharmaceuticals and biotherapeutics, mainstream research, and clinical diagnostics with fiscal 2008 revenues of approximately GBP 26 million (USD $42 million).

All references to U.S. dollars herein use a GBP conversion rate of 1 pound GBP = $1.63 USD

About Danaher

Danaher (NYSE: DHR), based in Washington. D.C., is a diversified technology leader that designs, manufactures, and markets innovative products and services to professional, medical, industrial, and commercial customers. Our portfolio of premier brands is among the most highly recognized in each of the markets we serve. Driven by the Danaher Business System, our 50,000 associates serve customers in more than 125 countries and generated $12.7 billion of revenue in 2008. For more information please visit our website: www.danaher.com.

Statements in this document that are not strictly historical, including statements regarding the offer and the proposed acquisition and any other statements about managements' future expectations, beliefs, goals, plans or prospects, may constitute forward looking statements. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These factors include, among other things: general economic conditions and conditions affecting the industries in which the Company and Genetix operate; the uncertainty of regulatory approvals; the parties' ability to satisfy the closing conditions and consummate the transactions; Danaher's ability to successfully integrate Genetix's operations and employees with Danaher's existing business; and the ability to realize anticipated growth, synergies and cost savings. Additional information regarding factors that may cause actual results to differ materially from these forward-looking statements is available in Danaher's SEC filings, including Danaher's 2008 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarter ended October 2, 2009. These forward-looking statements speak only as of the date of this release and Danaher does not assume any obligation to update any forward-looking statement.

SOURCE Danaher Corporation


'/>"/>
SOURCE Danaher Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Danaher to Present at Robert W. Baird Industrial Conference
2. Danaher to Present at J.P. Morgan Healthcare Conference
3. New Multicenter Study Finds That Cardiac Function Measured During Stress Testing With Cheetah Medicals BIOREACTANCE(R) Noninvasive Technology Offers New Insights Into Heart Failure
4. Will Jatropha Become a 'DotCom Bubble' in Biofuel Industry? Leading to 2nd JatrophaWorld Africa, Jatropha Webinar on 30 Sept 09 Explores Challenges & Offers Strategies for Long-Term Success for This Non-Food Crop for Fuel
5. New Sigma Advanced Genetic Engineering Labs Offers Research Community Unique Rodent Models Developed Using Exclusive Gene-Editing Technology
6. International Products Corp.s Lab Offers Filter Membrane Compatibility and Studies
7. DNA Diagnostics Center Offers Father's Day DNA Testing
8. Plenish™ High Oleic Soybean Oil Offers Trans Fat Solution with Superior Performance
9. Raptiva Withdrawal Offers Upside for Enbrel and Humira According to Latest BioTrends Survey of U.S. Dermatologists
10. MMR Offers Free Surgical Masks to Call Attention to Importance of Personal Health Records in Preparing for Possible Swine Flu Pandemic
11. Cancer Fighting Nutrition Supplement, Caplex, Offers Cancer Patients A New All-Natural Treatment Option
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/20/2017)... , ... June 20, 2017 , ... Do More with ... transition from being a trusted supplier in the weighing industry, to extending its expertise ... ELISA essays, enzyme reactions, immunoassays, hybridizations and more, allowing for its customers ...
(Date:6/19/2017)... PA (PRWEB) , ... June 19, 2017 , ... ... companies for over 50 years. One of the biggest challenges faced by life sciences, ... firm’s regulatory affairs services team is Kati Abraham , who is well known ...
(Date:6/16/2017)... ... ... CTNext , Connecticut’s go-to resource for entrepreneurial support, today announced the ... Piers in Stamford. , Nine finalists, all of whom are Connecticut-based companies and entrepreneurs, ... secure $10,000 awards to help support business growth. The winners included:, ...
(Date:6/15/2017)... ... June 15, 2017 , ... ... new medical device startup. Dan Parsley, angelMD’s SVP of Corporate Development, served as ... this angelMD syndicate is part of Saranas’ recently announced $4 million Series B ...
Breaking Biology Technology:
(Date:6/23/2017)... ITHACA, N.Y. , June 23, 2017 ... a leader in dairy research, today announced a new ... help reduce the chances that the global milk supply ... this dairy project, Cornell University has become the newest ... Food Supply Chain, a food safety initiative that includes ...
(Date:6/14/2017)... IBM ) is introducing several innovative partner startups at ... between startups and global businesses, taking place in ... startups will showcase the solutions they have built with IBM ... France is one of the most ... increase in the number of startups created between 2012 and ...
(Date:5/23/2017)... , May 23, 2017  Hunova, the first robotic gym for the ... been officially launched in Genoa, Italy . The first ... and the USA . The technology was developed ... market by the IIT spin-off Movendo Technology thanks to a 10 million ... News Release, please click: ...
Breaking Biology News(10 mins):