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:3/24/2017)... 24, 2017   Sienna Biopharmaceuticals, Inc. , a ... announced that Richard Peterson will join the ... Peterson, who brings more than two decades of ... who is retiring at the end of April but ... Peterson joins Sienna from Novan, Inc., where he served ...
(Date:3/23/2017)... 2017 Research and Markets has announced ... report to their offering. ... The Global Market for Bioproducts Should ... at a CAGR of 8.9%, This research ... into seven major product segments: bio-derived chemicals, biofuels, pharmaceuticals (biodrugs ...
(Date:3/23/2017)... March 23, 2017  BioPharmX Corporation (NYSE MKT: ... the dermatology market, today reported financial results for ... and will provide an update on the company,s ... "We are pleased to report that ... BioPharmX," said President Anja Krammer. "We achieved key ...
(Date:3/23/2017)... According to a report by Transparency Market Research (TMR), ... the presence of a large pool of participants; however, only a ... Sigma-Aldrich, compete with each other in this market. With Proliant being ... of this market in 2016.  ... As of now, a large number of vendors are ...
Breaking Biology Technology:
(Date:2/13/2017)... 2017  RSA Conference -- RSA, a Dell Technologies ... to enhance fraud detection and investigation across digital ... Fraud & Risk Intelligence Suite. The new platform ... insights from internal and external sources as well ... customers from targeted cybercrime attacks. "Fraudsters ...
(Date:2/10/2017)... -- Research and Markets has announced the ... Scientific and Commercial Aspects" to their offering. ... Biomarkers play ... therapy for selection of treatment as well for monitoring the ... disease in modern medicine. Biochip/microarray technologies and next generation sequencing ...
(Date:2/8/2017)... , Feb. 8, 2017 About Voice ... voice to match it against a stored voiceprint ... as pitch, cadence, and tone are compared to ... minimal hardware installation, as most PCs already have ... different transactions. Voice recognition biometrics are most likely ...
Breaking Biology News(10 mins):