Yesterday this publication reported rumours that Pall Corporation was being eyed up by Thermo Fisher and Danaher.
The filtration, separation and purification tech firm is set to be incorporated into Danaher after the company agreed this morning to be acquired for $127.20 per share in cash.
Pall CEO Larry Kingsley said the transaction created an “opportunity for long-term growth” and that his company is a complementary fit for Danaher.
“Danaher's proven management system and strong financial position coupled with Pall's expertise, brand and channel strength in the field of filtration and separation science [will enable] the creation of tremendous value for the global customers of the combined company.”
Yesterday, this publication reported Danaher had entered a bidding war with Thermo Fisher, with several analysts saying the firm was highly attractive to both, though Pall’s biopharma assets were deemed more of an obvious fit for Thermo Fisher.
The transaction is expected to close around the end of the year.
On the back of this deal, Danaher has said it intends to split into two independent, publicly traded companies: A science and technology growth company which will include the Pall business and will retain the Danaher name, and a diversified industrial growth company.
"The pending strategic acquisition of Pall Corporation announced today offers us the unique opportunity to drive greater shareholder value going forward as two stronger and better companies," said Danaher CEO Thomas Joyce, adding "each company will be more focused with access to the capital necessary to pursue organic and inorganic growth opportunities."