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Danaher to Offer 17.5 Million Shares in Public Offering

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Danaher said after the close of the market on Monday that it plans on offering 17.5 million shares of its common stock in a public offering.

Danaher hasn't yet priced its offering, but the firm's shares closed Monday at $51.33 on the New York Stock Exchange.

It said that net proceeds will be used to pay a part of its $6.8 billion proposed purchase of Beckman Coulter, expected to close later this month. Proceeds also may be used for general corporate purposes if there are any remaining from the offering, or if the Beckman deal fails to close, Danaher said in a statement.

Citi, Morgan Stanley, Barclays Capital, and UBS Securities are acting as joint book-running managers. Baird, Jefferies, Banca IMI, Mitsubishi UFJ Securities, and Wells Fargo Securities are acting as co-managers.

In a document filed with the US Securities and Exchange Commission today, Danaher said it has granted the underwriters of the offering the option to purchase up to an additional 1.75 million shares at the public offering price.

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