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Danaher Prices Public Offering at $51.75 per Share

The story has been updated to include the net proceed anount if underwriters exercise their over-allotment option in full.

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Danaher late on Tuesday priced its public offering of 17.5 million shares of its common stock at $51.75 per share.

Net proceeds from the offering are expected to be at least $877.4 million and will be used to pay a portion of its pending $6.8 billion acquisition of Beckman Coulter. Proceeds also may be used for general corporate purposes, if there are any remaining from the offering or if the Beckman deal fails to c

Underwriters on the offering have been granted a 30-day option to purchase up to an additional 1.75 million shares. In a document filed with the US Securities and Exchange Commission, Danaher said that if the underwriters exercise their over-allotment option in full, net proceeds will total around $965.3 million.

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

The offering is expected to close on June 21.

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