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Danaher Prices Senior Notes Offering

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Danaher late on Monday priced its public offering of senior notes, which is expected to bring in net proceeds of $1.79 billion.

Danaher is offering $300 million principal amount of floating rate senior notes due 2013 at an offering price of 100 percent of the principal amount; $400 million principal amount of 1.3 percent senior notes due 2014 at a price of 99.918 percent of the principal amount; $500 million principal amount of 2.3 percent senior notes due 2016 at a price of 99.840 percent of the principal amount; and $600 million principal amount of 3.9 percent senior notes due 2021 at a price of 99.975 percent of the principal amount.

The offering is anticipated to close on June 23.

Proceeds will be used to partially fund Danaher's $6.8 billion pending acquisition of Beckman Coulter, which last week cleared its last regulatory hurdle when the European Commission approved the deal. Danaher expects to complete the buy by the end of the month.

Any remaining net proceeds will be used for general corporate purposes.

Deutsche Bank Securities, Merrill Lynch, Pierce, Fenner & Smith, BNP Paribas Securities, HSBC Securities, and Wells Fargo Securities are joint book-running managers for the offering.

Banca IMI, Mitsubishi UFJ Securities, Scotia Capital, SunTrust Robinson Humphrey, and SMBC Nikko are co-managers.

Danaher also expects to close on a public offering of its common stock today, which is expected to net proceeds of $965.3 million if underwriters exercise an over-allotment option in full.

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