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FTC Asks MDS, Danaher for More Information on Acquisition

NEW YORK (GenomeWeb News) – MDS and Danaher have received a second request for information from the US Federal Trade Commission regarding Danaher's planned $1.1 billion acquisition of the MDS Analytical Technologies Division, which includes a mass spectrometry joint venture with Life Technologies, MDS said today.

The second request extends the 30-day waiting period under US Antitrust law. MDS said that the request relates to a global marketing segment that the firms estimate generates $50 million in annual revenues for the companies combined.

MDS said it continues to work with Danaher to cooperate with the FTC, and it expects the deal to receive FTC approval and close by the first calendar quarter of 2010.

Under the deal, Danaher will buy the Analytical Technologies business for $650 million in cash, plus another $450 million that will go to Life Technologies for its share in the mass spectrometry joint venture.

Danaher expects that the new businesses will reap $650 million in annual revenues, with around $525 million of that coming from the mass spec joint venture. Danaher plans to run the business within its Danaher Medical Technologies segment, which includes the Leica, Radiometer, Sybron, and KaVo businesses.

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