Skip to main content
Premium Trial:

Request an Annual Quote

Danaher Offering $2.70B in Convertible, Common Stocks

NEW YORK (GenomeWeb) – Danaher announced after the close of the market on Monday concurrent offerings of its common stock and its mandatory convertible preferred stock to fund, in part, its proposed $21.4 billion acquisition of GE's Biopharma business.

Danaher has commenced its concurrent offerings of $1.35 billion of shares of its common stock and $1.35 billion of shares of its Series A Mandatory Convertible Preferred stock. Barclays and Goldman Sachs are the representatives of the underwriters and joint book-running managers for the offerings. Credit Suisse and HSBC are also joint book-running managers.

Danaher said it expects to offer the underwriters separate 30-day options to purchase up to an additional $135 million of shares of its common stock and up to an additional $135 million of shares of mandatory convertible preferred stock.

Each mandatory convertible preferred stock is anticipated to have a liquidation preference of $1,000 per share. Each share of the preferred stock will automatically convert into a variable number of shares of Danaher's common stock, which is scheduled to occur on April 15, 2022, unless earlier converted or redeemed, the firm said. 

In morning trading on the New York Stock Exchanges, Danaher's shares were down a fraction of 1 percent to $122.56.

The Scan

Machine Learning Helps ID Molecular Mechanisms of Pancreatic Islet Beta Cell Subtypes in Type 2 Diabetes

The approach helps overcome limitations of previous studies that had investigated the molecular mechanisms of pancreatic islet beta cells, the authors write in their Nature Genetics paper.

Culture-Based Methods, Shotgun Sequencing Reveal Transmission of Bifidobacterium Strains From Mothers to Infants

In a Nature Communications study, culture-based approaches along with shotgun sequencing give a better picture of the microbial strains transmitted from mothers to infants.

Microbial Communities Can Help Trees Adapt to Changing Climates

Tree seedlings that were inoculated with microbes from dry, warm, or cold sites could better survive drought, heat, and cold stress, according to a study in Science.

A Combination of Genetics and Environment Causes Cleft Lip

In a study published in Nature Communications, researchers investigate what combination of genetic and environmental factors come into play to cause cleft lip/palate.