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Dealipedia - Danaher acquires Willett International

Danaher acquires Willett International for $110 million

Deal Participants:
Acquiring Company: Danaher View Profile Add Homepage Google Search
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Target Company: Willett International View Profile Charts Homepage
Deal Financials:
Price: $110 million
 
Date:
Announced: Nov 21, 2002

PRESS RELEASE

Danaher Corporation Announces Signing a Definitive Agreement To Acquire Willett International Limited
Thursday November 21, 6:30 am ET

WASHINGTON, Nov. 21 /PRNewswire-FirstCall/ -- Danaher Corporation (NYSE: DHR - News) announced today that it has signed a definitive agreement to purchase Willett International Limited for approximately $110 million which includes the assumption of approximately $27 million of debt. The acquisition remains subject to regulatory approval and other customary closing conditions.

Willett, with approximately $110 million in revenues, is a significant manufacturer and marketer of Product Identification equipment and consumables. First-year Danaher EPS accretion is expected to be minimal.

"Willett's product offering, aftermarket revenue base and direct channels throughout the world make it an attractive and complementary addition to our Product Identification platform," commented H. Lawrence Culp, Jr., Danaher's President and Chief Executive Officer. "The pending acquisition of Willett, less than a year from our Videojet acquisition, demonstrates our commitment to the Product Identification market, positions us to grow one of our key strategic platforms, and provides a more comprehensive product line to our customers throughout the world. As always, we are excited about the value we believe the Danaher Business System can bring to this business."

Danaher Corporation is a leading manufacturer of Process / Environmental Controls and Tools and Components (www.danaher.com).

Statements in this release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. These include economic and currency conditions, market demand, pricing, and competitive and technological factors, among others, as set forth in the company's SEC filings.

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Dec 06 '07
This version submitted by SamBartolone

 

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