Danaher Corporation Announces Signing a Definitive Agreement to Acquire LEM Instruments
23 December 2004 - 11:00PM
PR Newswire (US)
Danaher Corporation Announces Signing a Definitive Agreement to
Acquire LEM Instruments WASHINGTON, Dec. 23 /PRNewswire-FirstCall/
-- Danaher Corporation (NYSE: DHR) announced today that it has
signed a definitive agreement to purchase LEM Instruments, a
division of Swiss based LEM Group for approximately $57 million in
cash including transaction costs and net of cash acquired. With
primary operations in the United Kingdom and Austria, LEM
Instruments produces and sells a comprehensive array of electrical
measurement solutions used in both commercial and industrial
applications. The business generated fiscal 2004 revenues of
approximately $45 million and will become a part of Danaher's
Electronic Test platform. The company expects minimal accretion in
2005. The acquisition remains subject to regulatory approval and
other customary closing conditions and is expected to close in the
first quarter of 2005. Danaher Corporation is a leading
manufacturer of Process/Environmental Controls and Tools and
Components. (http://www.danaher.com/) Statements in this release
that are not strictly historical may be "forward-looking"
statements. These forward-looking statements include statements
about future business operations, financial performance, market
conditions and the integration of the LEM Instruments and Danaher
businesses. Such forward-looking statements involve risks and
uncertainties as set forth in the Danaher's filings with the United
States Securities and Exchange Commission. DATASOURCE: Danaher
Corporation CONTACT: Andy Wilson, Vice President, Investor
Relations, of Danaher Corporation, +1-202-828-0850 Web site:
http://www.danaher.com/
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