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Danaher Corporation. (7/1/05). "Press Release: DHR Announces Definitive Agreement to Acquire Leica Microsystems". Washington, DC.

Organisations Organisation Leica Microsystems AG
  Group Danaher (Group)
  Organisation 2 Danaher Corporation (NYSE: DHR)
  Group Danaher (Group)
Products Product optical instruments
  Product 2 microscopy
Index term Index term Leica–Danaher: investment, 200507–200509 acquisition $550m Leica Microsystems AG from LM Investments Sarl
Person Person Culp, H. Lawrence, Jr. (Danaher 2001–201502 CEO RETIRED 3/15)
     


Danaher Corporation (NYSE: DHR) announced today that it has signed a definitive agreement to purchase German-based Leica Microsystems AG from LM Investments S.à r.l. The purchase price amounts to an enterprise value of approximately US $550 million, including assumed debt, pension liabilities, transaction costs and net of cash acquired.

H. Lawrence Culp, Jr., Danaher's President and Chief Executive Officer, said: "This transaction makes strong strategic and financial sense for both companies. Leica Microsystems' technology in high precision optical instrumentation and its well-known brand will extend Danaher's Professional Instrumentation segment into life sciences while complementing our existing critical care diagnostics and dental businesses. Leica Microsystems has an excellent management team, and working together we can improve the company's long-term performance and augment its growth on a global scale - both organically and through add-on acquisitions. We are pleased to have such a well-respected company become part of Danaher."

Headquartered in Wetzlar, Germany, Leica Microsystems is a leading global designer and producer of innovative high- precision optical systems for the analysis of microstructures, with revenues of approximately $660 million in 2004. It is a market leader in Microscopy, Pathology Diagnostics, Surgical Microscopes as well as Semiconductor wafer defect and inspection solutions and specialized electron-beam lithography systems. The company manufactures a broad range of products for numerous applications that require either microscopic visual presentation, measurement, analysis or electron-beam lithography. Leica Microsystems is repre-sented in over 100 countries with 10 manufacturing facilities located in Europe, China and Singapore, sales and service organizations in 19 countries and an international dealer network.

The acquisition is subject to regulatory approval and customary closing conditions and is expected to close in the third quarter. The company expects minimal earnings per share accretion in 2005. Earnings per share accretion in 2006 is expected to be approximately $0.03.

Danaher will hold a brief conference call today at 8:30 a.m. Eastern Time to discuss this transaction. The dial-in number is (877) 242-4594, reference ID Code 7411445. A telephone replay will be available by dialing (800) 642-1687, ID Code 7411445. The replay will be available through Friday, July 8, 2005.

Danaher Corporation is a leading manufacturer of Professional Instrumentation, Industrial Technologies, 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, the benefits of the Leica acquisition and the integration of the Leica business with Danaher. Such forward-looking statements involve risks and uncertainties as set forth in Danaher's filings with the United States Securities and Exchange Commission.


Please contact:

Andy Wilson
Vice President, Investor Relations
Danaher Corporation
2099 Pennsylvania Avenue
Washington, D.C. 20006
Telephone: (202) 828-0850
Fax: (202) 828-0860

   
Record changed: 2016-05-31

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