Advertisement

Picture AB Sciex Berliner LCMSMS Symposium 2017 Middle 600x60px
Document › Details

Danaher Corporation. (10/10/12). "Press Release: Danaher Corporation and Cooper Industries Announce Definitive Agreement to Sell Apex Tool Group for $1.6b to Bain Capital". Washington, DC.

Organisations Organisation Danaher Corporation (NYSE: DHR)
  Group Danaher (Group)
  Organisation 2 Apex Tool Group LLC
  Group Bain Capital (Group)
Products Product machinery (excl laboratory)
  Product 2 private equity
Index term Index term Danaher–Bain Capital: investment, 201210–201302 acquisition $1.6b of 50/50 jv Apex Tool Group by Bain Capital w $560m Danaher net proceeds
Person Person McGrew, Matt R. (Danaher 201104 VP Investor Relations)
     


Danaher Corporation (NYSE:DHR) and Cooper Industries (NYSE:CBE) announced today that they have signed a definitive agreement to sell Apex Tool Group to Bain Capital for approximately $1.6 billion subject to post-closing adjustments. Currently, Danaher and Cooper each maintain a 50% joint venture ownership interest in Apex. Danaher expects the sale to generate after-tax net proceeds of approximately $650 million.

The closing of the definitive agreement is subject to customary conditions, including regulatory approvals. The parties currently expect that the transaction will close in the first half of 2013.


* * *


About Danaher

Danaher is a science and technology leader that designs, manufactures, and markets innovative products and services to professional, medical, industrial, and commercial customers. Our premier brands are among the most highly recognized in each of the markets we serve. The Danaher Business System provides a foundation to our 59,000 associates around the world, serving customers in more than 125 countries. In 2011, we generated $16.1 billion of revenue. For more information please visit our website: www.danaher.com.

Forward-looking statements

Statements in this release that are not strictly historical, including statements regarding the proposed sale of Apex, the expected timetable for completing the transaction, the anticipated after-tax net proceeds from the sale and any other statements regarding events or developments that we believe or anticipate will or may occur in the future, are "forward-looking" statements within the meaning of the federal securities laws, and involve a number of risks and uncertainties. There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include risks and uncertainties related to, among other things: general economic conditions and conditions affecting the industries in which Apex operates; the uncertainty of regulatory approvals; and the parties' ability to satisfy the closing conditions and consummate the transaction. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in Danaher's SEC filings, including Danaher's Annual Report on Form 10-K for the year ended December 31, 2011 and Quarterly Report on Form 10-Q for the quarter ended June 29, 2012. These forward-looking statements speak only as of the date of this release and Danaher does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise, except as required by law.


Danaher contact:

Matt R. McGrew
Vice President, Investor Relations
Danaher Corporation
2200 Pennsylvania Avenue, NW
Suite 800W
Washington, D.C. 20037
Telephone: (202) 828-0850
Fax: (202) 828-0860

   
Record changed: 2016-03-19

Advertisement

Picture EBD Group BIO-Europe Spring 2017 BES Barcelona Spain March 600x60px

More documents for Danaher (Group)


To subscribe to our free, monthly mass spectrometry newsletter, please send an e-mail to info@iito.de and simply fill the subject line with the word »MSC newsletter«

To get even more information, please take a look at our [gs] professional services offering and read the gene-sensor Product Flyer [PDF file]

Please visit also our web portals for the Eurpean life sciences and the life sciences in German-speaking Europe (DE, AT & CH) at Life-Sciences-Germany.com and Life-Sciences-Europe.com

Advertisement

Picture AB Sciex Berliner LCMSMS Symposium 2017 Middle 600x60px




» top

Advertisements

Picture [iito] Twitter iitoLifeScience Life Sciences Mass Spec 120x120px BCNP Consultants European Chemistry Partnering 2017 Ffm Germany 120x180px Picture EBD Group BIO-Europe Spring 2017 BES Barcelona Spain March 120x180px Picture AB Sciex Berliner LCMSMS Symposium 2017 Right 120x80px Picture [LSE] Life-Sciences-Europe.com – The Business Web Portal 120x600px Banner Fairtec GmbH Solutions for Smarter Business Events Exhibitions 120x120px Picture [iito] Twitter iitoLifeScience Life Sciences Mass Spec 120x120px