Pall to be Acquired by Danaher

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Pall has agreed to be acquired by Danaher for $127.20 per share.

Pall announced on May 13, 2015 that the company has entered into an agreement to be acquired by Danaher, a global science and technology company.  The merger agreement between the two companies states that Danaher will pay $127.20 per share in cash (a total enterprise value of approximately $13.8 billion), including assumed debt and net of acquired cash.  Pall, a filtration, separation, and purification company, will maintain its brand and be a subsidiary of Danaher.

"This transaction delivers substantial value to our shareholders and creates an incredible opportunity for long-term growth that will benefit all of our stakeholders. Pall is a complementary fit for Danaher, with Danaher's proven management system and strong financial position coupled with Pall's expertise, brand and channel strength in the field of filtration and separation science enabling the creation of tremendous value for the global customers of the combined company. Our employees will benefit by being associated with a world-class company that has the capability to further enhance Pall's market position," Larry Kingsley, chairman and CEO of Pall Corporation said in a press release.

Danaher's President and CEO, Thomas P. Joyce, Jr., said in a press release, "Pall is a highly attractive business, with approximately 75% recurring revenues, mid-single digit organic growth, and a solid margin profile. Its best-in-class technology, combined with the broadest, most technically advanced solutions, make it the premier brand in the filtration industry. Pall will provide us a leading business with significant runway for expansion and strengthens our life sciences position in the strategically attractive, high-growth biopharmaceutical market. With the Danaher Business System as a foundation, Pall associates will have the tools to accelerate new product development and improve operational efficiency in the years to come. We look forward to welcoming the Pall team to Danaher."


It is expected that the transaction will be completed by the end of 2015, subject to customary closing conditions and approval by Pall shareholders.

Sources: Pall Corporation, Danaher Corporation