Summary
Danaher Corporation (DHR) has filed an 8-K report detailing the successful completion of its acquisition of Sybron Dental Specialties, Inc. The acquisition was carried out through a cash tender offer, which initially offered $47.00 per share. The tender offer and a subsequent offering period resulted in Danaher acquiring approximately 96.07% of Sybron's outstanding shares. Following the tender offer, Sybron Dental Specialties, Inc. was merged with and into Danaher's subsidiary, Smile Acquisition Corp., making Sybron an indirect wholly owned subsidiary of Danaher. This strategic move signifies an expansion for Danaher, likely within the dental sector. Investors should note that the shares of Sybron Dental Specialties, Inc. have ceased trading on the New York Stock Exchange as of May 19, 2006. The company has indicated that detailed financial statements and pro forma financial information related to this acquisition will be filed via an amendment to this 8-K report within 71 days.
Key Highlights
- 1Danaher Corporation completed the acquisition of Sybron Dental Specialties, Inc. through a cash tender offer.
- 2The acquisition price was $47.00 per share of Sybron common stock.
- 3Approximately 96.07% of Sybron's outstanding shares were acquired through the tender offer and a subsequent offering period.
- 4Sybron Dental Specialties, Inc. has become an indirect wholly owned subsidiary of Danaher.
- 5Sybron Dental Specialties, Inc. shares have ceased trading on the New York Stock Exchange.
- 6The transaction was executed on an expedited basis using Delaware's short-form merger procedure.
- 7Audited financial statements and pro forma financial information will be filed in an amendment within 71 days.