8-KAcquisitions & DispositionsExhibits & Filings

DANAHER CORP /DE/ 8-K Report, Acquisition Completed (Nov 21, 2007)

Filed November 21, 2007For Securities:DHR

Summary

This Form 8-K filing by Danaher Corporation (DHR) reports the successful completion of its acquisition of Tektronix, Inc. The tender offer, which began on October 15, 2007, for all outstanding Tektronix shares at $38.00 per share, concluded with a subsequent offering period on November 20, 2007. Danaher announced that over 90% of Tektronix's shares were tendered and accepted for payment, paving the way for the merger. On November 21, 2007, Danaher completed the acquisition by merging its subsidiary, Raven Acquisition Corp., with and into Tektronix, making Tektronix an indirect wholly owned subsidiary of Danaher. This move signifies a significant expansion for Danaher into the test, measurement, and monitoring products sector, serving various industries including communications, computer, and aerospace. The acquisition was funded through commercial paper and existing cash reserves.

Key Highlights

  • 1Danaher Corporation has successfully completed its acquisition of Tektronix, Inc.
  • 2The acquisition price was $38.00 per share in cash.
  • 3Over 90% of Tektronix's outstanding shares were tendered and accepted for payment.
  • 4A subsequent offering period allowed for the acquisition of remaining shares.
  • 5Tektronix is now an indirect wholly owned subsidiary of Danaher.
  • 6The acquisition was financed through commercial paper and available cash.
  • 7Tektronix is a prominent supplier in test, measurement, and monitoring products.

Frequently Asked Questions

The primary purpose of this 8-K filing was to report the completion of Danaher Corporation's acquisition of Tektronix, Inc. It details the tender offer process, the percentage of shares acquired, and the subsequent merger.

Danaher funded the acquisition of Tektronix through the issuance of commercial paper and from available cash on hand. Proceeds from a prior issuance of Danaher common stock were also utilized.

Tektronix is described as a leading supplier of test, measurement, and monitoring products and services across a wide range of industries, including communications, computer, consumer electronics, and military/aerospace. The acquisition likely aims to strengthen Danaher's position in these high-growth technology sectors.

Following the merger, Tektronix's shares ceased trading on the New York Stock Exchange. The shares were cancelled and converted into the right to receive $38.00 per share in cash, as per the terms of the merger agreement.