Danaher to buy Pall Corp in $13.8 billion deal, split into two

Danaher Corp will buy air and water-filter maker Pall Corp in a $13.8 billion deal to tap into fast-growing demand from the biotechnology industry, and said it would split into two listed companies after the deal. The $20-billion filtration market is expected to grow due to strong demand for advanced purification systems as biotechnology companies launch more biologics, drugs made from living cells. “That means an increase in production and more demand for filtration products and services.” Danaher and Pall Corp shares each rose as much as 5 percent to touch record highs of $90 and $124.61, respectively, on the New York Stock Exchange on Wednesday. Danaher’s offer of $127.20 per share represents a premium of 28 percent to Pall Corp’s close on Monday.
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