Beckman Coulter's Board of Directors Recommends Stockholders Accept Danaher's Cash Tender Offer
ORANGE COUNTY, Calif., Feb. 15, 2011 -- Beckman Coulter, Inc. (NYSE: BEC) announced today that its board of directors unanimously recommends that Beckman Coulter's stockholders tender their shares to Danaher Corporation (NYSE: DHR) at the previously announced price of $83.50 per share of Beckman Coulter's common stock.
The transaction is expected to close during the first half of 2011 and is subject to various conditions, including the tender of at least a majority of the outstanding shares, calculated on a fully-diluted basis, of Beckman Coulter's common stock in the tender offer and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other applicable regulatory approvals. Following completion of the tender offer, Danaher will acquire all remaining shares of Beckman Coulter's common stock through a second step merger at the same price per share paid in the tender offer (without interest and subject to applicable withholding taxes).
In consultation with its independent financial and legal advisors, Beckman Coulter has filed a solicitation/recommendation statement on Schedule 14D-9 with the Securities and Exchange Commission. Stockholders of Beckman Coulter are advised to read Beckman Coulter's Schedule 14D-9 statement because it contains important information. Stockholders may obtain a free copy of the statement at the SEC's website at www.sec.gov. Stockholders may also obtain, without charge, a copy of the statement from Beckman Coulter by telephone at (714) 961-6320, by mail at Beckman Coulter, Inc., Investor Relations, 250 S. Kraemer Blvd, Brea, California 92822, or by going to Beckman Coulter's Investor Relations page on its corporate web site at www.beckmancoulter.com.
Goldman, Sachs & Co. is serving as financial advisor, and Latham & Watkins LLP is serving as legal counsel, to Beckman Coulter.
About Beckman Coulter
Beckman Coulter, Inc., based in Orange County, California, develops, manufactures and markets products that simplify, automate and innovate complex biomedical tests. More than 200,000 Beckman Coulter systems operate in laboratories around the world, supplying critical information for improving patient health and reducing the cost of care. Recurring revenue, consisting of consumable supplies (including reagent test kits), service and operating-type lease payments, represent about 80% of the company's 2009 revenue of $3.3 billion. For more information, visit www.beckmancoulter.com.
SOURCE Beckman Coulter, Inc.
CONTACT: Cynthia Skoglund, Investor Relations of Beckman Coulter, Inc., +1-714-961-6320
Web Site: www.beckmancoulter.com
