Danaher to acquire Keithley Instruments
Danaher Corporation and Keithley Instruments announced today that they have entered into a definitive merger agreement pursuant to which Danaher will acquire all of the outstanding Common Shares and Class B Common Shares of Keithley at a purchase price of $21.60 per share in cash for an enterprise value of approximately $300 million net of cash to be assumed. The acquisition has been unanimously approved by the Keithley Board of Directors.
Keithley Instruments designs, develops, manufactures, and markets complex electronic instruments and systems geared to the specialised needs of engineers at electronics manufacturers and academic institutions for research, product development, high-performance production testing and process monitoring. The Company currently offers approximately 150 products used to source, measure, connect, control or
communicate direct current (DC), and alternating current (AC) signals. Their product offerings include integrated systems solutions, along with instruments and data acquisition modules that can be used as system components or stand-alone solutions. Upon closing Keithley will be part
of Danaher's Tektronix business.
"We are excited about the opportunity to acquire a premier brand and technology leader in bench solutions," said Jim Lico, Executive Vice President - Danaher. "Along with Fluke and Tektronix, Keithley further solidifies Danaher's leading position in the Test & Measurement industry and presents an attractive value creation opportunity."
"We believe this transaction creates significant value for Keithley's shareholders and I am excited about the opportunity this transaction represents for Keithley's customers and employees," said Joseph P. Keithley, Chairman, President and CEO of Keithley. "Danaher has a great history of nurturing leading brand names within the Test & Measurement industry and we look forward to joining the Danaher team."
The acquisition is subject to customary closing conditions, including the receipt of regulatory approvals and adoption of the merger agreement by Keithley's shareholders, and is expected to be completed during the fourth quarter of calendar 2010. A partnership affiliated with Joseph
P. Keithley has agreed to vote a number of Class B Common Shares representing 19.99% of the voting power of the Company in favor of the merger.
Review – HR 9466 Introduced – AI Standards
-
Last month, Rep Baird (R,IN) introduced HR 9466, the AI Development
Practices Act of 2024. The bill would amend 15 USC 278h-1, Standards for
artificial i...
No comments:
Post a Comment