Danaher (DHR) announced that it would acquire the Pall (PLL), a water filtration systems company, for $13.6 billion in cash and split itself into two publicly traded companies.
Pall, based in Port Washington, N.Y., a city on Long Island, makes systems that remove contaminants or separate substances from a variety of solids, liquids and gases. It will be part of a science and technology company that includes Danaher’s diagnostics, dental and water quality businesses. This company, with roughly $16.5 billion in revenue including Pall’s, will keep the Danaher name.
Danaher plans to split off its industrial businesses, which include its test and measurement and automation businesses, into a separate company, with $6 billion in revenue. The company says it expects the separation to take place in a tax-free transaction by the end of next year. Source: Nytimes.com