SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE TO

(Amendment No. 3)

(Rule 14d-100)

TENDER OFFER STATEMENT UNDER SECTION 14(D)(1) OR 13(E)(1)

OF THE SECURITIES EXCHANGE ACT OF 1934

 

 

DANAHER CORPORATION

(Name of Subject Company (Issuer) and Filing Person (Offeror))

Common Stock, par value $0.01 per share

(Title of Class of Securities)

235851102

(CUSIP Number of Class of Securities)

James F. O’Reilly

Vice President, Associate General Counsel and Secretary

Danaher Corporation

2200 Pennsylvania Avenue, N.W., Suite 800W

Washington, D.C. 20037-1701

(202) 828-0850

(Name, address and telephone number of person authorized to receive notices and communications on behalf of filing persons)

 

 

Copies to:

 

Mark E. Nance

Senior Vice President, General Counsel and Secretary

Envista Holdings Corporation

200 S. Kraemer Blvd., Building E

Brea, California 92821-6208

(714) 817-7000

 

Thomas W. Greenberg

Skadden, Arps, Slate, Meagher & Flom LLP

Four Times Square

New York, New York 10036

(212) 735-3000

 

 

CALCULATION OF FILING FEE

 

Transaction Valuation(1)   Amount of Filing Fee(2)
$3,378,872,138   $438,578
 
(1)

This valuation assumes the acquisition of up to 24,819,099 shares of common stock, par value $0.01 per share, of Danaher Corporation (“Danaher Common Stock”) in exchange for up to 127,868,000 shares of common stock, par value $0.01 per share, of Envista Holdings Corporation (“Envista Common Stock”) held by Danaher Corporation. This valuation, estimated solely for the purpose of calculating the filing fee pursuant to Rule 0-11(a)(4) under the Securities Exchange Act of 1934, as amended, is based on the product of (i) $136.14, the average of the high and low prices of Danaher Common Stock as reported on the New York Stock Exchange on November 14, 2019 and (ii) 24,819,099, the maximum number of shares of Danaher Common Stock to be acquired in the exchange offer (based on the indicative exchange ratio of 5.1520 shares of Envista Common Stock per share of Danaher Common Stock in effect following the close of trading on the New York Stock Exchange on November 14, 2019, the last trading day prior to commencement of the exchange offer).

(2)

The amount of the filing fee has been computed in accordance with Rule 0-11(a)(4) under the Securities Exchange Act of 1934, as amended.

 

☒ 

Check the box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

Amount Previously Paid: $438,578

    

Filing Party: Envista Holdings Corporation

Form or Registration No.: Registration Statement on Form S-4 and Form S-1 (No. 333-234714)

    

Date Filed: November 15, 2019

 

☐ 

Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.

Check the appropriate boxes below to designate any transaction to which the statement relates:

 

  ☐ 

third party tender offer subject to Rule 14d-1.

  ☒ 

issuer tender offer subject to Rule 13e-4.

  ☐ 

going private transaction subject to Rule 13e-3.

  ☐ 

amendment to Schedule 13D under Rule 13d-2.

Check the following box if the filing is a final amendment reporting the results of the tender offer:  ☒

If applicable, check the appropriate box(es) below to designate the appropriate rule provision(s) relied upon:

 

  ☐ 

Rule 13e-4(i) (Cross-Border Issuer Tender Offer)

  ☐ 

Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)

 

 

 


This Amendment No. 3 (this “Amendment No. 3”) amends and supplements the Tender Offer Statement on Schedule TO filed by Danaher Corporation, a Delaware corporation (“Danaher”), with the Securities and Exchange Commission (“SEC”) on November 15, 2019, as amended by Amendment No. 1 to the Tender Offer Statement on Schedule TO filed with the SEC on December 11, 2019 and Amendment No. 2 to the Tender Offer Statement on Schedule TO filed with the SEC on December 16, 2019 (as so amended, the “Schedule TO”).

The Schedule TO relates to the offer by Danaher to exchange up to an aggregate of 127,868,000 shares of common stock of Envista Holdings Corporation, a Delaware corporation (“Envista”), par value $0.01 per share (“Envista Common Stock”), for outstanding shares of common stock of Danaher, par value $0.01 per share (“Danaher Common Stock”), upon the terms and subject to the conditions set forth in the Prospectus, dated December 9, 2019 (the “Prospectus”), the Letter of Transmittal and the Instruction Booklet to the Letter of Transmittal, copies of which are attached to the Schedule TO as Exhibits (a)(1)(i), (a)(1)(ii) and (a)(1)(iii), respectively (which, together with any amendments or supplements thereto, collectively constitute the “Exchange Offer”). In connection with the Exchange Offer, Envista has filed with the SEC under the Securities Act of 1933, as amended, a registration statement on Form S-4 and Form S-1 (Registration No. 333-234714) (the “Registration Statement”) to register shares of Envista Common Stock offered in exchange for shares of Danaher Common Stock tendered in the Exchange Offer and to be distributed in any pro rata dividend to holders of Danaher Common Stock to the extent that the Exchange Offer is not fully subscribed.

The information set forth in the Prospectus, the Letter of Transmittal and the Instruction Booklet to the Letter of Transmittal, copies of which are attached to the Schedule TO as Exhibits (a)(1)(i), (a)(1)(ii) and (a)(1)(iii), respectively, is hereby expressly incorporated herein by reference in response to all the items of the Schedule TO, except as otherwise set forth below. Except as specifically provided herein, this Amendment No. 3 does not modify any of the information previously reported on the Schedule TO.

 

Item 4.

Terms of the Transaction.

Item 4(a) of the Schedule TO, which incorporates by reference the information contained in the Exchange Offer, is hereby amended and supplemented by adding the following thereto:

Based on the final count by the exchange agent, the results of the Exchange Offer are as follows:

 

Total number of shares of Danaher Common Stock validly  tendered

     304,607,504  

Shares validly tendered that were subject to proration

     303,682,229  

“Odd-lot” shares validly tendered that were not subject to proration

     925,275  

Total number of shares of Danaher Common Stock accepted

     22,921,984  

Danaher accepted for exchange 22,921,984 shares of Danaher Common Stock in exchange for the 127,868,000 shares of Envista Common Stock owned by Danaher. Because the Exchange Offer was oversubscribed, Danaher accepted only a portion of the shares of Danaher Common Stock that were validly tendered and not validly withdrawn, on a pro rata basis in proportion to the number of shares tendered. Stockholders who owned fewer than 100 shares of Danaher Common Stock, or an “odd lot,” who validly tendered all of their shares, were not subject to proration, in accordance with the terms of the Exchange Offer. All shares validly tendered by eligible “odd-lot” stockholders have been accepted. The final proration factor of 7.2433% had been applied to all other validly tendered shares of Danaher Common Stock to determine the number of such shares that were accepted.

 

2


On December 18, 2019, Danaher issued a press release announcing the final results of the Exchange Offer, a copy of which is attached as Exhibit (a)(4)(xxvi) hereto and is incorporated herein by reference.

 

Item 12.

Exhibits.

Item 12 of the Schedule TO is hereby amended and supplemented by adding the following thereto:

 

Exhibit

    No.    

 

Description

(a)(4)(xxvi)   Press Release by Danaher, dated December  18, 2019 (incorporated by reference to Danaher’s Form 425 filed with the SEC on December 18, 2019).

 

3


SIGNATURE

After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

DANAHER CORPORATION
By:  

/s/ Matthew R. McGrew

  Name:   Matthew R. McGrew
  Title:   Executive Vice President and Chief
    Financial Officer

Dated: December 18, 2019

 

4

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