Danaher to Sell Some Businesses to Sartorius for $750 Million

Date : 10/21/2019 @ 10:36AM
Source : Dow Jones News
Stock : General Electric Company (GE)
Quote : 11.4  -0.26 (-2.23%) @ 8:20PM

Danaher to Sell Some Businesses to Sartorius for $750 Million

Danaher (NYSE:DHR)
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By Colin Kellaher

 

Danaher Corp. (DHR) on Monday said it agreed to sell some businesses of its life-science segment to Germany's Sartorius AG (SRT.XE) for about $750 million in a bid to gain regulatory approval for its $21 billion acquisition of General Electric Co.'s (GE) GE Biopharma unit.

The Washington science and technology company said the sale includes its label-free biomolecular characterization, chromatography hardware and resins, and microcarriers and particle validation standards businesses, which had combined revenue of roughly $140 million in 2018.

Danaher said the timing around meeting all closing conditions, including regulatory approvals, for the GE Biopharma deal remains uncertain, but said it expects to complete the acquisition in the first quarter of 2020.

Sartorius said the planned acquisition complements its positions in two fast-growing bioanalytics and bioprocessing segments.

Shares of Sartorius rose 4.7% to EUR156.50 on Monday.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

October 21, 2019 06:21 ET (10:21 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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