Danaher to Sell Some Businesses to Sartorius for $750 Million
October 21 2019 - 6:36AM
Dow Jones News
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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