Inside the Deal,Weighing the Investment:Danaher and Beckman Coulter

Danaher,the Washington,D.C. diversified technology company,is acquiring biomedical testing firm Beckman Coulter for 83.50 a share.Beckman Coulter develops,manufactures and markets products that simplify,automate and innovate complex diagnostic systems and research instruments.These products are used by hospitals and clinics to diagnose,make treatment decisions and monitor patients;and by research establishments to study the causes of diseases and possible therapies for them.
Danaher CEO H.Lawrence Culp,Jr. described Beckman as an iconic company with a great brand,broad reach and technology leadership;well-positioned in the markets it serves.It will be an excellent complement to Danaher's Life Sciences and Diagnostics platform,Mr.Culp believes.
An industrial conglomerate,Danaher's portfolio of products-in four segments and seven platforms-test,measure,identify,control,manipulate and detect for a number of industrial and professional applications,from dentistry and inventory to auto repair.Most notably,Danaher owns the Craftsman hand tools brand.
Danaher(DHR),Beckman Coulter(BEC)

Danaher To Acquire Genetix

Washington,D.C.-based Danaher is continuing to augment its medical holdings.Now the firm is planning to acquire British lab equipment maker Genetix Group,PLC for 102 million dollars.Genetix has a specialty in imagery products that support drug,biologics and diagnostics development.The acquisition should be completed in Q1 of 2010,pending routine approvals.
Danaher also has extensive interests in dental imaging and instruments.Its board of directors has just appointed Dr.Elias A. Zerhouni,M.D. to the board.Dr.Zerhouni is an expert in medical research,radiology and bioengineering.The board feels that Dr.Zerhouni,who has been associated with Johns Hopkins University and the National Institutes of Health,will be an insightful and valuable contributor,especially given Danaher's growing presence in medical technologies.He is a graduate of the University of Algiers.

Conglomerate Still Bulking Up

Industrial conglomerate Danaher is continuing to expand its businesses.The company,which has 1.64 billion dollars in cash,prefers to augment its portfolio rather than pay a significant dividend.In September,Danaher bought the analytical technologies business of MDS,Inc. of Mississauga,Ontario,plus a 50% stake in a joint venture with the Canadian firm.The total cost of those deals was 650 million dollars U.S.Then Danaher acquired the remaining 50% of AB Sciex,a mass spectrometry maker,from Life Technologies of Carlsbad,California for 450 million.And it's still shopping.
Danaher said it had a solid beginning to Q4.The order book was stronger than expected,with good results across all its platforms,including Gilbarco fuel pumps,test and measurement,and Leica medical instruments.The Craftsman tool line is the most famous brand in Danaher's holdings.Based in Washington,D.C.,Danaher was paying a 12-cent dividend as of yesterday.The company employs about 50,000.