(MENAFN) Industrial Company Danaher said it plans to acquire water filtration company Pall for USD13.8 billion and announced plans to split into two companies, The Peninsula Qatar reported.
The all-cash deal values Pall at USD127.20 per share, a 28 percent premium above the closing price on May 11, the last day prior to media stories on the possible transaction.
Danaher, which provides industrial goods and services in dental, petroleum and other sectors, said Pall's sophisticated filtration products would boost its water business.
"Pall will provide us a leading business with significant runway for expansion and strengthens our life sciences position in the strategically attractive, high-growth biopharmaceutical market," Danaher chief executive said.
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