Danaher Corporation (NYSE: DHR) plans to make a recommended cash takeover offer, through a 100% owned subsidiary, for all of the issued and to be issued shares of Genetix Group plc (GTX: AIM) for 85 pence per share which would results in an aggregate price of about GBP £50 million.
The offer was accepted by the Board of Genetix who has undertaken to accept the offer. Together with the Board, shareholders have provided irrevocable undertakings to accept the offer which would amount in over 77% of the total issued share capital.
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About Danaher
Danaher (NYSE: DHR), based in Washington. D.C., is a diversified technology leader that designs, manufactures, and markets innovative products and services to professional, medical, industrial, and commercial customers. Our portfolio of premier brands is among the most highly recognized in each of the markets we serve. Driven by the Danaher Business System, our 50,000 associates serve customers in more than 125 countries and generated $12.7 billion of revenue in 2008.
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