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SMT & Inspection |

Danaher to acquire Keithley Instruments

Danaher and Keithley Instruments have entered into a definitive merger agreement pursuant to which Danaher will acquire all of the outstanding Common Shares and Class B Common Shares of Keithley.

Purchase price is USD 21.60 per share in cash for an enterprise value of approximately USD 300 million net of cash to be assumed. The acquisition has been unanimously approved by the Keithley Board of Directors. Upon closing Keithley will be part of Danaher’s Tektronix business. "We are excited about the opportunity to acquire a premier brand and technology leader in bench solutions. Along with Fluke and Tektronix, Keithley further solidifies Danaher’s leading position in the Test & Measurement industry and presents an attractive value creation opportunity", said Jim Lico, Executive Vice President – Danaher. "We believe this transaction creates significant value for Keithley’s shareholders and I am excited about the opportunity this transaction represents for Keithley’s customers and employees. Danaher has a great history of nurturing leading brand names within the Test & Measurement industry and we look forward to joining the Danaher team", said Joseph P. Keithley, Chairman, President and CEO of Keithley. The acquisition is subject to customary closing conditions, including the receipt of regulatory approvals and adoption of the merger agreement by Keithley’s shareholders, and is expected to be completed during the fourth quarter of calendar 2010. A partnership affiliated with Joseph P. Keithley has agreed to vote a number of Class B Common Shares representing 19.99% of the voting power of the Company in favor of the merger.

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March 28 2024 10:16 am V22.4.20-1
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