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September 26, 2006
Danaher in Preliminary Talks with Vision Systems
Danaher (DHR) has confirmed that it's in preliminary talks with Vision Systems of Australia.
Austalia's The Age has more on the bidding:
The battle for control of Vision Systems is expected to intensify after the entry of a third bidder willing to offer about $2.50 a share for the medical instruments company.
The new bidder is expected to be Danaher Corporation of the US state of Washington (No, mate. Danaher is based in Washington, DC). Danahar makes a variety of instruments, tools and dental diagnostic equipment. Danaher could table a bid "within a matter of days", according to The Wall Street Journal.
An offer of $2.50 would give Vision a value of about $530 million and eclipse earlier indicated offers from Ventana Medical Systems and Cytyc Corporation.
Investors yesterday pushed Vision's shares up 3ยข to $2.54.
Vision directors last night said they had not endorsed any offer from Cytyc and therefore the Ventana merger proposal was still live. They warned shareholders not to accept the Cytyc on-market offer.
Posted by edelfenbein at September 26, 2006 10:46 AM
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