Hach Co. To Become Subsidiary Of Danaher Corp.

Hach Co. (Loveland, CO) has entered into a definitive merger agreement through which Hach will become a wholly owned subsidiary of Danaher Corp. (Washington, DC). According to the agreement, Hach shareholders will receive .2987 shares of Danaher common stock for each share of Hach common and class A stock. The transaction is valued at approximately $18.50 per share to Hach shareholders, or approximately $325 million. The transaction is expected to be tax-free to the Hach shareholders.

"We are excited about the combination of our two companies," says George Sherman, Danaher president and CEO. "With its premier product offering in water quality analytical instrumentation, Hach represents a very attractive strategic fit with Danaher's process/environmental controls business."

The transaction, which will be accounted for as a pooling of interests, is subject to regulatory review and other customary conditions. The boards of directors of both corporations and a majority of the shareholders of Hach, acting by written consent, have approved the agreement. Lazard Freres & Co. LLC (New York) acted as Hach's investment banker.

Danaher Corp. is a manufacturer of process/environmental controls, tools, and components.

Hach Co. manufactures and distributes laboratory instruments, process analyzers, test kits, test strips, and analytical reagents that are used to analyze the chemical content and other properties of aqueous solutions.

For more information, call Hach at 970-669-3050.