Beckman Coulter to be bought for $5.9B

Medical and industrial instruments maker Danaher Corp. said Monday it agreed to buy medical testing instrument maker Beckman Coulter Inc. for about $5.87 billion.

Beckman Coulter Inc., which is based on Brea, Calif., makes products that simplify and automate biomedical testing. The company was once part of Philadelphia's SmithKline Beckman, now GlaxoSmithKline, until it was spun off in 1989.

The purchase price amounts to $83.50 a share, a 45 percent premium over Beckman's close on Dec. 9, the day before acquisition rumors surfaced. Today, Beckman Coulter was up $7.31, or 10 percent, to $82.48 in midday trading.

The deal is expected to be completed in the first half of this year.

Closing depends on a majority of Beckman Coulter shareholders tendering their shares in favor of the deal. Beckman Coulter said its board unanimously supports the sale.

Danaher, which is based in Washington, D.C., reported $13.2 billion in revenue in 2010, with $2.3 billion from the life sciences business. Beckman Coulter has not reported its full-year results, but it had $2.68 billion in revenue in the first nine months of the year.    - AP