Danaher buying Nobel Biocare for about $2.2B
Sep. 15, 2014
WASHINGTON (AP) — Danaher is buying Switzerland's Nobel Biocare for about $2.2 billion in cash as the healthcare and industrial company pushes for market share in the global dental sector.
Danaher, an industrial and medical equipment maker, will start an all-cash tender offer of 17.10 Swiss francs ($18.27) for each Nobel Bicare share.
Nobel Biocare Holding AG had revenue of approximately $750 million last year. It will join Washington-based Danaher Corp.'s dental unit.
The acquisition is subject to customary conditions including the tender of 67 percent of outstanding shares in the offer, regulatory approvals and the absence of material adverse change for Nobel Biocare.
The deal is expected to be completed later this year or in early 2015.