Danaher Closes Subsequent Offering Period for Tektronix; Acquires Over 90% of TEK Shares
Danaher Corporation (NYSE: DHR) and Tektronix, Inc. (NYSE: TEK) jointly announced today the expiration, as of 11:59 PM, New York City time, on November 20, 2007, of the subsequent offering period in the tender offer made by Raven Acquisition Corp., Danaherís indirect wholly owned subsidiary, for all of the outstanding shares of Tektronix, Inc. common stock. The initial tender offer period expired on November 15, 2007.
According to the final report of the depositary for the offer, as of the expiration of the subsequent offering period, a total of approximately 69,094, 604 shares of Tektronix common stock had been validly tendered and not withdrawn into the offer (including shares tendered during the subsequent offering period and excluding shares previously tendered pursuant to guaranteed delivery procedures that were not actually delivered). Stockholders who validly tendered and did not withdraw their shares will promptly receive the offer price of $ 38.00 per share, net to the seller in cash without interest. As a result of these purchases in the tender offer and subsequent offering period, Danaher, through Raven Acquisition Corp., now owns over 90% of the outstanding shares of Tektronix common stock.
Raven will promptly acquire all of the remaining outstanding shares of Tektronix common stock by means of a short-form merger under Oregon law. In the merger, Raven will merge with and into Tektronix, and Tektronix will become an indirect wholly owned subsidiary of Danaher. In the merger, each outstanding share of Tektronix common stock will be cancelled and (except for shares held by Danaher or Raven and certain restricted shares) converted into the right to receive $38.00 per share, net to the seller in cash without interest. Following the merger, detailed instructions will be mailed to Tektronix stockholders who did not tender in the offer outlining the steps to be taken to obtain the merger consideration.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.