Danaher Corporation has offered to buy Tektronix, the Beaverton, Oregon-based supplier of test and measurement equipment, for $38 per share, or approximately $2.8bn in cash.
The Board of Directors of Tektronix has unanimously recommended that Tektronix shareholders accept and tender their shares into the offer, which represents a premium of approximately 34 per cent to Tektronix’s closing price on October 12, 2007.
The transaction is subject to customary conditions and is expected to be completed in the fourth quarter of 2007.
Once the deal is finalised, Tektronix will become part of Danaher’s electronic test businesses, joining Danaher’s Fluke and Fluke Networks companies.
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