LONDON, UK / ACCESSWIRE / September 7, 2016 / Active Wall St. blog coverage looks at the headline from Danaher Corp. (NYSE: DHR) as the company reported on September 6, 2016, that it plans to acquire molecular diagnostic company Cepheid (NASDAQ: CPHD) in an all cash deal valued at $ 4 billion. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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Danaher is a global science and Technology company and its main business units include dental, industrial technologies, test and measurement, environmental and life sciences and diagnostics.

Sunnyvale, California based Cepheid is a leading and innovative global molecular diagnostics company that develops, manufactures, and markets accurate and easy to use molecular systems and tests.

Terms of the deal

As per terms of the transaction, Danaher will acquire all outstanding shares of Cepheid at $53.00 per share in cash, or a total enterprise value of $4 billion, including cash and debt. The price of the share is at a 54% premium to the closing price of Cepheid shares of $34.42 on September 2, 2016. Once the deal is final, Cepheid will become part of Danaher's Diagnostics business. The transaction is subject to regulatory approval and is expected to be completed by the end of the FY16. Danaher plans to use its cash reserve and debt funding to finance the acquisition.

Commenting on the deal, Thomas P. Joyce, Jr., President and CEO of Danaher stated that:

"We expect Cepheid to be an excellent complement to our existing Diagnostics businesses and to expand our runway for growth across the platform. Cepheid's extensive installed base, test menu, and innovative product offering contribute to its market leadership in molecular diagnostics and we expect it to strengthen our position in this high-growth segment."

John Bishop, Chairman and CEO of Cepheid, had this to say regarding the acquisition:

"As a standalone company for the last 20 years, Cepheid has been a leading innovator in molecular diagnostics. Looking forward as a part of Danaher and its $5 billion Diagnostics platform, we believe that Cepheid will be able to reach an extended level of customers and patients more quickly than we could have on a standalone basis."

Experts feel that Danaher's acquisition of Cepheid is a smart move wherein it can leverage its distribution network and add marketing muscle and widen its global reach.

Stock Performance

Danaher's shares were down 2.08% finishing the day at $79.50 on September 6, 2016, with a total volume of 6.14 million shares changing hands. The company's stock price has gained 13.27% since the beginning of the year and 5.44% in the last month.

Following announcement of the deal, Cepheid's stock price rocketed 52.61%, to close the trading session at $52.53, which was close to the offer price of $53. A total volume of 31.56 million shares were traded, which was higher than the 3 months average volume of 681.75 thousand shares. Year-to-date, the company's shares have gained 43.80%.

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SOURCE: Active Wall Street