Danaher Receives Clearance From U.S. Federal Trade Commission For The Acquisition Of The Biopharma Business Of General Electric Life Sciences
WASHINGTON, March 19, 2020 /PRNewswire/ -- Danaher Corporation (NYSE: DHR) ("Danaher") announced today that the U.S. Federal Trade Commission (the "FTC") has accepted the proposed consent order in connection with Danaher's definitive agreement with General Electric Company ("GE") (NYSE: GE) to acquire the Biopharma business of GE Life Sciences ("GE Biopharma").
The acceptance by the FTC satisfies all required antitrust clearances needed to be obtained for the acquisition of GE Biopharma by Danaher. In addition to the FTC, the transaction has also been cleared by the European Commission and the Brazilian, Chinese, Israeli, Japanese, Korean and Russian antitrust authorities. The closing of the acquisition remains subject to other customary closing conditions set forth in the purchase agreement. Danaher currently expects that the acquisition will be completed on March 31, 2020.
Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world class brands has leadership positions in the demanding and attractive health care, environmental and applied end-markets. With more than 20 operating companies, Danaher's globally diverse team of more than 60,000 associates is united by a common culture and operating system, the Danaher Business System, and its Shared Purpose, Helping Realize Life's Potential. For more information, please visit www.danaher.com.
Statements in this release that are not strictly historical, including the statements regarding the anticipated acquisition of GE Biopharma and the timing thereof and any other statements regarding events or developments that we believe or anticipate will or may occur in the future are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, the parties' ability to satisfy the remaining acquisition agreement conditions and consummate the acquisition of GE Biopharma on the anticipated timetable and terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our 2019 Annual Report on Form 10-K. These forward-looking statements speak only as of the date of this release and except to the extent required by applicable law, the Company does not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
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