U.S. conglomerate Danaher Corp (DHR.N) won EU regulatory approval on Friday for its $5.8 billion purchase of U.S. medical diagnostics company Beckman Coulter (BEC.N), pitting it against giants 3M (MMM.N) and GE (GE.N). The deal is intended to boost Danaher's medical technology revenues to nearly half of group turnover and in the long term close to 40 percent.. Danaher, which unveiled the deal in February, forecast a 5-10 cents a share boost to earnings this year due to the acquisition. The European Commission, the EU competition watchdog, said it had examined the effects of the proposed acquisition in the markets for the sale of clinical in-vitro diagnostics products. It found the deal would not significantly impede effective competition, the Commission said in a statement.
Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. Shares of DHR remained unchanged at $51.61. In the past year, the shares have traded as low as $35.24 and as high as $56.09. On average, 3284650 shares of DHR exchange hands on a given day and today's volume is recorded at 0.
Beckman Coulter, Inc. is a manufacturer and marketer of biomedical testing instrument systems, tests and supplies that simplify, automate and innovate complex laboratory processes It operates in two segments: segments: Clinical Diagnostics and Life Science. Shares of BEC remained unchanged at $83.37. In the past year, the shares have traded as low as $43.95 and as high as $83.41. On average, 749774 shares of BEC exchange hands on a given day and today's volume is recorded at 0.
3M Company (3M) is a diversified technology company with a presence in industrial and transportation; health care; display and graphics; consumer and office; safety, security and protection services, and electro and communications. Shares of MMM remained unchanged at $91.58. In the past year, the shares have traded as low as $76.85 and as high as $97.95. On average, 3200410 shares of MMM exchange hands on a given day and today's volume is recorded at 0.
General Electric Company (GE) is a technology and financial services corporation. Shares of GE remained unchanged at $18.44. In the past year, the shares have traded as low as $13.75 and as high as $21.65. On average, 49465100 shares of GE exchange hands on a given day and today's volume is recorded at 0.
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