Industrial and medical conglomerate Danaher Corp said it will purchase diagnostics company IRIS International Inc for $355 million. Danaher will pay $19.50 in cash for each IRIS share, representing a premium of about 45 percent to the stock's Friday's close.The deal is expected to close during the fourth quarter of this year, Danaher said.Danaher shares closed $54.76 on Friday on the New York Stock Exchange.
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. Shares of DHR remained unchanged at $54.76. In the past year, the shares have traded as low as $39.34 and as high as $56.45. On average, 2811950 shares of DHR exchange hands on a given day and today's volume is recorded at 0.
IRIS International, Inc. is a manufacturer of automated in vitro diagnostic systems (IVD), sample processing products and personalized diagnostics tests for use in hospitals and laboratories worldwide. Shares of IRIS remained unchanged at $13.42. In the past year, the shares have traded as low as $7.95 and as high as $13.92. On average, 43994 shares of IRIS exchange hands on a given day and today's volume is recorded at 0.
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