U.S. healthcare conglomerate Danaher Corp said it will purchase Nobel Biocare Holding AG in an all-cash deal valued at about $2.2 billion, including debt, to widen its market presence in the global dental industry.Danaher said it will offer 17.10 Swiss francs per Nobel Biocare share, representing a 7 percent premium to the current 60 day volume weighted average (VWAP) share price and a 28 percent VWAP premium before July 29, when Nobel Biocare said it was in early stage talks over a potential sale.Shares in Nobel Biocare closed up at 18.10 francs on Friday.The deal, which has been recommended by Nobel Biocare's board of directors, is expected to be completed in late 2014 or early 2015.
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. Shares of DHR fell by 0.52% or $-0.4/share to $76.88. In the past year, the shares have traded as low as $66.83 and as high as $81.14. On average, 2825900 shares of DHR exchange hands on a given day and today's volume is recorded at 1914701.
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