IFLR1000

Danaher $13.8 billion acquisition of Pall

31/8/2015
Acquisition finance, Investment grade bond/note issue, Public acquisition
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$ 13.8 billion

Completed

31/8/2015

Overview:

  • Industrial and consumer technology products manufacturer Danaher has completed its $13.8 billion acquisition of filtration products creator Pall.
  • The transaction forms part of Danaher's plan to split itself in two, once it divests industrial units.
  • The price tag amounted to $127.20 per Pall share.
  • Financing for the deal was gained in part from the issue of multi-currency notes issued by two Luxembourg subsidiaries.
  • The deal was first announced in May 2015.

Kurt Stumpo - Journalist

Jurisdictions:

United States
Luxembourg

Deal types:

Acquisition finance
Investment grade bond/note issue
Public acquisition

Practice area:

M&A

Governing law:

United States

Industry sectors:

Industrials and manufacturing
Technology and telecommunications

Firms:
Luther

Party: Danaher (Issuer)

Shearman & Sterling

Party: Pall (Target)

Lawyers: Creighton Condon, David Beveridge, Gus Atiyah

Skadden Arps Slate Meagher & Flom

Party: Danaher (Acquirer)

Lawyers: Joseph Coco, Michael Civale, Thomas Greenberg

Weil Gotshal & Manges

Party: Citigroup (Underwriter)

Party: Barclays (Underwriter)

Party: Deutsche Bank (Joint bookrunner)

Party: Merrill Lynch Pierce Fenner & Smith (Joint bookrunner)

Party: BNP Paribas (Joint bookrunner)

Party: HSBC (Joint bookrunner)

Party: Morgan Stanley (Joint bookrunner)

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