Danaher subsidiary begins subsequent offer for Tektronix shares

By Lisa Kerner

Charlotte, N.C., Nov. 16 - Danaher Corp. subsidiary Raven Acquisition Corp. accepted 69,958,316 shares, or some 83%, of Tektronix, Inc. stock in its $38-per-share tender offer.

The offer ended on Nov. 15, according to a company news release.

Raven began a subsequent offer for the remaining shares at the same $38-per-share price. That offer will expire on Nov. 20 unless extended.

Danaher agreed on Oct. 15 to acquire Tektronix for $2.8 billion including debt.

As previously reported, the transaction is expected to close in the fourth quarter of 2007. Following the closing, Tektronix will become part of Danaher's electronic test platform and its stock will cease trading on the New York Stock Exchange.

Danaher is a Washington, D.C.-based manufacturer of professional instrumentation, industrial technologies and tools and components.

Tektronix supplies test, measurement and monitoring products, solutions and services for the communications, computer, consumer electronics, education, military/aerospace and semiconductor industries. The company is located in Beaverton, Ore.

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