Danaher to buy Keithley Instruments

Keithley will become part of Danaher’s Tektronix business

Danaher Corp. said today that it has agreed to buy Keithley Instruments Inc. , an electrical test instruments and systems manufacturer for $21.60 a share, a deal valued at about $300 million net of cash to be assumed.

"Along with Fluke and Tektronix, Keithley further solidifies Danaher's leading position in the test and measurement industry and presents an attractive value creation opportunity," said Jim Lico, executive vice president at Danaher.
Upon the closing of the transaction, Keithley would be part of Danaher's Tektronix business.

The acquisition, subject to customary closing conditions, is expected to be completed during the fourth quarter of calendar 2010. The acquisition has been unanimously approved by the Keithley board.