Deals
Danaher’s Unit Sale Boosts Cash for Acquisition Hunt
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Danaher Corp. may have the largest cash stockpile in its history after selling its Pacific Scientific aerospace unit, fueling Chief Executive Officer Lawrence Culp’s hunt for acquisitions in businesses such as dental and testing equipment.
The $685 million sale to Christchurch, England-based Meggitt Plc announced today will add to Danaher’s reserves, which was $1.64 billion in October. Based on those figures, the total would surpass the previous high of $1.72 billion at the end of 2009, according to data compiled by Bloomberg.