(RTTNews) - Danaher Corp. (DHR), a science and technology company, announced Monday that it has signed an agreement to sell certain of its businesses in the Life Sciences segment to Sartorius AG for approximately $750 million.
Danaher said the planned sale is a step towards obtaining regulatory approval for its pending acquisition of the GE Biopharma business. The closing of the Sartorius AG agreement is conditioned upon Danaher's closing its acquisition of the GE Biopharma business.
The divesting businesses include label-free biomolecular characterization, chromatography hardware and resins, and microcarriers and particle validation standards businesses. The combined revenue of the businesses was approximately $140 million in 2018.
The company noted that approvals from various regulatory authorities are required for its acquisition of the GE Biopharma business, the proposed regulatory remedies - such as the package of businesses being sold, the approval of Sartorius as the buyer in such remedies, and Sartorius' acquisition.
Thomas Joyce, Jr., President and Chief Executive Officer, said, "While timing around meeting all closing conditions, including regulatory approvals, is still uncertain, we remain very encouraged by the progress to date and expect closing of the transaction in the first quarter of 2020."
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