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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Keithley Instruments, Inc. | NYSE:KEI | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 21.58 | 0.00 | 00:00:00 |
From Dec 2019 to Dec 2024
Tool maker Danaher Corp. (DHR) agreed to acquire Keithley Instruments Inc. (KEI) for about $340 million as Danaher looks to further build its test and measurement operations.
It will pay $21.60 a share for the electronic test-instruments and systems maker, a 74% premium to Tuesday's closing price. The stock had already more than doubled this year and last traded at the offer price in mid-2004.
The deal, set to close in the fourth quarter, will cost Danaher about $300 million as Keithley has about $40 million of cash and no long-term debt. The company will become part of Danaher's Tektronix business.
Danaher, which has been growing through acquisitions, has seen its revenue improve along with the economy. The company in July reported its second-quarter profit rose 26% on better-than-expected sales.
Its stock was down 1% premarket at $41.05. The stock was up 23% the past year through Tuesday.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com
1 Year Keithley Chart |
1 Month Keithley Chart |
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