February 25, 2019 / 2:50 PM / a year ago

Danaher to IPO dental unit after $21.4 billion deal to buy GE's biopharma business

(Reuters) - Medical equipment maker Danaher Corp said it was considering an initial public offering for its dental business, citing the size of its $21.4 billion (£16.4 billion) purchase of General Electric Co’s biopharma business.

The company had said in July last year that it expected to spin off its dental unit into a publicly traded company to be tax-free to shareholders.

Danaher intends to issue about 19.9 percent of the unit’s shares initially, the company’s chief executive officer, Thomas Joyce, said on a conference call with analysts on Monday.

Reporting by Manas Mishra in Bengaluru; Editing by James Emmanuel

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