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Fortive to buy radiation safety company Landauer for $770 million
September 6, 2017 / 1:03 PM / 18 days ago

Fortive to buy radiation safety company Landauer for $770 million

(Reuters) - Fortive Corp (FTV.N) said on Wednesday it would buy Landauer Inc (LDR.N), a provider of radiation safety and outsourced medical physics services, for about $770 million, including debt.

Landauer’s shares were up 12.6 percent at $69.10 in premarket trading, topping the offer price of $67.25.

Fortive’s offer represented a 9.6 percent premium to the stock’s closing price on Tuesday.

Landauer would be a part of Fortive’s field solutions platform, which includes its Fluke and Qualitrol businesses, that make test and measurement tools and precision equipment for utilities, power companies and other industries.

Everett, Washington-based Fortive, the industrial technology spin-off of Danaher Corp (DHR.N), would fund the deal with available cash and credit.

Lazard was the financial adviser to Landauer.

Reporting by Arunima Banerjee in Bengaluru; Editing by Savio D'Souza and Shounak Dasgupta

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