Danaher Corp. has completed its $21.4 billion acquisition of General Electric Co.'s biopharma business.
The total consideration included about $21 billion in cash as well as Danaher's assumption of certain pension liabilities. After taking into account deal taxes, deal fees and factored receivable balances, GE's net proceeds from the transaction were about $20 billion, according to a March 31 news release.
GE's biopharma business, which was part of the GE Life Sciences division, provides equipment and software used in biopharmaceutical research. As part of the Washington, D.C.-based maker of medical, industrial and commercial products and services, the business will be called Cytiva and will be a stand-alone company within Danaher's life sciences segment.
The acquisition was previously cleared by the U.S. Federal Trade Commission, the European Commission and antitrust authorities in Brazil, China, Israel, Japan, South Korea and Russia after Danaher divested certain assets to ease antitrust concerns regarding the deal.