Washington, D.C.-based life sciences tools company Danaher Corp. announced the final exchange ratio for the offer to swap the shares it owns in the recently spun off Envista Holdings Corp.
According to the offer, stockholders will have the option to exchange each Danaher share they own for 5.5784 common shares of Brea, Calif.-based dental-device maker Envista Holdings. Danaher owns about 80.6% — 127,868,000 shares — of Envista, following a recent $643.4 million IPO.
Based on the final exchange ratio, Danaher would accept for exchange approximately 22,921,984 shares upon completion of a fully subscribed exchange offer.
The exchange offer will expire at midnight ET on Dec. 13, unless terminated or extended.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the dealer managers for the exchange offer.