91st Oscars - Oscar Week: Animated Features Getty Images Billionaire Steven Rales, who co-produced Wes Anderson’s latest animated movie Isle of Dogs , walked away empty handed from Sunday night’s Academy Awards ceremony. Hours after losing the esteemed golden statue to Spider-Man: Into The Spider Verse , however, Rales emerged as a big winner. Danaher, the science and technology conglomerate Steven and his brother Mitchell Rales cofounded in 1981, announced early on Monday morning at 7 a.m.
The modest vinyl siding business was just a start for the brothers. Two years later, they bought a struggling REIT that hadn’t reported a profit since 1975. They renamed the REIT “Danaher” a year later, after a Montana stream where the brothers once caught a lot of trout. The near-bankrupt REIT served as their tax shelter while they pursued acquisitions across multiple sectors; from tires to aluminum products.
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GE to Sell BioPharma Business to Danaher for $21.4 BillionGeneral Electric to sell biopharma unit to Danaher for $21.4 billion, part of a strategy to reduce leverage and boost its balance sheet Excellent Wow
Source: WSJ - 🏆 98. / 63 Read more »
GE's stock soars after deal to sell biopharma business to Danaher for $21.4 billionShares of General Electric Co. shot 8.8% in premarket trade Monday, after the industrial conglomerate agreed to sell its biopharma business to Danaher Corp. for $21.4 billion in cash. "Today's transaction is a pivotal milestone," said GE Chief Executive Lawrence Culp. "It demonstrates that we are executing on our strategy by taking thoughtful and deliberate action to reduce leverage and strengthen our balance sheet." Culp had served as CEO of Danaher from 2001 to 2014. Danaher said it expects to finance the deal with $3 billion from an equity offering, cash on hand and the issuance of debt. Danaher expects the deal, which is expected to close in the fourth quarter of 2019, to reduce net earnings by share by $1.15 to $1.20 in the first full year, but add to adjusted EPS by about 45 cents to 50 cents. GE's stock has soared 34.4% over the past three months through Friday, while Danaher shares have climbed 10.8% and the Dow Jones Industrial Average has gained 7.2%.
Source: MarketWatch - 🏆 3. / 97 Read more »