D.C.-based Danaher Corp. (NYSE: DHR) is buying California molecular diagnostics company Cepheid Inc. (NASDAQ: CPHD) for about $4 billion in cash.
The $53 per share price represents a 54 percent premium on its Friday closing price of $34.42 per share. The deal, expected to close in the fourth quarter, would constitute a sizable addition to Danaher’s $8.2 billion life sciences and medical testing and equipment business.