{"id":24532,"date":"2012-04-11T08:59:00","date_gmt":"2012-04-11T08:59:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/x-rite-xrit-danaher-will-acquire-the-company\/24529\/"},"modified":"2012-04-11T08:59:00","modified_gmt":"2012-04-11T08:59:00","slug":"x-rite-xrit-danaher-will-acquire-the-company","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/x-rite-xrit-danaher-will-acquire-the-company\/24532\/","title":{"rendered":"X-Rite &#8211; XRIT &#8211; Danaher will acquire the company"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><strong>X-Rite, Incorporated (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=XRIT\">NASDAQ:XRIT<\/a>)<\/strong> announced that it has signed a definitive merger agreement with <strong>Danaher (DHR)<\/strong> under which Danaher will acquire the company for $5.55 per share in cash, or a total of approximately $625 million including the assumption of debt, net of cash. The transaction was unanimously approved by the X-Rite Board of Directors.<\/p>\n<p>The cash tender offer of $5.55 per share is expected to commence within 5 business days. This offer represents a premium of 39% over X-Rite\u2019s closing share price of $4.00 on April 9, 2012, the last trading day prior to the announcement. Certain stockholders representing approximately 68% of the voting power of X-Rite\u2019s outstanding shares intend to tender their shares into the offer.<\/p>\n<p>Thomas J. Vacchiano Jr., XRIT\u2019s Chief Executive Officer said, \u201cJoining Danaher enhances X-Rite\u2019s ability to achieve our growth goals while realizing a significant and immediate all-cash premium for X-Rite stockholders. Danaher\u2019s global scale, market presence and resources will allow X-Rite to accelerate our growth, particularly for our key strategic initiatives like PantoneLIVE and Appearance solutions. As part of Danaher, X-Rite will be able to expand our access to new markets and complementary technologies.\u201d<\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>Upon completion of the transaction, XRIT, headquartered in Grand Rapids, Michigan, will operate as a stand-alone company within Danaher\u2019s Product Identification group which is a part of their Industrial Technology Segment. XRIT\u2019s existing management team will continue to hold key senior leadership positions at the Company following the close of the transaction. XRIT will continue to do business under its existing X-Rite, Pantone and other leading brands.<\/p>\n<p>Vacchiano continued, \u201cOur commitment to our customers, employees, partners and local communities remains unchanged. We expect X-Rite customers and employees to benefit from our being part of a larger, stronger company focused on growth and innovation and which shares our passion for retaining, developing and recruiting the best talent available.\u201d<\/p>\n<p>The transaction is subject to regulatory approval and customary closing conditions. It is expected to close during the second quarter of 2012.<\/p>\n<p>Centerview Partners acted as financial advisor to X-Rite and Winston &amp; Strawn LLP served as legal advisor to X-Rite.<\/p>\n<p><strong>About X-Rite<\/strong><\/p>\n<p>X-Rite is a global leader in color science and technology. The Company, which includes design industry color leader Pantone LLC, develops, manufactures, markets and supports innovative color solutions through measurement systems, software, color standards and services. X-Rite&#8217;s expertise in inspiring, selecting, measuring, formulating, communicating and matching color helps users get color right the first time and every time, which translates to better quality and reduced costs. X-Rite serves a range of industries, including printing, packaging, photography, graphic design, video, automotive, paints, plastics, textiles, dental and medical<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-and-silver-prices-fall-sharply\/24742\"><br \/>\nGold and Silver Prices Fall Sharply<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-headed-for-a-lower-finish-27\/24738\"><br \/>\nStocks Headed for a Lower Finish<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-lower-on-china-euro-zone-worries\/24735\"><br \/>\nStocks Lower on China, Euro Zone Worries<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/genesee-wyoming-gwr-traffic-for-march-2012-and-the-first-quarter-of-2012\/24724\"><br \/>\nGenesee &amp; Wyoming &#8211; GWR &#8211; Traffic for March 2012 and the First Quarter of 2012<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/meridian-bioscience-vivo-awarded-new-agreement-with-premier-healthcare-alliance\/24723\"><br \/>\nMeridian Bioscience &#8211; VIVO &#8211;  Awarded New Agreement with Premier Healthcare Alliance<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/brightpoint-cell-launch-of-waha-the-first-e-commerce-website-dedicated-exclusively-to-windows-phones-in-uae\/24722\"><br \/>\nBrightpoint &#8211; CELL &#8211; Launch of Waha, the first e-commerce website dedicated exclusively to Windows Phones in UAE<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/cherokee-chke-fiscal-2012-represented-a-year-of-accomplishment\/24721\"><br \/>\nCherokee &#8211; CHKE &#8211; Fiscal 2012 represented a year of accomplishment<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>X-Rite, Incorporated (NASDAQ:XRIT) announced that it has signed a definitive merger agreement with Danaher (DHR) under which Danaher will acquire [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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