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European Regulators Clear Danaher to Buy Beckman Coulter

Danaher Corp. said Thursday that its proposed $6.8 billion buy of Brea medical testing company Beckman Coulter Inc. received European regulatory clearance.

The Washington, D.C.-based conglomerate said in a release that Europe was the last applicable regulatory approval it needed to buy Beckman.

Danaher’s deal for Beckman, a maker of medical testing instruments and supplies, was announced in February and is expected to close later this month.

Earlier this week, Danaher said it would sell 17.5 million shares of common stock to help pay for the Beckman deal. Danaher said it expects net proceeds of the offering to be $877.4 million.

Danaher is best known as the maker of Craftsman tools sold at Sears. The company, which has annual sales of around $13 billion, wants Beckman in a bid to boost its life science and diagnostic units.

Before the deal announcement, Beckman was the subject of about two months of offers and jockeying by private equity firms, Danaher and others.

The company started exploring offers after a difficult 2010 where it wrestled with quality and regulatory issues and saw the departure of longtime chief executive Scott Garrett.

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