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Business/Financial

Meggitt To Acquire Danaher’s Aerospace Business For $685 Million

DDN

Wednesday, January 19th, 2011

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Britain's Meggitt Plc has agreed to acquire Danaher Corp.'s [DHR] Pacific Scientific Aerospace business for $685 million, boosting its presence in key commercial aerospace programs and on defense programs. Pacific Scientific Aerospace had $378 million in sales last year and contributed 7 cents earnings per share to Danaher's bottom line. Sales are roughly split between defense and commercial customers. Commercial customers include Boeing [BA] and Airbus. The business unit designs, develops, manufactures and markets smoke detection and fire suppression systems,…

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