Danaher Announces Definitive Agreement to Sell Pacific Scientific Aerospace Business for $685 Million

By Danaher Corporation, PRNE
Monday, January 17, 2011

WASHINGTON, January 18, 2011 - Danaher Corporation (NYSE: DHR) announced today that it has signed a
definitive agreement to sell its Pacific Scientific Aerospace business (other
than the Artus business) to Meggitt PLC (LSE: MGGT), a global aerospace and
defense company. Danaher simultaneously received a binding offer from Meggitt
to acquire the Artus business which remains open for 12 months. As required
by French law, Danaher must consult with the Artus works council prior to
concluding an agreement for the sale of the Artus business.

Upon the closing of both transactions, Meggitt will pay Danaher an
aggregate cash purchase price of $685 million, subject to post-closing

Danaher's Pacific Scientific Aerospace business is a leading supplier of
electric power, electric linear actuation, safety and security products to
both the commercial and military aerospace markets. In 2010, the business had
revenues of approximately $378 million and contributed $0.07 to diluted
earnings per share. The business will be treated as a discontinued operation
for financial reporting purposes beginning in the first quarter of 2011.

The closing of the definitive agreement is subject to customary
conditions, including regulatory approvals. The parties currently expect that
the transactions will close in the second quarter of 2011.

Danaher is a diversified technology leader that designs, manufactures,
and markets innovative products and services to professional, medical,
industrial, and commercial customers. Our portfolio of premier brands is
among the most highly recognized in each of the markets we serve. Driven by a
foundation provided by the Danaher Business System, our 47,000 associates
serve customers in more than 125 countries and generated $11.2 billion of
revenue in 2009. For more information please visit our website:

Statements in this release that are not strictly historical, including
statements regarding the proposed divestitures, the expected timetable for
completing the transactions, the anticipated after-tax gain from the
transactions and any other statements regarding events or developments that
we believe or anticipate will or may occur in the future, may be
"forward-looking" statements within the meaning of the U.S. federal
securities laws. There are a number of important factors that could cause
actual events to differ materially from those suggested or indicated by such
forward-looking statements and you should not place undue reliance on any
such forward-looking statements. These factors include, among other things:
general economic conditions and conditions affecting the industries in which
each of Danaher and Meggitt operates; the uncertainty of regulatory
approvals; the parties' ability to satisfy the closing conditions and
consummate the transactions; and the parties' ability to reach a definitive
agreement with respect to and consummate the sale of the Artus business.
Additional information regarding the factors that may cause actual results to
differ materially from these forward-looking statements is available in
Danaher's SEC filings, including its Annual Report on Form 10-K for the year
ended December 31, 2009 and Quarterly Report on Form 10-Q for the quarter
ended October 1, 2010. These forward-looking statements speak only as of the
date of this release and Danaher assumes no obligation to update or revise
any forward-looking statement, whether as a result of new information, future
events and developments or otherwise.

Matt R. McGrew, Vice Presidentt, Investor Relations, Danahe Corporation, +1-202- 828-0850, Fax: +1-202-828-0860

Aerospace / Defense News

January 18 News

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