Danaher to Acquire Tektronix for $2.8 Billion

Danaher Corporation and Tektronix Inc. announced they have reached a definitive agreement under which Danaher will make a cash tender offer to acquire all of the outstanding common shares of Tektronix for $38.00 per share. The aggregate purchase price is approximately $2.8 billion, including debt, transaction costs and net of cash acquired. The transaction is expected to be completed in the fourth quarter of 2007.

With annual revenues of approximately $1.1 billion, Tektronix is a supplier of test, measurement, and monitoring products enabling the design, manufacture, and management of next-generation global communications networks, computing and advanced technologies. The company would become part of Danaher's Electronic Test platform, joining Danaher's Fluke and Fluke Networks businesses, and nearly doubling the platform’s revenues, the companies said.

Danaher's President and CEO, H Lawrence Culp Jr, said, "With its well recognized brand, significant global reach and broad based expertise in providing solutions for end-users in research and product development for high-growth industries we believe Tektronix provides an excellent complement to our existing Electronic Test business. We have long admired Tektronix's product innovation and excellent reputation. Through the application of the Danaher Business System we believe we can continue to deliver strong results in our established businesses and look at attractive adjacent markets for future growth opportunities. We are very pleased to welcome Tektronix's management team and associates to Danaher."

Richard H Wills, Chairman of the Board, President and Chief Executive Officer of Tektronix, said, "The combination of Danaher and Tektronix enables us to leverage each other's strengths and build on our commitment to long-term growth, innovation and continuous productivity improvement. We believe this is a compelling transaction for Tektronix shareholders and that the combined efforts of Danaher and Tektronix will extend the leadership position we have built in our served markets throughout the world."

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www.tektronix.com