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Today's M & A: Danaher Acquiring Keithley Instruments

Earlier today, Danaher (NYSE:DHR), the diversified technology manufacturer, announced that it would acquire Keithley Instruments (KEI)for a 70% premium.   Keithley's shares were up over 72% after the announcement trading from $12 a share to over $21. Prior to the announcement, shares of Keithley have already tripled from $4 to $12 this year.

<a href=";>KEI Chart</a>

Keithley Instruments designs and manufactures precision electronic test and measurement systems such as DC/AC instruments, semiconductor test systems & software, and switch systems.  In addition to producing test and measurement devices, their acquiring company Danaher, produces motion systems, product identification products, hand tools, environmental & medical products. Danaher says that the acquisition will further their footprint in the test and measurement field.
Danaher's shares were trading down about $.30 to $41.15 midday.

<a href=";>DHR Chart</a>

Disclosure: No positions