New York, May 13, 2015 -- Moody's Investors Service affirmed its ratings of Danaher Corporation ("Danaher"): A2 Senior Unsecured and Prime-1 Short-Term following the company's announcement that it has reached an agreement to acquire the Pall Corporation for $13.8 billion. Danaher plans to issue more than $10 billion of debt to fund the purchase and will assume Pall's debt, aggregating $1.2 billion and garner the target's $1.0 billion of cash. Subsequent to the acquisition, management also plans on splitting the company into two independent, publicly-traded companies. The surviving Danaher entity will focus on the science and technology sectors, with the spin-off operations concentrating on industrial product markets. Moody's changed the rating outlook to negative. Danaher expects the transaction to close before December 2015 and the spin-off to occur near or at the end of 2016.

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