Cooper Industries rejects Danaher buyout offer - Brief Article - Statistical Data Included
Home Channel News, Sept 3, 2001
Houston-based electronics and tools supplier Cooper said that a $5.5 billion bid made on Aug. 1 by Washington, D.C.-based toolmaker Danaher was "opportunistic" and didn't reflect the company's value. Danaher, which tried to buy Cooper two years ago, offered to assume $1 billion of Cooper's debt.
Cooper has instructed its financial advisor, Credit Suisse First Boston, to explore options that could include a merger, a sale of the company or an alliance with another company. Cooper CEO John Riley said that his firm had received calls from other interested parties after news of Danaher's offer became public.
COPYRIGHT 2001 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
COPYRIGHT 2001 Gale Group
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