Fortive Corporation (“Fortive”) (NYSE: FTV) announced today the
successful completion of the tender offer by Fortive through its
indirect, wholly owned subsidiary, Fern Merger Sub Inc., for all of the
outstanding shares of common stock of Landauer, Inc. (“Landauer”) (NYSE:
LDR) at a purchase price of $67.25 per share in cash without interest
thereon and less any applicable withholding taxes. The tender offer and
withdrawal rights expired at 11:59 p.m., New York City time, on October
18, 2017. As of the expiration of the offer, 7,502,392 shares of common
stock of Landauer were validly tendered and not withdrawn in the tender
offer (not counting as validly tendered shares tendered through notice
of guaranteed delivery and not actually delivered). All of such shares
have been accepted for payment in accordance with the terms of the
tender offer.
As a result of the tender offer, Fortive and its subsidiaries owned, in
the aggregate, approximately 77.87% of the outstanding shares of
Landauer, which will allow Fortive to complete and close the merger and
acquisition of Landauer without stockholder approval. All outstanding
shares of common stock of Landauer other than shares held by Fortive,
Fern Merger Sub, Inc., Landauer, or any of their respective wholly-owned
subsidiaries, or shares held by Landauer’s stockholders who are entitled
to and properly exercise appraisal rights under Delaware law, will be
canceled and converted into the right to receive the $67.25 offer price
per share in cash without interest thereon and less any applicable
withholding taxes. In addition, in connection with the merger, the
common stock of Landauer will cease to be traded on the New York Stock
Exchange.
ABOUT FORTIVE
Fortive is a diversified industrial growth company comprised of
Professional Instrumentation and Industrial Technologies businesses that
are recognized leaders in attractive markets. With 2016 revenues of $6.2
billion, Fortive's well-known brands hold leading positions in field
instrumentation, transportation, sensing, product realization,
automation and specialty, and franchise distribution. Fortive is
headquartered in Everett, Washington and employs a team of more than
24,000 research and development, manufacturing, sales, distribution,
service and administrative employees in more than 40 countries around
the world. With a culture rooted in continuous improvement, the core of
our company's operating model is the Fortive Business System. For more
information please visit: www.fortive.com.
Fortive Corporation
Lisa Curran, (425) 446-5000
Vice President, Investor Relations
6920 Seaway Boulevard
Everett, WA 98203