By Anna Nicolaou and Pan Yuk in New York, Senior Staff Writers, Financial Times:

Danaher, a US industrial and healthcare equipment company, is to acquire Pall, a maker of water-filtration systems, in a $13.8bn all-cash deal. Announcing the merger on Tuesday, Danaher also said it would split itself into a science and technology company, including Pall, and an industrial company before the end of next year. The price of $127.20 a share represents a 28 per cent premium to Pall’s closing price on Monday, before the Wall Street Journal reported Pall may sell itself.

Ryan Mendy, chief operating officer of The Edge Consulting Group, a corporate research company, said investors should welcome the deal because Danaher had “basically cleaned up its business”.

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