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Danaher Bolsters Diagnostics Business with Cepheid Purchase

Recently slimmed-down medical technology maker Danaher (DHR) said on Tuesday it will pay $4 billion including debt for peer Cepheid (CPHD) to boost its molecular diagnostics business.

Danaher, of Washington, said it agreed to offer $53.00 a share for Sunnyvale, Calif.-based Cepheid, or almost 54% more than the target's Friday closing price of $34.42.

The purchase comes two months after Danaher, a one-time real estate investment trust-turned conglomerate, completed the spinoff of...