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Cepheid (CPHD) Stock Surges, to be Acquired by Danaher for $4 Billion

NEW YORK (TheStreet) -- Shares of Cepheid (CPHD) were soaring 51.77% to $52.24 in late-morning trading on Tuesday after Danaher (DHR) agreed to buy the molecular diagnostics company for $4 billion, or $53 per share, in cash.

Danaher said that Sunnyvale, CA-based Cepheid will become part of its diagnostics division. Cepheid develops testing systems that can be used to screen for genetic disorders and to manage infectious diseases.

The deal is subject to shareholder and regulatory approval, but is...