(Updates with stock price movement in the headline and first paragraph.)
Masimo (MASI) shares jumped 34% Tuesday after Danaher (DHR) agreed to acquire the company for $180 per share in cash, or a total enterprise value of about $9.9 billion, including assumed indebtedness and net of acquired cash.
Upon completion of the deal, expected in H2, Masimo will be a standalone operating company within Danaher's Diagnostics segment, Danaher said.
"We look forward to joining Danaher and continuing our growth and momentum as the global leader in patient monitoring," Masimo Chief Executive Katie Szyman said. "Danaher shares our commitment to investing in talent and innovation and will be an ideal fit to help power the next chapter of Masimo."
Price: 204.94, Change: -7.64, Percent Change: -3.59