The Board of Leica Geosystems Recommends CHF 500 Cash Offer from Danaher Corporation

Following the Hexagon offer, Danaher Corporation (Denmark) approached Leica Geosystems (Switzerland) with a view to making a friendly cash offer for the company. Danaher Corporation officially pre-announced its cash offer at CHF 500 per share for 100 per cent of the issued and to be issued share capital of Leica Geosystems (the 'Danaher Offer'). The Board of Leica Geosystems believes that the Danaher Offer clearly represents superior value for its shareholders compared to Hexagon's offer which the Board has unanimously rejected. Danaher Corporation has confirmed its commitment to maintain Leica Geosystems’ identity and to safeguard the interests of its customers and employees. Accordingly, the Board of Leica Geosystems has decided to recommend the Danaher Offer.
In its response to the unsolicited offer of Hexagon, the Board of Leica Geosystems announced that it was exploring, and prepared to pursue, other alternatives to the Hexagon offer, provided that such alternatives represented fair value for Leica Geosystems shareholders. In exercising its fiduciary duties, the Board negotiated and agreed on the terms and conditions of the Danaher Offer.
Danaher Corporation intends to support the continued execution of Leica Geosystems' strategy and business plan and to accelerate the implementation of Leica Geosystems’ profitable growth strategy, notably in the US market where Leica Geosystems has significant scope for expansion. Also, Danaher intends to provide Leica Geosystems with support to grow via acquisitions by contributing its management tools, its global commercial platform and the financial flexibility required to fuel such rapid development.