Beckman Coulter holders may put 2.5% convertibles until month-end; most holders opt for conversion

By Susanna Moon

Chicago, Aug. 9 - Beckman Coulter, Inc.'s $600 million of outstanding 2.5% senior convertible notes due 2036 are now putable until 5 p.m. ET on Aug. 29.

As of midnight ET on Aug. 8, none of the notes had been tendered in the offer. Meanwhile, investors had converted $599,476,000 principal amount of the notes, with $524,000 principal amount of notes still outstanding.

Holders may put the convertibles at par plus accrued interest, or at $1,005.1389 per $1,000 principal amount including interest.

The company said on June 30 that the convertibles were putable as a result of the company's acquisition by Danaher Corp.

The notes also are convertible until Aug. 29, and holders will receive $1,200.7467 in cash for every $1,000 principal amount of the notes converted.

Danaher completed a cash tender offer to acquire Beckman Coulter shares on June 24.

Wells Fargo Bank, NA is the trustee and depositary (800 344-5128). Okapi Partners LLC (877 274-8654) is the information agent.

Beckman Coulter is a biomedical testing company based in Fullerton, Calif. Danaher is a Washington, D.C.-based manufacturer of professional instrumentation, industrial technologies and tools and components.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.