Danaher宣布以138亿美元收购Pall，同时将自己拆分成2家上市公司：生命科学和技术部门保留在Danaher，工业业务将拆分成一家较小的公司，预计2016年下半年完成。Pall将包括在生命科学和技术公司里，这块业务（包含Pall）去年收入165亿美元。

With its largest acquisition ever, of filtration and purification system maker Pall for $13.8 billion, Danaher ($DHR) decided it has the ammunition to break itself into two publicly traded companies. The company's life science and technology units will retain the name Danaher, while a smaller company consisting of Danaher's diverse industrial businesses will be formed in late 2016.

"The pending strategic acquisition of Pall Corporation announced today offers us the unique opportunity to drive greater shareholder value going forward as two stronger and better companies. Each company will be more focused with access to the capital necessary to pursue organic and inorganic growth opportunities," said Danaher CEO Thomas Joyce Jr. in a statement.

Assuming the transaction closes as expected, Pall will become part of the planned life science and technology company. The planned company's components (including Pall) had revenue of about $16.5 billion last year. It will consist of life science equipment, diagnostics, dental devices, water quality and product identification products, as well as Pall.

Danaher said it is particularly interested in Pall's offerings to life science customers, especially its fast-growing sales to biopharmaceutical companies. They are its biggest class of life science customers. About half of Pall's $2.8 billion in revenue comes from sales of life science products to the biopharmaceutical, food and beverage and medical markets. The remainder came from industrial offerings to customers like airplane manufacturers.

But during a call with Wall Street investors following the twin announcements, Danaher affirmed that the entirety of Pall will be part of the new Danaher. Company officials said that the businesses Danaher will retain have a "razor/razor blade type" model, meaning they involve recurrent revenues and high use of consumable products.

Meanwhile, Danaher's soon-to-be independent industrial business had revenues of $6 billion last year.

Danaher officials said the acquisition of Pall provided the impetus to implement their long-held plan to split the company in two. The move comes on the heels of 9 announced M&A deals by Danaher since 2014, according to Bloomberg. And last year, Danaher was outbid by the Carlyle Group for Johnson & Johnson's ($JNJ) Ortho Clinical Diagnostics business.

Fellow lab equipment company and aggressive acquirer Thermo Fisher Scientific ($TMO) was also interested in Pall, but came out on the losing end of the bidding war with Danaher.

Danaher buys water-systems maker for $13.8B, will split into two companies