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News May 12, 2015

Shearman & Sterling Advises Pall Corporation on $13.8 Billion Acquisition by Danaher Corporation

Shearman & Sterling is advising Pall Corporation, a global leader in filtration, separation and purification technologies, on its acquisition by Danaher Corporation for $127.20 per share in cash, or $13.8 billion including assumed debt and net of acquired cash. The transaction is subject to customary closing conditions, including approval by Pall shareholders and is expected to close in calendar 2015.

Pall Corporation (NYSE:PLL) is a filtration, separation and purification leader providing solutions to meet the critical fluid management needs of customers across the broad spectrum of life sciences and industry. Pall works with customers to advance health, safety and environmentally responsible technologies. The company’s engineered products enable process and product innovation and minimize emissions and waste. Pall Corporation is an S&P 500 company serving customers worldwide.

Danaher is a global science and technology innovator committed to helping its customers solve complex challenges and improving quality of life around the world. Its family of world-class brands has leadership positions in some of the most demanding and attractive industries, including health care, environmental and industrial. The Company's globally diverse team of 71,000 associates is united by a common culture and operating system, the Danaher Business System. In 2014, Danaher generated $19.9 billion in revenue and its market capitalization exceeded $60 billion.

The Shearman & Sterling team was led by New York M&A partners Robert Katz and Creighton Condon and New York M&A counsel Nathan Sawyer and included partners John Cannon (New York-Compensation, Governance & ERISA), Ethan Harris (Washington, DC-Tax), David Beveridge (New York-Capital Markets), Jessica Delbaum (New York-Antitrust), Richard Hsu (Menlo Park-Intellectual Property Transactions), and Gus Atiyah (New York-Finance); counsel Richard Alsop (New York-Capital Markets) and Jason Pratt (New York-Environmental); and associates Derrick Lott (New York-Mergers & Acquisitions), Robert Giannattasio (New York-Corporate), Heather Pals (New York-Corporate), Jennifer Stadler (New York-Compensation, Governance & ERISA), Jack Mellyn (Washington, DC-Antitrust) and Beverly Chang (Washington, DC-Finance).