Washington, D.C.-based Danaher Corporation (NYSE:DHR) wants to sell its Kollmorgen Electro-Optical subsidiary, and has entered a definitive agreement to do so.
The purchaser of Kollmorgen Electro-Optical is intended to be L-3 Communications (NYSE: LLL). The defense contractor will pay $210 million in cash for Kollmorgen Electro-Optical which accrued revenues of approximately $169 million in 2010.
Danaher recently divested another business unit Accu-Sort Systems Inc. Both companies will be treated as discontinued operations in Danaher's fourth quarter 2011 report and are expected to add $0.01 cents to diluted earnings per share for the fourth quarter 2011 and $0.04 cents in the company's 2011 annual report.
Danaher closed Tuesday at $45.36 per share on the New York Stock Exchange, the stock was down 0.70 percent and had a trading range of $45.06 to $46.38 for the day.