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Fly News Breaks for May 14, 2015
PLL, DHR
May 14, 2015 | 07:23 EDT
A "good deal, not great" is how Jefferies sums up Danaher's (DHR) acquisition of Pall Corp. (PLL). The implied valuation, earnings accretion and return on invested capital are less compelling than most investors had hoped, the firm believes. However, it views Danaher as a "good story to own" into the break-up as its sum-of-the-parts analysis indicates shares are worth $100. The stock closed yesterday up $1.35 to $87.35. Jefferies keeps a Buy rating on the name.