Danaher Corporation Announces its Successful Bid for the Assets Of Gasboy International, Inc.
Danaher Corporation announced today that it was the successful bidder for the assets of Gasboy International, Inc. ("Gasboy"), a unit of Tokheim Corporation, in an auction conducted pursuant to a bidding procedures order issued by the United States Bankruptcy Court for the District of Delaware. The successful bid was for approximately $38 million. The bid remains subject to approval by the United States Bankruptcy Court for the District of Delaware at a sale hearing scheduled to take place on February 25, 2003. The contemplated transaction remains subject to other customary conditions. Gasboy, with revenues of approximately $40 million, is a manufacturer and seller of commercial electronic and mechanical petroleum dispensing systems, fleet management systems and transfer pumps, primarily for non-retail petroleum applications.
Danaher Corporation is a leading manufacturer of Process / Environmental Controls and Tools and Components (http://www.danaher.com/).
Statements in this release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. These include economic and currency conditions, market demand, pricing, and competitive and technological factors, among others, as set forth in the company's SEC filings.
SOURCE: Danaher Corporation