Pall Corp. Signs Agreement to Acquire ATMI's LifeSciences Business
PORT WASHINGTON, N.Y., December 23, 2013 - Pall Corporation (NYSE:PLL), a global leader in filtration, separation and purification, today announced it has entered into a definitive agreement with ATMI, Inc. (NASDAQ-GS:ATMI) to acquire the ATMI LifeSciences business for $185 million. ATMI LifeSciences is a technology leader in the field of single-use bioprocess systems and consumables for the pharmaceutical and biopharmaceutical industries.
The transaction, which is expected to close in Pall's fiscal third quarter, is subject to certain closing conditions, regulatory approvals and labor-related notifications.
"This acquisition immediately strengthens our offering and broadens our already extensive portfolio of advanced solutions for biopharmaceutical customers," said Larry Kingsley, Pall Chairman and CEO.
Doug Neugold, ATMI's Chief Executive Officer, said, "We are very happy to have Pall as the new owner of this business, and believe the fit and their capabilities will accelerate its growth and provide great support to our customers."
For the balance of fiscal 2014, Pall expects the acquisition to add $20 – $30 million in revenue, be $0.05 – $0.08 dilutive to EPS on a GAAP basis and almost breakeven on a cash EPS basis. Pall reaffirms its total overall fiscal 2014 guidance for pro forma EPS to be $3.30 - $3.50.
About Pall Corporation
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. Follow us on Twitter @PallCorporation or visit www.pall.com.
ATMI, Inc. is a global provider of specialty semiconductor materials, and safe, high-purity materials handling and delivery solutions designed to increase process efficiencies for the microelectronics, life sciences, and other industries. For more information, please visit http://www.atmi.com.
About ATMI LifeSciences
ATMI LifeSciences is an acknowledged technology leader in the field of single-use bioprocess systems and consumables for the pharmaceutical and biopharmaceutical industries. Its innovative, market-leading portfolio of custom-engineered, flexible packaging solutions, single-use storage systems, mixers and bioreactors is driving bioprocess efficiency and delivering value for biopharmaceutical companies around the world. For more information, please visit http://www.atmi-lifesciences.com.
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