DANAHER MAKES TOP BID FOR VISION SYSTEMS

U.S. medical technology group Danaher has agreed with Australian firm Vision Systems that Danaher will initiate an offer worth $520 million to acquire Vision, Danaher said Oct. 8.

Danaher must still negotiate with competitors Ventana and Cytyc, both of which have acquired significant stakes in Vision. Danaher and Ventana have ended their discussions regarding a cooperative effort to purchase Vision, and Cytyc said it won't increase its $3.25-per-share offer.

Vision's board of directors unanimously recommended Vision's shareholders accept Danaher's offer unless a higher bid is made, Danaher said.