Danaher Corporation (NYSE:DHR) entered into a definitive agreement to acquire Masimo Corporation (NasdaqGS:MASI) from a group of shareholders for $9.5 billion on February 16, 2026. Danaher Corporation will acquire Masimo for $180 per share in cash. Masimo will become a standalone business unit and brand within Danaher?s Diagnostics segment and will operate autonomously while strengthening Danaher?s offering in acute care settings. In case of termination Masimo will pay $305 million. Danaher expects to fund the acquisition using cash on hand and proceeds from debt financing. If the Merger is completed, Masimo Corporation Common Stock will be delisted from Nasdaq.
The Transaction has been unanimously approved by both Masimo?s Board of Directors and Danaher?s Board of Directors and is subject to the satisfaction or waiver of certain closing conditions, including the receipt of required regulatory approvals, Masimo shareholders approval, and HSR act approval. The merger is expected to close in the second half of 2026. Masimo is expected to be accretive to adjusted diluted net earnings per common share by $0.15 to $0.20 in the first full year and approximately $0.70 in the fifth full year following completion of the acquisition. On May 1, 2026, the shareholders of Masimo Corporation approved the transaction.
Centerview Partners LLC acted as financial advisor and fairness opinion provider for Masimo Corporation and will be paid an aggregate fee of $60 million, $5 million of which was payable upon the rendering of Centerview?s opinion. Morgan Stanley & Co. LLC acted as financial advisor for Masimo Corporation. Melissa Sawyer, Lauren S. Boehmke, Dustin F. Guzior, Mehdi Ansari, Davis J. Wang, Renata B. Hesse, and Michael Rosenthal of Sullivan & Cromwell LLP acted as legal advisor for Masimo Corporation. Justin Wagstaff, Erica Hogan, Yehuda Rubel, Sasha Belinkie, Matthew Barnett and Richard Brand of White & Case LLP acted as legal advisor for Masimo Corporation. David M. Klein, Daniel E. Wolf, Adam Petravicius, Joanna Schlingbaum, Ellisen Shelton Turner, Jordan D. Peterson, Scott D. Price, David G. Branham, Maddison M. Riddick, Rachael L. Lichman, Joshua N. Korff, Diahndra Burman, Liam N. Murphy and Dean S. Shulman of Kirkland & Ellis LLP acted as legal advisor for Danaher Corporation. Longacre Square Partners acted as strategy and communications advisor to Masimo. Citigroup Inc. (NYSE:C) acted as financial advisor to Danaher Corporation. D. Bruce Hoffman, Blair West Matthews, Nicholas Levy and Romi Lepetska of Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor to Danaher Corporation. D.F. King & Co., Inc. acted as information agent and Broadridge Financial Solutions, Inc. acted as transfer agent for Masimo Corporation. McDermott Will & Schulte LLP acted as legal advisor for Politan. Benjamin Wiles of Greenberg Glusker Fields Claman & Machtinger LLP acted as legal advisor to Masimo Corporation. Ernst & Young LLP acted as accountant to Masimo Corporation.
Danaher Corporation (NYSE:DHR) completed the acquisition of Masimo Corporation (NasdaqGS:MASI) from a group of shareholders on June 10, 2026. On completion, Masimo Corporation shares were delisted from The Nasdaq Stock exchange.
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