NEW YORK (Standard&Poor's CreditWire) Aug. 1, 2001--Standard&Poor's today placed its ratings on Danaher Corp. on CreditWatch with negative implications (see list below) At the same time, the ratings on Cooper Industries Inc. and a related entity were placed on CreditWatch with positive implications (see list). These actions follow Danaher's unsolicited offer to acquire Cooper Industries through a stock-and-cash transaction valued at $54 to $58 per Cooper share, or a total value of about $6.5 billion to $7.0 billion, including assumed debt. Cooper shareholders would receive consideration consisting of 75% Danaher stock and 25% cash. Pro forma for the deal, Danaher would double its size to more than $8 billion in revenues, while weakening its financial profile
