What is the difference between the tender offer and the follow on merger?
The acquisition is structured as a two-step transaction: a tender offer followed by a merger. If all of the closing conditions are satisfied, Danaher will purchase shares that have been validly tendered (and not withdrawn) by the expiration date (November 15, 2007, unless extended) for a cash payment of $38 per share. At some point following the purchase of shares in the tender offer, the Tektronix shares are expected to be delisted from the New York Stock Exchange. Danaher will, if all closing conditions to the merger are satisfied, effect a merger pursuant to which Tektronix will become a wholly owned subsidiary of Danaher and Tektronix shares will no longer be publicly traded. At the time of the merger, all Tektronix shareholders who did not tender shares in the tender offer will have their shares cashed out at $38 per share. If you do not tender your shares by the expiration date of the tender offer, your shares will be cashed out at the close of the merger. The timing of the merge
