Pall Corporation Surges On Potential Sale Deal

The shares of Pall Corporation (NYSE:PLL), the maker of water filtration and purification systems surged due to the report that it close to reaching a sale agreement.

The stock price of Pall Corporation were trading $118.03 per share, up by almost 19% at the time of this writing, around 3:24 in the afternoon in New York.

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Pall Corporation potential buyers

According to the Wall Street Journal, the potential buyers of Pall Corporation included Danaher Corporation and Thermo Fisher Scientific.

People familiar with the situation said the companies are expected to submit their final bids for Pall Corporation this week. The water filtration and purification systems maker has a market valuation of approximately $10.6 billion. The company could fetch around $13 billion or higher, according to WSJ.

Based on its history, Pall Corporation’s roots can be traced in 1946 when Dr. David Pall established Micro Metallic Corp. The company changed its name in 1957, and became a supplier of hydraulic filters for the planes of Boeing.

Currently, Pall Corporation is selling its filtration and purification products to different customers including airplane manufacturers, biopharmaceuticals companies, brewers, and municipal water suppliers.

Danaher bought Beckman Coulter for $5.9 billion in 2011. If it will acquire Pall Corporation, it would be its largest acquisition to date, according to S&P Capital IQ. Danaher has a market value of around $59 billion. Its stock price rose almost 3% to $85.99 per share at the time of this writing.

Pall Corporation financial and stock performance

Based on its regulatory filing, Pall Corporation achieved a 5% increase in revenue to $2.8 billion last year.

Last February, the company reported that its earnings increased 4% to $0.78 per diluted share for the second quarter fiscal 2015. Its sales were $673.8 million.

Pall Corporation Chairman and CEO Larry Kingsley stated that the company’s second quarter performance was solid although its consolidated results were significantly impacted by foreign currency translation particularly due to the strong dollar.

Over the past 52 weeks, the shares of Pall Corporation traded between $476.59 and $120.35 per share. The company gained more than 38% of stock value over the past year or 17% year-to-date.