Danaher Corporation, Washington, D.C., has decided not to pursue the acquisition of Cooper Industries Inc. Danaher made its acquisition proposal public on August 1, 2001.
H. Lawrence Culp, Jr., president and CEO, stated, "We are disappointed to have arrived at this decision. We continue to believe that Cooper is an attractive company that would fit well with our existing businesses. However, in light of the current difficult business environment and sensitivities with respect to asbestos liability, we have concluded not to pursue the acquisition of Cooper at this time."
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