Keithley Instruments Surging After Bid From Danaher (KEI)

Shares of Keithley Instruments, Inc. KEI are skyrocketing 73% after Danaher Corp. DHR announced it was acquiring the company for $21.60 a share in cash, or about $340 million for the whole company. "Along with Fluke and Tektronix, Keithley further solidifies Danaher's leading position in the test and measurement industry and presents an attractive value creation opportunity," said Jim Lico, executive vice president at Danaher. Shares of Keithley are up $9.02 to $21.41, making it the biggest gainer on the NYSE so far in Wednesday trading.