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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 10)*
Danaher Corporation
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
23585110
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(CUSIP Number)
Michael G. Ryan
1250 24th Street, N.W., Suite 800
Washington, DC 20037
(202) 828-0060
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
October 25, 1996
------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
Check the following box if a fee is being paid with the statement [_]. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
SCHEDULE 13D
- ------------------------------------- -------------------------------------
CUSIP No. 23585110 Page 2 of 9 Pages
-----------------------
- ------------------------------------- -------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Equity Group Holdings LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO, PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
12,032,444
-------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES None
BENEFICIALLY
OWNED BY -------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 12,032,444
PERSON
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12,032,444
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21%
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14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ------------------------------------- -------------------------------------
CUSIP No. 23585110 Page 3 of 9 Pages
-----------------------
- ------------------------------------- -------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Equity Group Holdings II LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO, PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
8,776,820
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY None
OWNED BY
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 8,776,820
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,776,820
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15%
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14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
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CUSIP No. 23585110 Page 4 of 9 Pages
-----------------------
- ------------------------------------- -------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven M. Rales
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO, PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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7 SOLE VOTING POWER
1,207,571 1/
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 20,809,264
OWNED BY
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 1,207,571 1/
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
20,809,264
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,016,835
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38%
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14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. 1/ The
amount of securities over which Mr. Rales exercises sole dispositive power
includes 1,055,511 shares pledged as collateral to secure a loan of shares by
Capital Yield Corporation.
<PAGE>
SCHEDULE 13D
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CUSIP No. 23585110 Page 5 of 9 Pages
-----------------------
- ------------------------------------- -------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mitchell P. Rales
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
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3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO, PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,431,443 1/
NUMBER OF -------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 20,809,264
OWNED BY
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 1,431,443 1/
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
20,809,264
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,240,707
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
1/ The amount of securities over which Mr. Rales exercises sole dispositive
power includes 1,055,511 shares pledged as collateral to secure a loan of shares
by Capital Yield Corporation.
<PAGE>
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CUSIP No. 23585110 Page 6 of 9 Pages
-----------------------
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This Amendment No. 11 to Schedule 13D amends and supplements, in
accordance with Rule 13d-2, the Schedule 13D and amendments thereto previously
filed by and on behalf of the Reporting Persons.
Item 1.
The class of equity securities to which this Statement relates is the
Common Stock, par value $.01 per share (the "Shares"), of Danaher Corporation, a
Delaware corporation (the "Issuer"). The principal executive offices of the
Issuer are located at 1250 24th Street, N.W., Suite 800, Washington, D.C. 20037.
Item. 2. Identity and Background.
This Statement is being filed by Equity Group Holdings LLC, a Delaware
limited liability company, Equity Group Holdings II LLC, a Delaware limited
liability company, Steven M. Rales and Mitchell P. Rales. Equity Group Holdings
LLC and Equity Group Holdings II LLC are engaged in the business of identifying
and holding investments in private and public companies. Steven M. Rales and
Mitchell P. Rales are the sole members of Equity Group Holdings LLC and Equity
Groups Holdings II LLC. Appendix I attached hereto sets forth with respect to
each member of Equity Group Holdings LLC and Equity Group Holdings II LLC, the
following information: (i) name; (ii) business address; (iii) present principal
occupation or employment and the name, principal business address of any
corporation or other organization in which such employment is conducted; and
(iv) citizenship. Appendix I also sets forth the business address of each
entity.
During the last five years, neither Equity Group Holdings LLC, Equity
Group Holdings II LLC, Mitchell P. Rales nor Steven M. Rales: (i) has been
convicted in a criminal proceeding (excluding traffic violations and similar
misdemeanors); or (ii) has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 is hereby amended and supplemented by adding thereto the
following:
On October 25, 1996, Mitchell P. Rales purchased 250,000 Shares at
$41.05 per share. The source of the consideration, $10,262,500, was personal
funds.
Item 4. Purpose of Transaction.
Steven Rales is the Chairman of the Board of the Issuer and Mitchell P.
Rales is the Chairman of the Executive Committee of the Issuer. The Shares owned
by each of the Reporting Persons have been acquired for investment purposes. The
Reporting Persons may make additional purchases of Shares either in the open
market or in private transactions depending on an evaluation of the Issuer's
business prospects and financial condition, the market for the Shares, other
opportunities available to each of the Reporting Persons, prospects for the
business of Equity Group Holdings LLC and
<PAGE>
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CUSIP No. 23585110 Page 7 of 9 Pages
-----------------------
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Equity Group Holdings II LLC, general economic conditions, money and stock
market conditions and other future developments. Except as set forth in this
Item 4 and elsewhere in this Statement, neither Equity Group Holdings LLC,
Equity Group Holdings II LLC, Steven M. Rales nor Mitchell P. Rales, has any
plans or proposal, which relate to or would result in any of the actions
specified in clauses (a) through (j) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer
Item 5 is hereby amended and supplemented as follows:
As of the date hereof, Equity Group Holdings LLC is the beneficial owner
of 12,032,444 Shares, representing approximately 21% of the 58,478,218 Shares
outstanding on October 17, 1996, as represented in the Issuer's Form 10-Q for
the quarter ended September 27, 1996.
As of the date hereof, Equity Group Holdings II LLC is the beneficial
owner of 8,776,820 Shares representing approximately 15% of the 58,478,218
Shares outstanding on October 17, 1996, as reported in the Issuer's Form 10-Q
for the quarter ended September 27, 1996.
As of the date hereof, Mitchell P. Rales is the beneficial owner of
22,240,707 Shares representing approximately 38% of the 58,478,218 Shares
outstanding on October 17, 1996 as reported in the Issuer's Form 10-Q for the
quarter ended September 27, 1996.
As of the date hereof, Steven M. Rales is the beneficial owner of
22,016,835 Shares representing approximately 38% of the 58,478,218 Shares
outstanding on October 17, 1996, as reported in the Issuer's Form 10-Q for the
quarter ended September 27, 1996.
The Shares beneficially owned by each of Steven M. Rales and Mitchell P.
Rales include (i) Shares beneficially owned by each of Equity Group Holdings LLC
and Equity Group Holdings II LLC and (ii) 1,055,511 Shares pledged as collateral
to secure a loan of Shares to each of them by Capital Yield Corporation.
<PAGE>
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CUSIP No. 23585110 Page 8 of 9 Pages
-----------------------
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SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.
Dated: November 1, 1996
---------------------------------
By: /s/ Steven M. Rales
----------------------------------
Steven M. Rales
By: /s/ Mitchell P. Rales
----------------------------------
Mitchell P. Rales
EQUITY GROUP HOLDINGS LLC
By: /s/ Michael G. Ryan
----------------------------------
Michael G. Ryan, Vice President
EQUITY GROUP HOLDINGS II LLC
By: /s/ Michael G. Ryan
----------------------------------
Michael G. Ryan, Vice President
<PAGE>
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CUSIP No. 23585110 Page 9 of 9 Pages
-----------------------
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APPENDIX I
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Equity Group Holdings LLC and Equity Group Holdings II LLC And Members
----------------------------------------------------------------------
The business address of Equity Group Holdings LLC and Equity Group
Holdings II LLC is 1250 24th Street, N.W., Washington, DC 20037. The names and
business addresses and present principal occupations of the sole members of
Equity Group Holdings LLC and Equity Group Holdings II LLC are set forth below.
Each individual listed is a citizen of the United States of America.
Name and Business Address Present Principal Occupation
------------------------- ----------------------------
Mr. Steven M. Rales Chairman of the Board of Danaher and
Chairman of the Board Member of Equity Group Holdings LLC
Danaher Corporation and Equity Group Holdings II LLC
1250 24th Street, N.W.
Washington, DC 20037
Mr. Mitchell P. Rales Chairman of the Executive Committee of
Chairman of the Executive Committee of Danaher and Member of Equity Group
Danaher Corporation Holdings LLC and Equity Group Holdings
1250 24th Street, N.W. II LLC
Washington, DC 20037
