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NEW YORK, Oct 9 (Reuters) U.S. industrial conglomerate Danaher Corp said it had agreed to pay about $520 million for Australian medical technology company Vision Systems Ltd., topping an earlier offer from U.S. diagnostic test maker Cytyc Corp.

The price includes transaction costs and is net of cash. On a per-share basis it is A$3.75 (US$2.79) a share, about 15 percent higher than Cytyc's already increased bid of A$3.25, and around 7 percent above Friday's closing price.

Danaher said last month that it was considering making an offer for Vision Systems, which was being pursued not only by Cytyc, but also by Ventana Medical Systems.

Danaher said that it and Ventana, whose own bid had been topped by Cytyc, had terminated discussions about making a joint bid for Vision Systems.

Vision Systems said in a statement that its board of directors had recommended shareholders accept Danaher's offer.

Danaher said it expected the deal to close during the fourth quarter.

REUTERS DKS RAI0630