Shareholders of Pall Corp., Long Island's fifth largest public company by revenue, will gather at the company's Port Washington headquarters Tuesday for a special meeting to authorize the $13.8 billion acquisition of the company by Danaher Corp.

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The deal, previously cleared by the Federal Trade Commission, won approval Monday from the European Union.

The acquisition announced in May by Pall, a maker of filtration products, and the Washington, D.C., conglomerate calls for shareholders to receive $127.20 per share and is expected to win approval. In addition to authorizing the acquisition, shareholders will cast nonbinding, advisory votes on the "golden parachute" compensation awarded to Pall executives.