Danaher Completes Fortive Spin-Off, Trading To Begin Today
Zacks Investment Research | Jul 05, 2016 08:53AM ET
Danaher Corp. (NYSE:DHR) wrapped up the spin-off of Fortive Corporation, completing the separation of its Test & Measurement segment, Industrial Technologies segment (excluding its Product Identification platform) and Retail/Commercial Petroleum platform from its other operations.
Danaher will retain its life sciences, dental, diagnostics, water quality and product identification segments.
Fortive will be listed on the New York Stock Exchange and will begin trading today under the ticker “FTV”. To be headquartered in Everett, WA, Fortive will classify its operations under two segments, Professional Instrumentation and Industrial Technologies.
In the split, Danaher shareholders received one share of the spun-off unit Fortive for every two shares of Danaher. About 345 million shares of Fortive common stock were distributed in the separation.
Some of Danaher’s leading brands, such as Fluke, Qualitrol, Tektronix, Gilbarco Veeder-Root, Kollmorgen and Matco Tools will be included in Fortive. Notably, Fortive has established a strong financial, legal and organizational structure, which indicates bright prospects ahead.
The split will enable both the companies to be more focused and nimble in their respective growth strategies, and will help them deliver on strategic priorities by pursuing high impact prospects.
Danaher has consistently followed an aggressive acquisition strategy, and continues to explore expansion opportunities in targeted regions. The year 2015 saw the company close acquisition of 14 businesses worth approximately $14.5 billion.
During the first quarter of 2016, Danaher closed six bolt-on acquisitions, including Hach's takeover of Lufft Mess, for over $100 million.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.