Danaher Corporation (NYSE: DHR) (the "Company") today announced that it
expects to complete the spin-off of Fortive Corporation on July 2, 2016.
Upon completion of the spin-off, Danaher common stockholders will
receive a stock dividend of one share of Fortive common stock for every
two shares of Danaher common stock they hold as of the spin-off record
date, which is expected to be June 15, 2016. Prior to consummation of
the spin-off, Danaher will mail to Danaher common stockholders as of the
record date an Information Statement containing information about
Fortive and the spin-off.
Fortive will be comprised of two segments, Professional Instrumentation
and Industrial Technologies, and will include market leading brands such
as Fluke, Qualitrol, Tektronix, Gilbarco Veeder-Root and Matco Tools.
Fortive will be headquartered in Everett, Washington, and employ more
than 20,000 associates worldwide. Fortive's revenues for the year ended
December 31, 2015 were $6.2 billion. Fortive will have market leading
positions in such areas as professional instrumentation, automation,
sensing and transportation technologies. The company's website is www.fortive.com.
Fortive's ordinary shares will be listed on the New York Stock Exchange
under the symbol "FTV."
The completion of the spin-off remains subject to final approval by
Danaher's Board of Directors and other customary conditions.
ABOUT DANAHER
Danaher is a global science and technology innovator committed to
helping its customers solve complex challenges and improving quality of
life around the world. Its family of world class brands have
unparalleled leadership positions in some of the most demanding and
attractive industries, including health care, environmental and
industrial. The Company's globally diverse team of 81,000 associates is
united by a common culture and operating system, the Danaher Business
System. In 2015, Danaher generated $20.6 billion in revenue and its
market capitalization exceeded $60 billion. For more information please
visit: www.danaher.com.
Statements in this release that are not strictly historical, including
the statements regarding the Company's anticipated spin-off of Fortive
Corporation, the composition of Fortive's businesses, Fortive's strategy
and prospects, the anticipated timing of the separation, record date and
distribution ratio and any other statements regarding events or
developments that we believe or anticipate will or may occur in the
future are "forward-looking" statements within the meaning of the
federal securities laws. There are a number of important factors that
could cause actual results, developments and business decisions to
differ materially from those suggested or indicated by such
forward-looking statements and you should not place undue reliance on
any such forward-looking statements. These factors include, among other
things, deterioration of or instability in the economy, the markets we
serve and the financial markets, the impact of our restructuring
activities on our ability to grow, contractions or growth rates and
cyclicality of markets we serve, competition, the potential for improper
conduct by our employees, agents or business partners, our ability to
successfully identify, consummate and integrate appropriate acquisitions
and successfully complete divestitures and other dispositions,
contingent liabilities relating to acquisitions and divestitures, our
ability to successfully consummate the separation of Danaher into two
public companies and realize the anticipated benefits of that
transaction, our compliance with applicable laws and regulations
(including regulations relating to medical devices and the healthcare
industry) and changes in applicable laws and regulations, our ability to
effectively address cost reductions and other changes in the healthcare
industry, risks relating to potential impairment of goodwill and other
intangible assets, currency exchange rates, tax audits and changes in
our tax rate and income tax liabilities, litigation and other contingent
liabilities including intellectual property and environmental, health
and safety matters, risks relating to product, service or software
defects, product liability and recalls, risks relating to product
manufacturing, the impact of our debt obligations on our operations and
liquidity, our relationships with and the performance of our channel
partners, commodity costs and surcharges, our ability to adjust
purchases and manufacturing capacity to reflect market conditions,
reliance on sole sources of supply, labor matters, international
economic, political, legal, compliance and business factors, disruptions
relating to man-made and natural disasters, security breaches or other
disruptions of our information technology systems and pension plan
costs. Additional information regarding the factors that may cause
actual results to differ materially from these forward-looking
statements is available in our SEC filings, including our 2015 Annual
Report on Form 10-K and Quarterly Report on Form 10-Q for the first
quarter of 2016. These forward-looking statements speak only as of the
date of this release and the Company does not assume any obligation to
update or revise any forward-looking statement, whether as a result of
new information, future events and developments or otherwise.
Danaher Corporation
Matthew E. Gugino, Vice President, Investor Relations
Telephone: (202) 828-0850, Fax: (202) 828-0860