WASHINGTON, May 20, 2016 /PRNewswire/ -- Today, Danaher
Corporation (NYSE: DHR) ("Danaher") announced that the U.S.
Securities and Exchange Commission has declared effective the
Registration Statement on Form 10 of Fortive Corporation
("Fortive"). The Registration Statement on Form 10 includes
information regarding Fortive's business and the spin-off of
Fortive from Danaher, which is expected to be completed on
July 2, 2016. In addition, on May 12,
2016, the New York Stock Exchange authorized Fortive for
listing on the exchange with the ticker symbol "FTV."
As previously announced, it is expected that 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.
The completion of the spin-off remains subject to final approval
by Danaher's Board of Directors and other customary conditions.
Fortive's Registration Statement on Form 10, including amendments
thereto, can be found at www.sec.gov and on the "Investors" section
of www.fortive.com.
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.
ABOUT FORTIVE
Fortive will be a diversified industrial
growth company comprised of global businesses that are recognized
leaders in attractive markets. With 2015 revenues of $6.2 billion, Fortive's well-known brands hold
leading positions in field instrumentation, transportation,
sensing, product realization, automation and specialty, and
franchise distribution. Fortive will be headquartered in
Everett, Washington and employ a
team of more than 22,000 research and development, manufacturing,
sales, distribution, service and administrative employees in more
than 40 countries around the world. With a culture rooted in
continuous improvement, the core of our company's operating model
will be the Fortive Business System. For more information please
visit: www.fortive.com.
FORWARD-LOOKING STATEMENTS
Statements in this release
that are not strictly historical, including the statements
regarding Danaher's anticipated spin-off of Fortive Corporation and
the timing thereof, 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 Danaher 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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/fortive-form-10-registration-statement-declared-effective-300272663.html
SOURCE Danaher Corporation; Fortive Corporation