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Danaher Announces Anticipated Fortive Separation Date

WASHINGTON, May 4, 2016 /PRNewswire/ -- Danaher Corporation DHR, +1.04% (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 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...