Danaher(DHR) announced the date for the spinoff of Veralto(VLTO), its water quality and product identification business. Shareholders of Danaher as of September 13, 2023 will receive one share of Veralto for every three shares they own of Danaher on September 30, 2023. The transaction is expected to be tax free to shareholders. Danaher is no stranger to spinoff… Read More »
On the day it finalizes its spinoff of GE Transportation and merges it with Wabtec(WAB), GE(GE) announces an even larger divestiture, selling off its Biopharma unit to Danaher(DHR) for $21 billion in cash. Danaher will also take on $400 million in pension liabilities. GE CEO Larry Culp, former CEO of Danaher has taken another major step in shrinking… Read More »
July 4th week is a good time to catch up on some recent spinoff transactions. Last week Hertz (HTZ) completed the separation of its equipment rental business Herc Holdings (HRI). This one was a bit tricky mechanically and here is how the transaction went down: To effect the separation as part of a tax-free spinoff, Hertz Global Holdings stockholders as of… Read More »