Danaher Corporation (NYSE: DHR) announced today that it has completed the separation of its Environmental & Applied Solutions segment, through the spin-off of Veralto Corporation. Veralto will begin “regular way” trading on the New York Stock Exchange on October 2, 2023, under the symbol “VLTO.”
“Today marks an exciting milestone for Danaher. The successful spin-off of Veralto as an independent company creates exceptional opportunities for both Danaher and Veralto to better serve their customers, deliver on their respective strategic priorities and create greater long-term shareholder value,” said Rainer M. Blair, Danaher President and Chief Executive Officer.
In connection with the separation, on September 30, 2023, Danaher stockholders received one share of common stock of Veralto for every three shares of Danaher common stock held at the close of business on September 13, 2023 (other than fractional shares, which will be aggregated and sold and the proceeds distributed to Danaher stockholders). Because the separation was completed on a Saturday and not a business day, the shares are expected to be credited to “street name” stockholders through the Depository Trust Corporation on October 2, 2023. Approximately 246 million shares of Veralto common stock were distributed in the distribution.
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 has leadership positions in the demanding and attractive health care end-markets. With more than 15 operating companies, Danaher’s globally diverse team of approximately 65,000 associates is united by a common culture and operating system, the Danaher Business System, and its Shared Purpose, Helping Realize Life’s Potential. For more information, please visit www.danaher.com.
