RTTNews | Sep 1, 2020 07:21AM EDT

07:21 Tuesday, September 1, 2020 (RTTNews.com) - Fortive Corp. (FTV) announced Tuesday its intention to separate Vontier Corp. through a spin-off of 80.1% of the outstanding shares of Vontier common stock to Fortive shareholders. When completed, the transaction will result in two independent, publicly traded companies - Fortive and Vontier.

Upon completion of the spin-off, Fortive will retain a 19.9% stake in Vontier, which is anticipated to be divested in a tax-efficient manner at a future date.

The transaction is anticipated to be tax efficient for Fortive shareholders, and completed in the fourth quarter of 2020, subject to obtaining final approval from the Fortive Board of Directors and market, regulatory and other customary conditions.

Fortive currently plans to divest its 19.9% retained shares in Vontier after the spin-off in a tax-efficient manner.

Read the original article on RTTNews ( https://www.rttnews.com/3125288/fortive-to-spin-off-80-1-of-vontier-corp-to-shareholders-quick-facts.aspx)

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