Fortive Corporation (NYSE: FTV) announced the completion of its separation from Danaher Corporation ("Danaher") and its launch as an independent, publicly traded corporation. Fortive's common stock will begin trading "regular way" on July 5, 2016 on the New York Stock Exchange under the symbol "FTV."

"Today marks a major milestone for Fortive as we bring to the market our strong heritage and experienced management team, leading market positions, and culture of continuous improvement that is deeply rooted in 24,000 associates around the world," said James A. Lico, President and Chief Executive Officer of Fortive. "As we move forward, we are fully focused on driving organic growth, core operating margin expansion, free cash generation exceeding net income, and rigorous capital discipline to investment decisions. This is our playbook for delivering superior value to our shareholders and customers for the long-term."

In connection with the separation, Danaher stockholders today received one share of Fortive common stock for every two shares of Danaher common stock held by such stockholder as of the close of business on June 15, 2016 (other than fractional shares, which will be aggregated and sold into the public market and the proceeds distributed to Danaher stockholders that otherwise would have received such fractional shares). 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 July 5, 2016. Approximately 345 million shares of Fortive common stock were distributed in the separation.