Danaher Updates Pall Savings and Spin Off
Danaher also announced at the meeting that it implemented additional cost savings in the fourth quarter in response to order weakness in November in certain industrial and developing markets. The company updated its adjusted EPS guidance.
Washington, DC 12/3/15; New York, NY 12/16/15—Danaher has announced that it plans to complete the spin off of its industrial businesses (see IBO 5/15/15) in the third quarter of 2016. The new company will be named Fortive and would have had $6.3 billion in revenues for 2014. At its annual investor and analyst meeting, Danaher increased the expected 2016 cost savings from its acquisition of Pall to $100 million, up from an initial estimate of $60 million. Pall is estimated to record revenues ending July 31, 2016, of around $2.8 billion.
