Fortive Plans To Separate Into Two Companies

(RTTNews) - Fortive Corp. (FTV) said that it plans to separate the company into two independent, publicly traded companies.

The transaction will create: an industrial technology company, which will retain the Fortive name; and a global industrial company focused on transportation and mobility, with a portfolio of leading retail and commercial fueling, fleet management, and professional tools brands across its transportation technologies.

The transaction is expected to be completed in the second half of 2020.

Following the completion of the transaction, James Lico and Charles McLaughlin will continue to serve as President and Chief Executive Officer and Senior Vice President and Chief Financial Officer of Fortive, respectively.

In Wednesday pre-market trade, FTV is currently trading at $71.22, up $2.21 or 3.20 percent.