Danaher to spin off environmental unit into separate public company
Danaher Corp. on Wednesday said it would spin off its Environmental Applied Solutions segment into a separate publicly-traded company. The spin-off, expected to be completed in the fourth quarter of 2023, would help the diagnostic-tools provider become "a more focused science and technology leader committed to innovation and making a profound impact on human health," Chief Executive Rainer M. Blair said in a statement. The new company would be made up of Danaher''s Water Quality and Product Identification segments, and would be called "EAS" until given a permanent new name, the company said. "We believe that EAS will be advantaged as a standalone company with greater opportunities to pursue high-impact organic and inorganic investments," Blair continued. Jennifer L. Honeycutt will become CEO of EAS when the transaction is completed. Shares rose 5% after hours. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Danaher to spin off environmental unit into separate public company
Danaher Corp. on Wednesday said it would spin off its Environmental Applied Solutions segment into a separate publicly-traded company. The spin-off, expected to be completed in the fourth quarter of 2023, would help the diagnostic-tools provider become "a more focused science and technology leader committed to innovation and making a profound impact on human health," Chief Executive Rainer M. Blair said in a statement. The new company would be made up of Danaher''s Water Quality and Product Identification segments, and would be called "EAS" until given a permanent new name, the company said. "We believe that EAS will be advantaged as a standalone company with greater opportunities to pursue high-impact organic and inorganic investments," Blair continued. Jennifer L. Honeycutt will become CEO of EAS when the transaction is completed. Shares rose 5% after hours. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.