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Spin-offs/Danaher Corporation → Veralto Corporation

Veralto CorporationVLTO

Spin-off from Danaher Corporation (DHR) · Sep 30, 2023 · NYSE

Announced
Sep 14, 2022
Form 10 filed
Aug 3, 2023
Record date
Sep 13, 2023
Distributed
Sep 30, 2023
Ratio
1 : 3
Debt loaded
$2.6B
Cash to parent
—
Latest filing
Aug 31, 2023

one share of Veralto for every three shares of Danaher

Documents

Form 10Information statementNew company filingsParent filings

Both companies today

The new company
Veralto CorporationVLTO
Market cap
$23.9B
Moat
Narrow
Quality
66
Price
$96.31
Fair value
$103.20
Price / FV
0.95×
The parent
Danaher CorporationDHR
Market cap
$148.0B
Moat
Wide
Quality
66
Price
$207.66
Fair value
$100.28
Price / FV
2.11×

Moat ratings, quality scores and fair value estimates are MoatScope research opinions and refresh with the data pipeline. Price / FV below 1.00× means the shares trade under our base-case estimate.

What is being separated

Veralto holds Danaher's former Environmental & Applied Solutions businesses: a group of operating companies whose technology monitors, enhances and protects water and other vital resources, spanning water quality and product quality and innovation.

Stated rationaleDanaher said the separation would let Veralto run with its own strategy and capital allocation while Danaher focuses on life sciences and diagnostics.

The four questions

The four-question write-up for Veralto Corporation is pending. Terms, documents and both companies’ numbers above are live; the checklist is added once the information statement has been worked through.

Not investment advice. Terms are as stated in the latest filing; spin-off shares are often thinly covered and volatile in their first months.