One Breakup Isn’t Enough for Conglomerates: Industrial Strength

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How many spinoffs does it take to unravel an industrial conglomerate? Usually more than one.

Fortive Corp. announced this week that it will break off its industrial test-and-measurement business into a separate publicly traded company. This follows the spinoff of Fortive itself from Danaher Corp. in 2016 and then Fortive’s subsequent spinoff of the Vontier Corp. transportation-and-mobility business in 2020. Danaher ultimately also spun off its Envista Holdings Corp. dental business and the Veralto Corp. water technologies division. Analysts including Deane Dray of RBC have questioned whether Veralto ...