Fortive Corporation completed the separation of its precision technologies segment into an independent public company, Ralliant Corporation (NYSE: RAL), distributing one share of Ralliant for every three shares of Fortive held. Ralliant borrowed $1.15 billion to provide cash consideration to Fortive, which intends to use the proceeds for debt repayment and share repurchases. Additionally, Olumide Soroye has been appointed as Fortive's new President and CEO following the retirement of James A. Lico.
