Danaher (NYSE:DHR) today announced the completion of split-off exchange offer of all the shares of the common stock belonging to its dental business spinout Envista (NYSE:NVST).
The Envista common stock held by Danaher is slated to be exchanged for shares of Danaher’s common stock. Danaher accepted an aggregate of more than 22.9 million shares of Danaher common stock from its stockholders in exchange for nearly 127.9 million shares of Envista common stock owned by Danaher.
As a result of the split-off exchange, which was offered in November, Danaher no longer owns any voting or economic interest in Envista common stock, according to a news release.