Fortive shareholders will receive one Ralliant share for every three shares of Fortive, according to a statement.

Fortive expects "when-issued" trading of Ralliant common stock on the New York Stock Exchange under the ticker RAL WI, starting June 25. "Regular-way" trading of Ralliant shares is expected on June 30, under the symbol RAL.

The company also expanded its share buyback program by 15.63 million shares and declared a special purpose share repurchase program of up to $550 million of common shares from the proceeds of the $1.15 billion pre-separation cash dividend from Ralliant to Fortive.

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