TS03 Inc Trust Units TSTIF

RE:ASP and Fortive

[SunnyShadow]

There was also a reference to ASP in the Q3 Earnings CC on October 25, 2018 ( https://www.fool.com/earnings/call-transcripts/2018/10/26/fortive-corporation-ftv-q3-2018-earnings-conferenc.aspx ).  The CEO stated that:

"During the quarter, we also continued to make progress toward the closing of the previously announced acquisition of Advanced Sterilization Products. Based on close collaboration with our partners at Johnson & Johnson and our continued application of FBS, we successfully completed the requisite European Works Council consultations and cleared key regulatory hurdles, paving the way for the formal acceptance of our binding offer on September 20. We continue to expect to close the transaction in early 2019."

Another reference later about ASP and deleveraging:

"Assuming a stable macro environment., our remaining preliminary modeling assumptions include approximately 50 basis points of core operating margin expansion, free cash flow conversion ratio of greater than 115% and an effective tax rate in the high teens. We anticipate deleveraging quickly after the closing of ASP, enabling us to maintain our investment grade rating. And lastly, we plan to offset and at stranded costs of $0.01 to $0.02 of earnings per share with the savings generated by our 2018 restructuring efforts."