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DXC to Spinoff USPS to Shareholders

New company will be a mission-enabled, end-to-end IT services provider to the U.S. government, providing clients with highly differentiated offerings and capabilitiesDXC will remain a global leader in commercial and non-U.S. public sector IT services, leading client digital transformation through strong focus on innovation and delivery excellenceTysons, VA, Oct. 11, 2017 – DXC Technology (NYSE: DXC), the…

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Honeywell Announces Two Spinoffs

Plans to Spin Homes and the ADI Global Distribution Business, a ~$4.5B Business, and Transportation Systems, a ~$3.0B Business, into Two Independent, Publicly-Traded Companies by End of 2018 Prospective Honeywell Portfolio Consists of High-Growth Businesses with Strong Operational and Technology Synergies, Focused on Six Key End Markets Independent Investment Decisions Will Position Spins to Thrive…

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Much Needed Fire Under Babcock & Wilcox

Item 3. Source and Amount of Funds or Other Consideration. The 2,121,802 Shares purchased by Series One were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A,…

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Caesars Ent. Emerges from Chapter 11

LAS VEGAS, Oct. 6, 2017 /PRNewswire/ — Caesars Entertainment Corporation (“Caesars Entertainment” or the “Company”) (NASDAQ: CZR) today announced the completion of its previously announced merger with Caesars Acquisition Company (“CAC”) and the conclusion of the restructuring of Caesars Entertainment Operating Company, Inc. (“CEOC”) and its debtor subsidiaries. As a result of these transactions, the newly restructured Caesars Entertainment is positioned to further…

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Dover Corp May Spinoff/Sell Energy Bizs

DOWNERS GROVE, Ill., September 12, 2017 – Dover (NYSE: DOV) today announced that it is exploring strategic alternatives for the separation of its upstream energy businesses within its Energy segment, collectively, the “Wellsite” business. The Company is considering options which may include a tax-free spin-off, sale or other strategic combination. Dover’s Wellsite business, including Dover Artificial…

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Seadrill Files Chapter 11

Hamilton, Bermuda, September 12, 2017 – Seadrill Limited (“Seadrill” or the “Company”) has entered into a restructuring agreement with more than 97 percent of its secured bank lenders, approximately 40 percent of its bondholders and a consortium of investors led by its largest shareholder, Hemen Holding Ltd. The agreement delivers $1.06 billion of new capital comprised…

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AM Castle Emerges from Chapter 11

OAK BROOK, IL, August 31, 2017 – A.M. Castle & Co. (OTC Pink: CASLQ) (the “Company” or “Castle”), a global distributor of specialty metal and supply chain solutions, today announced that it has emerged from its voluntary chapter 11 proceedings before the United States Bankruptcy Court for the District of Delaware commenced on June 18,…

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DowDuPont to Spin Into 3 in 18 Months

MIDLAND, Mich., and WILMINGTON, Del. – September 01, 2017 –DowDuPont™ (NYSE:DWDP) today announced the successful completion of the merger of equals between The Dow Chemical Company (“Dow”) and E.I. du Pont de Nemours & Company (“DuPont”), effective Aug. 31, 2017. The combined entity is operating as a holding company under the name “DowDuPont™” with three…

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CONSOL Updates on Spin-Off Timing

PITTSBURGH, Sept. 5, 2017 /PRNewswire/ — CONSOL Energy Inc. (NYSE: CNX) announced today several updates in connection with its participation in the Barclays CEO Energy-Power Conference in New York. First, in order to provide better clarity and visibility to the market with respect to the company achieving its strategic goal of separating its coal and E&P businesses, the…

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NACCO Industries Files for Spin-Off

CLEVELAND, Aug. 21, 2017 /PRNewswire/ — NACCO Industries, Inc. (NYSE: NC) announced today that its wholly owned subsidiary, Hamilton Beach Brands Holding Company, has filed a registration statement with the U.S. Securities and Exchange Commission relating to a proposed spin-off by NACCO of its housewares-related businesses to NACCO stockholders.  Hamilton Beach Brands Holding Company, as an independent public company, will own and operate…

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Crossroads Files Chapter 11

AUSTIN, Texas, Aug. 14, 2017 /PRNewswire/ — Crossroads Systems, Inc., (NASDAQ: CRDS) today announced that it has filed a case under Chapter 11 of the Bankruptcy Code and a prepackaged Chapter 11 plan of reorganization (“Plan”) that has been accepted by the holders of more than 2/3 of the Preferred Shares of CRDS.  In connection with the filing, the…

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Nuverra Emerges from Chapter 11

Nuverra Environmental Solutions, Inc. (“Nuverra” or the “Company”) announced today that, on August 7, 2017 (the “Effective Date”), the Company and its material subsidiaries emerged from Bankruptcy protection under chapter 11 of the United States Bankruptcy Code.  Pursuant to their Amended Joint Plans of Reorganization (collectively, the “Plan”), which were confirmed by the United States Bankruptcy Court…

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Spirit Realty to Spin Off REIT

DALLAS, Aug. 3, 2017 /PRNewswire/ — Spirit Realty Capital, Inc. (NYSE: SRC) (“Spirit” or the “Company”), a premier net lease real estate investment trust (REIT) that primarily invests in single-tenant, operationally essential real estate, today announced the planned spin-off of a separate publicly traded REIT (“SpinCo”). SPIN-OFF HIGHLIGHTS SpinCo Expected to Have $2.7 Billion in Gross Real…

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Vanguard Natural Emerges from Chapter 11

Houston – August 1, 2017 – (PR NEWSWIRE) – Vanguard Natural Resources, LLC announces that it successfully completed its financial restructuring and emerged from Chapter 11 as a new corporation under the name of Vanguard Natural Resources, Inc. (“Vanguard” or the “Company”). Through its financial restructuring and the sale of non-core assets while in Chapter 11,…

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Wyndham to Spin Off Time-Share Unit

PARSIPPANY, N.J., Aug. 2, 2017 /PRNewswire/ — Wyndham Worldwide (NYSE: WYN) today announced plans to spin off the company’s hotel business resulting in two separate, publicly traded companies.  Wyndham Hotel Group, with headquarters in Parsippany, NJ, will become a new, publicly traded pure-play hotel company with a portfolio of renowned brands.  Wyndham Vacation Ownership, with headquarters in Orlando, Florida, will be the…

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La Quinta Registers CorePoint Spin Off

La Quinta Holdings Inc. (the “Company”) LQ, -0.80% announced that a Form 10 Registration Statement was filed today with the U.S. Securities and Exchange Commission (“SEC”) with respect to the previously announced planned separation of its real estate business, which is to be named CorePoint Lodging Inc. (“CorePoint Lodging” or “CorePoint”) from its franchise and management businesses (“new…

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Redknee Gets Approval for Rights Offering

TORONTO, July 25, 2017 /CNW/ – Redknee Solutions Inc. (“Redknee” or the “Company”) (RKN.TO) announces that it has received shareholder approval for its previously announced rights offering (the “Rights Offering”). The net proceeds of the Rights Offering will be used to fund a restructuring of the business in furtherance of the previously announced strategic plan (the “Strategic Plan”)….

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ServiceMaster to Spin Off Warranty Unit

ServiceMaster Global Holdings, Inc. (“ServiceMaster” or the “Company”) (SERV), a leading provider of essential residential and commercial services, today announced its intention to separate its American Home Shield (AHS) business from its Terminix and Franchise Services Group (FSG) businesses, as well as the appointment of Nikhil Varty as Chief Executive Officer of the Company and…

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Tidewater Chapter 11 Plan Confirmed

NEW ORLEANS, July 13, 2017 /PRNewswire/ — Tidewater Inc. (NYSE: TDW) (“Tidewater” or the “Company”) today announced that the United States Bankruptcy Court for the District of Delaware(the “Court”) has confirmed the Second Amended Joint Prepackaged Chapter 11 Plan of Reorganization of Tidewater and its Affiliated Debtors, originally dated May 17, 2017 and amended on July 12, 2017 and July 13, 2017 (the “Plan”).  The Company…

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