Monthly Archives: June 2018

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Novartis to Spin Off Eye Care Unit

Basel, June 29, 2018 – Novartis today announced its intention to spinoff Alcon, its eye care division, into a separately-traded standalone company. The planned spinoff would enable Novartis and Alcon to focus fully on their respective growth strategies. Completion of the transaction is subject to general market conditions, tax rulings and opinions, final Board of Directors…

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KAR Auction Files Form 10 for SpinCo

Dear KAR Stockholder: In February, KAR Auction Services, Inc. (“KAR”) announced plans to separate its salvage auction businesses. The separation will occur by means of a spin-off of a newly formed company named IAA Spinco Inc. (“IAA”), which will contain the pre-separation salvage auction businesses of KAR, currently operated by KAR’s subsidiaries, Insurance Auto Auctions,…

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Possible Rangers/Knicks Spin Off in the Works

It’s not the Yankees but still, interesting… Item 8.01 Other Events The Madison Square Garden Company (MSG) today announced that its board of directors has unanimously approved a plan to explore a possible spin-off that would separate its sports businesses from its entertainment businesses, creating two distinct publicly traded companies. If MSG proceeds with the spin-off transaction, it would be…

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GE to Spin Off Healthcare Unit

BOSTON – 26 June 2018: GE (NYSE: GE) today announced the results of its strategic review. GE will focus on Aviation, Power and Renewable Energy, creating a simpler, stronger, leading high-tech Industrial company. In addition to the pending combination of its Transportation business with Wabtec, GE plans to separate GE Healthcare into a standalone company, pursue…

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KEMC Supports Monarch on Resolute Energy

Purpose of Transaction. The Reporting Person acquired the Shares over which it exercises beneficial ownership on behalf of the Kimmeridge Funds in the belief that the Shares are undervalued and are an attractive investment. The Reporting Person is broadly supportive of the Issuer’s agreement with Monarch Alternative Capital LP regarding the review of potential strategic…

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Sailingstone Sends Letter to Turquoise Hill

June 12, 2018 Board of Directors c/o Company Secretary Turquoise Hill Resources Ltd. Suite 354 – 200 Granville Street Vancouver, British Columbia Canada, V6C 1S4 Dear Members of the Board: SailingStone Capital Partners has been engaged in dialogue with the independent directors of Turquoise Hill Resources Ltd. (“TRQ” or “Turquoise Hill”) for several years regarding…

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Denali Wants DFIN to Look for a Buyer

June 5, 2018 The Board of Directors Donnelley Financial Solutions, Inc. 35 West Wacker Drive Chicago, IL 60601 RE: Shareholder request for special committee to seek strategic alternatives for Donnelley Financial Solutions (the “Company”) Dear Members of the Board: We appreciate the recent investor day you held in New York. However, as evident in the continued decline…

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Son of a.. Almost Missed This Little Spin-off!

ALAMEDA, Calif.–(BUSINESS WIRE)–Jun. 8, 2018– BioTime, Inc. (NYSE American: BTX), a clinical-stage biotechnology company focused on degenerative diseases, announced that a draft registration statement on Form 10 was submitted to the U.S. Securities and Exchange Commission (the “SEC”). The draft registration statement relates to the proposed distribution of some or all of BioTime’s shares of AgeX Therapeutics, Inc. (“AgeX”) common stock,…

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DDR Files Form 10 for Retail Value Spinoff

Dear DDR Corp. Shareholder: We are pleased to inform you that the Board of Directors of DDR Corp., or DDR, has declared the distribution of all the common shares of Retail Value Inc., or RVI, a wholly-owned subsidiary of DDR, to DDR’s shareholders. RVI holds 49 assets, comprised of 37 continental U.S. assets and the…

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OA Spin-Off Calendar

# Announced Date Parent Ticker Parent Co Name Spin-Off Ticker Spin-Off Co Name Spin-Off Description Most Recent Filing Transaction Date 1 12/11/15 DWDP DowDuPont Inc. TBD Corteva Agriscience Agriculture NA By 6/1/19 1 12/11/15 DWDP DowDuPont Inc. TBD Dow Material Science NA By EOF Q1-19 1 12/11/15 DWDP DowDuPont Inc. TBD DuPont Specialty Products NA…

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A 13D Filing on a Near-Decimated Iconix

Shirebrook, England – June 1, 2018 – Sports Direct International plc (LON: SPD) (“Sports Direct”), one of the United Kingdom’s largest sports-goods retailers which holds 9% of Iconix Brand Group, Inc. (Nasdaq: ICON) (“Iconix” or the “Company”), today announced that it has nominated four highly-qualified individuals – Ron McPherson, Howard Moher, Mark Hunter and Daniel Dienst – for…