Spin-Off

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Eaton to Spin Off Lighting Unit

DUBLIN, Ireland … Power management company Eaton (NYSE:ETN) today announced that it intends to pursue a tax-free spin-off of its Lighting business. The spin-off will create an independent, publicly traded company and is expected to be completed by the end of 2019. Goldman Sachs is serving as Eaton’s financial advisor on the transaction. The Lighting business…

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Gap to Spin Off Old Navy

SAN FRANCISCO – February 28, 2019 – Gap Inc. (NYSE: GPS) today announced plans to create two independent publicly traded companies: Old Navy, a category-leader in family apparel, and a yet-to-benamed company (“NewCo”), which will consist of the iconic Gap brand, Athleta, Banana Republic, Intermix and Hill City. Gap Inc. expects to effect the separation through…

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GE to Complete Transportation Spin on Feb 14

BOSTON, February 4, 2019  — GE (NYSE: GE) announced today that the Finance and Capital Allocation Committee of the GE Board of Directors has set a record date of February 14, 2019 for the spin-off of Transportation Systems Holdings Inc. (“SpinCo”), which will hold a portion of GE Transportation, a business unit of GE. Subject…

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Arconic to Potentially Spin Off Unit

NEW YORK–(BUSINESS WIRE)–Arconic Inc. (NYSE: ARNC) today reported fourth quarter 2018 and full year 2018 results. Arconic Chairman and Chief Executive Officer John Plant said, “Having been a Director of Arconic since 2016 and Chairman of the Board since 2017, I have a historical perspective of the Company and understand what we can achieve. I…

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FMC Corp to Distribute LTHM Shares

FMC Corporation (NYSE: FMC) announced today that its Board of Directors has approved the distribution of all of its remaining interest in Livent Corporation (“Livent”) (NYSE: LTHM) to FMC stockholders, payable on March 1, 2019, to shareholders of record as of 5:00 p.m. EST on February 25, 2019. Subject to the conditions described below, the FMC Board of Directors has authorized the…

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Henry Schein Completes Covetrus Spin-Off

MELVILLE, N.Y., Feb. 8, 2019 /PRNewswire/ — Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions for office-based dental and medical professionals, announced today the completion of the spin-off of its animal health business as the Company tightens its focus on driving growth in existing dental and medical markets while pursuing new investment opportunities. As…

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Ecolab to Spin Off Upstream Unit

ST. PAUL, Minn.–(BUSINESS WIRE)– Ecolab Inc. is announcing it plans to spin off its Upstream energy businesses as a stand-alone publicly-traded company. The Upstream Energy business currently operates within Ecolab’s Energy segment and consists of the Oil Field Chemicals production business and the WellChem drilling and well completion chemistry business. Ecolab plans to retain the…

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Ironwood Files Form 10 for Cyclerion

          , 2019 Dear Future Cyclerion Shareholder:         On behalf of the entire Cyclerion team, I am pleased to welcome you as a future shareholder of our new company.         Cyclerion will be a clinical-stage biopharmaceutical company focused on harnessing the full therapeutic potential of nitric oxide signaling through development of next-generation soluble guanylate cyclase, or sGC, stimulators….

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Henry Schein Revises Spin-Off Date

MELVILLE, N.Y. – January 16, 2019 – Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care products and services to office-based dental, animal health and medical practitioners, announced today that in connection with the previously announced spin-off of its Henry Schein Animal Health Business, its Board of Directors has now changed from February 4, 2019 to…

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NETGEAR Distributes Arlo Tech Shares

SAN JOSE, Calif., Dec. 31, 2018 (GLOBE NEWSWIRE) — NETGEAR, Inc. (NASDAQ: NTGR) today announced that it has completed its previously announced distribution of 62,500,000 shares of common stock of Arlo Technologies, Inc. (NYSE: ARLO) owned by NETGEAR, representing approximately 84.2% of the outstanding shares of Arlo common stock. After the completion of the distribution,…

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CPLP Files Form 10 for Athena SpinCo

Dear Capital Product Partners L.P. unitholders: We are pleased to inform you that, on            , 2019, the board of directors of Capital Product Partners L.P. (“CPLP”) declared the distribution of all 12,725,000 outstanding common shares of Athena SpinCo Inc. (“Athena SpinCo”), a wholly owned subsidiary of CPLP, to holders of CPLP common units and…

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Mallinckrodt to Spin Off Generic Biz

STAINES-UPON-THAMES, United Kingdom – Dec. 6, 2018—Mallinckrodt plc (NYSE: MNK), a leading global specialty pharmaceutical company, today announced plans to spin off a new company consisting of Mallinckrodt’s Specialty Generics/Active Pharmaceutical Ingredients (Specialty Generics) business and AMITIZA® (lubiprostone) to Mallinckrodt shareholders, subject to final Board approval. The separation is expected to create two independent, appropriately capitalized, publicly…

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UTX to Split Into Three Cos

FARMINGTON, Conn., Nov. 26, 2018 /PRNewswire/ — United Technologies Corp. (NYSE: UTX) today announced the completion of its acquisition of Rockwell Collins (NYSE: COL) and the company’s intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies: United Technologies, comprised of Collins Aerospace Systems…

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NUAN to Spin Off Auto Unit

BURLINGTON, Mass., Nov. 19, 2018 (GLOBE NEWSWIRE) — Nuance Communications, Inc. (NASDAQ: NUAN) today announced its intention to spin off its Automotive business segment into a new, independent, publicly traded company (“Nuance Auto”). The standalone entity will be a pure-play, next-generation automotive software company.  Immediately following the transaction, which is expected to be completed before…

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BGC Partners to Distribute Newmark Shares

NEW YORK, Nov. 13, 2018 /PRNewswire/ — BGC Partners, Inc. (NASDAQ: BGCP) (“BGC Partners”, “BGC”, or “the Company”), a leading global brokerage and financial technology company, today announced that its Board of Directors (the “Board”) has approved the distribution of all of the shares1 of Newmark Group, Inc. (NASDAQ: NMRK) (“Newmark”) held by the Company to stockholders…

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BC Files Form 10 for Life Fitness Spin-Off

We are sending you this Information Statement in connection with the spin-off by Brunswick Corporation, or “Brunswick”, of its wholly owned subsidiary, Life Fitness Holdings, Inc., or “Life Fitness” for purposes of this Information Statement. To effect the spin-off, Brunswick will distribute at least 80.1% of the shares of Life Fitness common stock on a…

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Zayo Plans to Separate into Two Cos

BOULDER, Colo. – November 7, 2018 – Zayo Group Holdings, Inc. (NYSE: ZAYO) today announced it plans to separate into two publicly traded companies: one to focus on providing core communications infrastructure and another to leverage infrastructure to provide solutions for a broad set of enterprise customers. Zayo Infrastructure, “InfraCo,” will be a unique, fiber-focused infrastructure…

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FMC Corp Sets Livent Spin Off Date

Third Quarter Highlights Consolidated revenue of $1.0 billion, up 60 percent versus Q3 ’17 Consolidated GAAP earnings of $0.54 per diluted share, up 32 percent versus Q3 ’17 Consolidated adjusted earnings per diluted share of $0.98, up 40 percent versus Q3 ’17 Agricultural Solutions segment revenue of $924 million, up 5 percent versus Q3 ’17, on a pro forma basis…

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Trinity Completes Arcosa Spin-Off

DALLAS–(BUSINESS WIRE)– Trinity Industries, Inc. (NYSE: TRN) (“Trinity”), announced today that it has completed the separation of its infrastructure-related business, Arcosa, Inc. (“Arcosa”), a growth-oriented manufacturer of infrastructure-related products and services with leading positions in construction, energy, and transportation markets. The spin-off was effected through a pro rata dividend to Trinity’s stockholders of all outstanding…

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Getting Hammered: HON Completes REZI Spin-off

MORRIS PLAINS, N.J., Oct. 29, 2018 /PRNewswire/ — Honeywell (NYSE: HON) announced today that it has completed its spin-off of Resideo Technologies, Inc., Honeywell’s former Homes and ADI Global Distribution business. Resideo shares will begin “regular way” trading on the New York Stock Exchange today under the symbol “REZI.” “The spin-off of Resideo marks the completion of the…