Spin-Off

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SEACOR Spin-Off SMHI Began Trading Ex Today

FORT LAUDERDALE, FL — (Marketwired) — 05/10/17 — SEACOR Holdings Inc. (NYSE: CKH) (“SEACOR”) and SEACOR Marine Holdings Inc. (“SEACOR Marine”) today announced the timing and details regarding the spin-off of SEACOR Marine from SEACOR. The SEACOR board of directors has declared a pro rata dividend of the shares of SEACOR Marine common stock owned…

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Pentair to Split Into Two

LONDON, May 9, 2017 /PRNewswire/ — Pentair plc (NYSE: PNR) (“Pentair”) today announced that its Board of Directors has unanimously approved a plan to separate into two independent, publicly-traded companies. Both companies will benefit from market-leading positions in their respective industries, well-recognized brands, attractive margin profiles, strong free cash flow generation and compelling growth opportunities….

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Delphi Auto to Spin-Off Powertrain Unit

GILLINGHAM, England, May 3, 2017 /PRNewswire/ — Delphi Automotive PLC (NYSE: DLPH) today announced its intention to execute a tax-free spin-off of its Powertrain Systems segment into a new, independent publicly traded company (“Powertrain”). Immediately following the transaction, which is expected to be completed by March 2018, Delphi shareholders will own shares of both companies….

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AkzoNobel to Spin Off Spec Chem Unit

Creation of two focused, high-performing businesses with sustainable growth plans Separation of Specialty Chemicals within 12 months: the vast majority of net proceeds will be returned to shareholders Increased financial guidance* for 2020: Paints and Coatings: 15% ROS, ROI >25%; Specialty Chemicals: 16% ROS, ROI >20% €1.6 billion to be returned to shareholders for 2017…

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Why Ingevity Spin-Off Quickly 2-Bagged?

I recently updated the spreadsheet in which I track spinoff pipeline and post-spin stock performance.  Next I pulled up stock charts of spins from the past 12 months: I noticed a mix of losers, winners and even some flat-liners.   But one thing becomes crystal clear in looking at these charts: A very large majority…

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Interexon Spinoff Aquabounty Trading When-Issued

Intrexon Corporation, a leader in the engineering and industrialization of biology to improve the quality of life and health of the planet, today announced that, in connection with the previously announced special stock dividend of 1,776,557 shares of AquaBounty Technologies, Inc. (“AquaBounty”) common stock (after taking into account the 1:30 reverse stock split of AquaBounty…

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Overseas Shipholding Completes INSW Spin-Off

Overseas Shipholding Group, Inc. has completed the previously announced separation of OSG into two independent, publicly traded companies: Overseas Shipholding Group and International Seaways (NYSE:INSW). “Today marks the start of an exciting new chapter for OSG. We are now a more sharply focused company with a leading and diversified position in the Jones Act market,”…

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Huntsman Files Form 10 for Spin-Off

Form 10 Highlights On October 28, 2016, our subsidiary, temporarily named Huntsman Spin Corporation, filed an initial Form 10 registration statement with the U.S. Securities and Exchange Commission for the previously announced spin-off of our Pigments & Additives and Textile Effects businesses. Subject to market conditions, we plan to separate these businesses from Huntsman in…

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Vornado to Spin Off DC Unit

VORNADO REALTY TRUST has approved a tax-free spin-off of its Washington, DC business, currently known as Vornado/Charles E. Smith, and that it has entered into a definitive agreement to merge SpinCo with the operating company and certain select assets of The JBG Companies (“JBG”), a leading Washington, DC real estate company. The combined company will…

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Sealed Air to Spin Off Food Care Unit

Sealed Air Corporation plans to pursue the spin-off of its Diversey Care division and the food hygiene and cleaning business within its Food Care division, while the remaining Sealed Air business will continue as an independent public company. Under the plan, if effectuated, Sealed Air’s shareholders would own 100% of the common stock of New…

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HPE to Spin Off Non-Core Assets

Hewlett Packard Enterprise will spin-off and merge its non-core software assets with Micro Focus (LSE:MCRO) in a transaction valued at approximately $8.8 billion. The combination of these software assets — which includes HPE’s Application Delivery Management, Big Data, Enterprise Security, Information Management & Governance and IT Operations Management businesses — and Micro Focus’ highly complementary portfolio…

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Overseas Shipholding to Spin Off Int’l Unit

Overseas Shipholding Group, Inc. announced the filing of a registration statement on Form 10 with the U.S. Securities and Exchange Commission, in connection with the Company’s previously announced plan to separate its international and domestic businesses. OSG expects that any separation would be achieved through a spin-off of OSG International, Inc. in the second half…

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Neustar to Split into Two ($1.32B)

Neustar, Inc. (NSR) announced its intention to separate into two independent and publicly traded companies. One company will consist of the majority of Neustar’s Information Services, while the other will focus on providing Order Management & Numbering Services. Neustar intends to accomplish the separation through a tax-free spin-off. “Five years ago, Neustar embarked on a…

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Worst Ten 2015 Spin-offs

#10: Horizon Global Corporation; HZN; Market Cap $213M; Well recognized brands and decent free cash flow generator, likely take-out target. #9: SPX Flow Inc; FLOW; $1.23B #8: Northstar Realty Europe; NRE; $664M; Externally managed REIT and so rife with conflicts of interests.. #7: Talen energy Corporation; TLN; $1.77B; Electric power producer being acquired by Riverstone…

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Varian to Spin Off Components Unit ($8B)

Varian Medical Systems plans to spin off its Imaging Components business as a new, stand-alone public company via a tax-free distribution to Varian stockholders in a transaction anticipated to be completed by the end of calendar year 2016. “The spin-off will create two strong, independent companies,” said Dow Wilson, CEO of Varian Medical Systems.  “It…

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Honeywell to Spin Off Nylon Unit ($87B)

Honeywell announced today its intention to spin off its Resins and Chemicals business into a standalone, publicly-traded company named AdvanSix Inc. Honeywell will file a Form 10 relating to the transaction with the Securities and Exchange Commission shortly. Completion of the transaction is expected to occur by early 2017 and is subject to certain customary conditions,…

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HCP to Spin Off Skilled Nursing Unit ($16.9B)

Link to Investor Presentation: http://ir.hcpi.com/download/Proposed+Spin-Off+Presentation.pdf HCP announced that the Company’s Board of Directors has unanimously approved a plan to spin off its HCR ManorCare (“HCRMC”) portfolio of skilled nursing (“SNF”) and assisted living assets, as well as other skilled nursing assets, into an independent, publicly-traded REIT (“SpinCo”). The spin-off transaction will enable HCP to improve its…

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Biogen to Spin Off Hemophilia Unit ($60B)

Biogen Inc. intends to spin off its hemophilia business as an independent, publicly traded company. The strategic goal of this transaction is to create two focused companies dedicated to driving current and future value in their respective therapeutic areas of expertise. “We expect that the new company will be a leader in discovering, developing, and commercializing…

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