Spin-Off

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Henry Schein to Spin-Merge Animal Health

MELVILLE, N.Y. and PORTLAND, Maine, April 23, 2018 /PRNewswire/ — Henry Schein, Inc. (Nasdaq: HSIC) and Vets First Choice announced plans today for Henry Schein to spin off its Animal Healthbusiness and merge it with Vets First Choice, creating an innovative approach to advancing the delivery of animal health care designed to provide unique benefits to veterinarians, manufacturers, pet owners, and their…

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Genuine Parts to Spin Off Unit in Merger

Essendant And Genuine Parts Company’s S.P. Richards Business To Combine To Form Stronger, More Competitive National Business Products Distributor Creates Combined Company with Enhanced Ability to Serve Customers Through Improved Scale and Expanded Service Capabilities Expected to Deliver Approximately $75 Million in Annual Run-Rate Synergies and Establish Enhanced Financial Profile to Drive More Profitable Growth…

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Tenneco to Split into Two Cos

Aftermarket & Ride Performance Company; Powertrain Technology Company Transformational acquisition accelerates long-term value creation by creating two focused, purpose built industry leaders in their respective markets with greater scale, and strategic and financial flexibility. Brings together complementary businesses – the aftermarket and ride performance company will include Tenneco Ride Performance and Federal-Mogul Motorparts, and the…

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FCA to Spin Off Magneti Marelli

FCA Announces Plans to Separate Magneti Marelli The Board of Directors of Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU /MTA: FCA) announced today that it has authorized FCA management to develop and implement a plan to separate the Magneti Marelli business from FCA and to distribute shares of a new holding company for Magneti Marelli…

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Pentair Spinoff nVent to Trade May 1

LONDON, United Kingdom – April 3, 2018 – Pentair plc (NYSE: PNR) (“Pentair”) today announced its board of directors has approved the previously announced spin-off of its Electrical business.  The transaction will result in two independent, publicly traded companies: Pentair plc and nVent Electric plc (“nVent”).  nVent ordinary shares are expected to begin trading on the…

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IDT Spinoff Rafael To Commence Trading Today

Newark, NJ – March 27, 2018: Rafael Holdings, Inc., (NYSE American: RFL) and IDT Corporation (NYSE: IDT) today announced the successful completion of the spin-off of Rafael Holdings from IDT following the distribution yesterday of RFL common stock to IDT stockholders. Rafael Class B Common Stock begins the ‘regular way’ trading today on the NYSE…

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Dover Files Form 10 for Apergy Spinoff

DOWNERS GROVE, Ill., March 26, 2018 – Dover (NYSE: DOV) announced today that Apergy Corporation (“Apergy”) will host its first Investor Day on Tuesday, April 3, 2018, in New York City. Apergy has also filed its Form 10 registration statement with the U.S. Securities and Exchange Commission (“SEC”) in connection with the previously announced spin-off from…

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Helios Announces Spin Off of Zone

NEW YORK–(BUSINESS WIRE)–Helios and Matheson Analytics Inc. (Nasdaq: HMNY), (“HMNY”), a provider of information technology services and solutions and owner of a controlling interest in MoviePass, Inc.. (“MoviePass”) today announced that its board of directors has approved a plan to spin-off its wholly-owned subsidiary, Zone Technologies Inc. (“Zone”). Following the spin-off, Zone would become an independent…

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Why CCR 14% Dividend is Solid

  Setting aside the fact that its ticker symbol reminds me of one of my favorite rock bands.. Since the CNX/CEIX spin off, I have taken a close look at CEIX and have found that its MLP, CCR, is very attractively priced both on an absolute basis as well as relative to its peer group. …

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Fiat Chrysler Looking into Spin Off

The FCA Board to review potential separation of Magneti Marelli in the second quarter of 2018 Fiat Chrysler Automobiles (“FCA”) (NYSE: FCAU MTA: FCA) announced today that the Company is continuing its review of the potential separation of FCA’s subsidiary Magneti Marelli S.p.A. (“Magneti Marelli”) The Board of Directors of the Company plans to review…

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Brunswick to Spin Off Fitness Unit

METTAWA, Ill., March 1, 2018 – Brunswick Corporation (NYSE: BC) (“Brunswick” or the “Company”) today announced that its Board of Directors has authorized proceeding with a spin-off of its Fitness business.  Following the proposed transaction, the Fitness business will be an independent, standalone, publicly traded company, “FitnessCo”. “Our Board of Directors and management regularly review our…

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Cogint Announces Record Date for Spin-off

BOCA RATON, Fla.–(BUSINESS WIRE)–Mar. 7, 2018– Cogint, Inc. (NASDAQ: COGT) announced today that its Board of Directors has established March 19, 2018 as the record date (the “Record Date”) and March 26, 2018 as the distribution date (“Distribution Date”) for its previously announced spin-off of its data and analytics subsidiary, Red Violet, Inc. (“Red Violet”). The spin-off will occur by way of a…

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EQT to Spin Off Midstream Biz

PITTSBURGH–(BUSINESS WIRE)–EQT Corporation (NYSE: EQT) today announced that its Board of Directors has unanimously approved a plan to separate its upstream and midstream businesses, creating a standalone publicly traded corporation (NewCo) that will focus on midstream operations. The separation is intended to qualify as tax-free to EQT shareholders for U.S. federal income tax purposes; and…

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Workhorse Group to Spin Off SureFly

Workhorse to Receive Approximately $5 Million in Proceeds Through Note Purchase Agreement · New Company SureFly, Inc. Commands $33 Million Pre-Money Valuation · Spin Off Ensures Focus and Increases Financial Outlook for Workhorse’s Core Business and Creates Additional Long-Term Opportunities for SureFly CINCINNATI, December 27, 2017 – Workhorse Group Inc. (NASDAQ: WKHS), an American technology…

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CNX Completes CEIX Spin Off

CANONSBURG, Pa., Nov. 29, 2017 /PRNewswire/ — CONSOL Energy Inc. (NYSE: CEIX) (CONSOL), formerly named CONSOL Mining Corporation, today announced that it has completed the separation from its former parent company CNX Resources Corporation (NYSE: CNX), formerly named CONSOL Energy Inc., and has begun operating as an independent, publicly-traded company listed on the New York Stock Exchange…

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Cars.com: Great Cash Flow & Potential for Growth

TEGNA Inc. | Cars.com TEGNA (TGNA-WI; Price $15.38; Market cap $3.3B)  | Cars.com (CARS-WI; Price $25.59; Market cap $1.8B; EV $2.5B)   ($000 except per share data) 2014 2015 2016   Capitalization (pro forma) Revenue 514,854 596,510 633,106 Cash $8,896 Growth % – 15.9% 6.1% Total Debt 650,000 EBITDA 118,784 238,551 259,756 Shares Out 71,598…

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IDT to Spin Off Biotech Unit

NEWARK, N.J., Nov. 1, 2017 /PRNewswire/ — IDT Corporation (NYSE: IDT) today announced that its wholly-owned subsidiary, Rafael Holdings, Inc. (Rafael), has filed a Form 10 Registration Statement with the Securities and Exchange Commission related to the planned spin-off of Rafael to IDT stockholders. Rafael will own certain commercial real estate assets and interests in clinical and early…

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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…