Spin-Off

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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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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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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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CONSOL Energy Files Form 10 for Coal Spin-off

PITTSBURGH, July 11, 2017 /PRNewswire/ — CONSOL Energy Inc. (NYSE: CNX) (Company) announced today the filing of a registration statement on Form 10 with the U.S. Securities and Exchange Commission (SEC), an important milestone in the Company’s previously announced plan to separate CONSOL Energy Inc. into two publicly-traded companies: a coal company and a natural gas exploration and…

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MetLife Sets Terms for Brighthouse Spin

NEW YORK–(BUSINESS WIRE)–Jun. 29, 2017– MetLife, Inc. (NYSE: MET) today announced that its board of directors has approved the spin-off of Brighthouse Financial, subject to the U.S. Securities and Exchange Commission’s (SEC) declaration that the Brighthouse Financial, Inc. Registration Statement on Form 10 is effective. In addition, all necessary state insurance regulatory approvals have been granted. Subject to the SEC’s timely…

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Vornado Announces Record Date for JBGS Spin

NEW YORK, NY–(Marketwired – June 26, 2017) – VORNADO REALTY TRUST (NYSE: VNO) (“Vornado”) announced today that its Board of Trustees has established July 7, 2017 as the record date (the “Record Date”) for its previously announced spin-off of its subsidiary, JBG SMITH Properties (“JBG SMITH”), which will hold Vornado’s Washington, DC business, currently known…

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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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