Spin-Off

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Honewell Files Form 10 for Resideo Technologies

Dear Honeywell Shareowner: On October 10, 2017, we announced our intention to spin our Homes and ADI global distribution business. I am pleased to confirm that we expect to distribute shares in the new company, Resideo Technologies, Inc., before the end of the year. We will provide more details on this distribution as the effective spin…

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Honeywell Files Form 10 for Garrett Motion

Dear Honeywell Shareowner: On October 10, 2017, we announced our intention to spin our Transportation Systems automotive business. I am pleased to confirm that we expect to distribute to you shares in the new company, Garrett Motion Inc., at the end of the third quarter. Garrett will be listed on the New York Stock Exchange…

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VF Corp to Spin Off Jeans/Outlet Biz

GREENSBORO, N.C.–(BUSINESS WIRE)– VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, today announced that its Board of Directors intends to separate the company into two independent, publicly traded companies: VF Corporation, a global apparel and footwear powerhouse, and a yet-to-be named company (NewCo), which will hold VF’s Jeans and…

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Perrigo to Separate Pharma Unit

DUBLIN, Aug. 9, 2018 /PRNewswire/ — Perrigo Company plc (NYSE; TASE: PRGO) today announced that its Board of Directors approved a plan to separate the Company’s Prescription Pharmaceuticals (Rx) business following the Company’s previously announced strategic portfolio review. Continuing its focus on enhancing shareholder value, the Board believes a separation of the Rx business will better enable this…

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LINN Energy Spins Off Riviera Resources

HOUSTON, Aug. 07, 2018 (GLOBE NEWSWIRE) — LINN Energy, Inc. (OTCQB: LNGG) (“LINN” or the “Company”) announced today that it has completed the previously announced spin-off of Riviera Resources, Inc. (“Riviera”) from LINN (the “Spin-Off”). Riviera is now an independent reporting company and is expected to begin trading on the OTC Market under the ticker symbol “RVRA” on August 8, 2018. Under…

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LINN Energy Sets Date for Riviera Spin Off

HOUSTON, July 24, 2018 (GLOBE NEWSWIRE) — LINN Energy, Inc. (OTCQB:LNGG) (“LINN” or the “Company”) announced today that its Board of Directors (the “Board”) has unanimously approved the previously announced spin-off of Riviera Resources, Inc. (“Riviera”) from LINN (the “Spin-Off”). Following the Spin-Off and the transactions contemplated thereby, for each share of LINN common stock…

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Danaher to Spin Off Dental Unit

WASHINGTON, July 19, 2018 /PRNewswire/ — Danaher Corporation (NYSE: DHR) today announced its intention to spin off its Dental segment into an independent, publicly-traded company (“DentalCo”). The transaction is intended to be tax-free to Danaher shareholders and expected to be completed in the second half of 2019. “This is an important step towards realizing even greater potential…

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A Venezuelan Spin-Off, Anybody?

Dear Mercantil Servicios Financieros, C.A. Shareholder, On December 15, 2017, our shareholders voted to approve the separation of our subsidiary, Mercantil Bank Holding Corporation, or the Company, through a spin-off. We believe that Mercantil Servicios Financieros, C.A., which we call MSF, and the Company will be better-positioned, as separate, independent companies, to capture growth opportunities by operating with…

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Autoliv Completes Veoneer Spin-Off

Autoliv, Inc. (NYSE: ALV and SSE: ALIVsdb) the worldwide leader in automotive safety systems, today announced the completion of the spin-off of its electronics segment, Veoneer, Inc. With the completion of the spin-off, Veoneer, Inc. will today begin regular way trading on the New York Stock Exchange and will begin trading on Nasdaq Stockholm as an…

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DDR Completes Retail Value Spin-Off

BEACHWOOD, Ohio — July 2, 2018, DDR Corp. (NYSE:DDR) today announced that it has completed the previously announced spin-off of Retail Value Inc. (“RVI”), which is now an independent, publicly traded company that will begin regular-way trading today on the New York Stock Exchange (“NYSE”) under the ticker symbol “RVI.” RVI has a portfolio of…

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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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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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Autoliv Provides Spin-Off Details

Autoliv Board approves completion of spin-off May 24, 2018 –       Board of directors approves completion of spin-off and sets record date –       New board members of Veoneer –       Details on share distribution and first day of trading –       Bridge financing –       Details on second quarter reporting (Stockholm, Sweden, May 24, 2018) – Autoliv, Inc. (NYSE: ALV and SSE:…

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Euroseas Provides Spin-Off Details

Euroseas Ltd. Announces the Effectiveness of the Registration Statement and Approval for Listing on the NASDAQ Capital Market of EuroDry Ltd, its Drybulk Fleet Spin-Off Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced that the registration statement on Form F-1…

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Trinity Files Form 10 for Arcosa Spinoff

Dear Trinity Industries Stockholder: In December 2017, we announced our plan to separate Trinity Industries, Inc. into two standalone, publicly traded companies through the spin-off of our infrastructure-related businesses to our stockholders. Upon completion of the spin-off, Trinity will continue to operate our integrated rail manufacturing, leasing, and services businesses, together with certain other businesses….

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Wyndham Worldwide Sets Spinoff Date

PARSIPPANY, N.J., May 9, 2018 /PRNewswire/ — Wyndham Worldwide Corporation (NYSE: WYN) today announced that its Board of Directors has approved the previously announced spin-off of its wholly-owned subsidiary Wyndham Hotels & Resorts, Inc., the world’s largest hotel franchisor with more than 8,300 affiliated hotels.  The distribution is expected to occur after the market close on May 31, 2018 to Wyndham Worldwide stockholders of…