In a transaction we previously discussed here, Expedia(EXPE) will complete the spinoff of TripAdvisor(TRIP) on or around December 20. Immediately prior to the spin, Expedia will execute a 1 for 2 reverse split, and on December 20, TripAdvisor will be added to the S&P 500, replacing Tellabs(TLAB). Expedia, itself spun off several years ago by Barry Diller’s IAC(IAC),… Read More »
Whopper Investments asks the question we’ve been puzzling over: What is the purpose of the preferred stock being issued to Sears(SHLD) shareholders as part of the Orchard Supply(OSH) spinoff? We’ve previously written in general terms about the spinoff here, but haven’t much discussed the prospects of the securities that will be distributed. Sears has its own issues which… Read More »
Much like Halloween, the end of the year is also shaping up to be an extremely busy period for spinoffs. The latest to join the party is Sears Holding (SHLD) whose board of directors approved the spin offof Orchard Supply Hardware Stores earlier this week. The spinoff will take place on December 30 to shareholders as of today,… Read More »
After successfully completing an IPO this past July, Sunoco (SUN) announced that it is ready to move on to the second stage of its planned spinoff of SunCoke Energy (SXC). On January 17th, 2012 Sunoco will issue a special stock dividend distributing its remaining ~81% stake in SunCoke to shareholders as of January 5th. SUN shareholders will receive… Read More »
New Year’s Eve is one of those ‘big events’ that rarely lives up to its hype and often ends up pretty anti-climactic. Doesn’t bode well for this ensemble flick(actually, I am sure it will suck for a host of other reasons). The board of directors at Williams Companies (WMB) believes they have found the solution for a great… Read More »
Alexander & Baldwin(ALEX) announced plans this morningto spin off Matson, its ocean transportation and domestic logistics company. Alexander & Baldwin, which has owned Matson since 1969, is the 4th largest private landowner in Hawaii, where it owns 88,000 acres. A & B is the largest farmer in the state, a developer of condos and other projects, and owns… Read More »