Cookson Group (CKSNY) shareholders overwhelmingly approved the planned demerger of the company’s performance material division, Alent, at the shareholder meeting earlier this week. What a surprise! The demerger will be effective on December 19th and Cookson shareholders will receive one share of Alent and one share of the newly named Vesuvius for every share of Cookson owned. Both companies are expected to rank in the FTSE 250.
The company also recently held ‘investor days’ for the new companies in order to drum up interest and excitement post-spin. The presentation for Alent can be found here and I would expect the Vesuvius presentation to be up on the site shortly. These and the accompanying webcasts contain a host of good information regarding the operations and outlook for each company.
For additional background information on the transaction, check out our earlier coverage here and here.
Disclosure: Author holds no position in any stock mentioned.