Continuing with the Australian theme from yesterday, wooden pallet maker Brambles (ASX:BXB) recently completed the demerger of its information management and document storage business, Recall Holdings (ASX:REC). I bet that if you work for a large company and look around the office then you will see a bunch of ‘Recall’ boxes lying around. Shareholders overwhelmingly approved of the… Read More »
WPX Energy (WPX) announced that its CEO & President, Ralph Hill, would be stepping down at the end of the year and that a new committee was being formed to find his replacement. No reason was reported in the press release. Mr. Hill had been with WPX and its parent company Williams (WMB) for over 30 years and… Read More »
Amcor’s (ASX:AMC) shareholders overwhelmingly approved the demerger of Orora (ASX:ORA), its Australasia and Packaging Distribution business, at a shareholder meeting last week with over 99% of the votes cast in favor. Shareholders will end up owning two distinct packaging companies with different focuses and end markets. While the board considered numerous options for the business, in the end they… Read More »
A familiar name to readers of this site was leading the pack of top gainers for a bit last Thursday and the reason was a bit surprising. Exelis (XLS), a defense contractor freshly spun out of ITT (ITT), announced that it would pursue a spinoff of its own by separating its military and government services business into a standalone unit.… Read More »
Harvard Bioscience (HBIO) recently completed the spinoff of its regenerative medicine device subsidiary, Harvard Apparatus Regenerative Technologies (HART). As we previously noted, the parent’s CEO and other top management moved to the spinco, creating a leadership void. The posts have since been filled and the company recently announced the details of some further ‘inducement grants’ for its new management team. Here… Read More »
Ingersoll-Rand (IR) completed the spinoff of its commercial and residential security business, Allegion (ALLE). The new company started trading today on the NYSE and IR shareholders should have received 1 share of ALLE for every 3 shares of IR owned. The new company is expected to have revenues of over $2b and EBITDA of over $400m. For much… Read More »