Month: January 2014

Kimball Wizard! Kimball International Will Turn One Into Two With Spinoff Of Its Electronics Group

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When I say furniture, you say…electronics manufacturing? Such is the odd pairing at Kimball International (KBALB) which currently operates two pretty distinct segments: furniture and electronic manufacturing services. Apparently, this diverse lineup was just too much for investors to handle, so the company announced that it would break itself up and pursue a spinoff of Kimball Electronics. I… Read More »

Illinois Tool Works Close To Selling Off Its Industrial Packaging Unit

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Take an activist investor, mix in a large, underperforming corporation with numerous business lines and you have all of the ingredients for a spin. Right? Well, roughly a year ago, Illinois Tool Works (ITW) began a process of ‘exploring options’ for its industrial packaging unit as part of its grand five year plan to improve operating performance and… Read More »

ONE Gas Joining The S&P Midcap 400

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S&P announced yesterday that upcoming Oneok (OKE) spinoff ONE Gas will be joining the S&P Midcap 400 after the spin is completed this Friday (January 31st). The new company will be one of the largest natural gas utilities in the US and consist of the Kansas Gas Service, Oklahoma Natural Gas Company and the Texas Gas Service. ONE Gas will be giving… Read More »

Show Me The Waypoint! Starwood Property Trust To Spin Off Its Residential REIT Starwood Waypoint Residential Trust

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Sometimes rumors and hints actually turn into reality. We noted last May that real estate wizard Barry Sternlicht, Chairman of Starwood Property Trust (STWD), hinted at a possible spinoff of a residential REIT during a company conference call. Just a few months later the company made it official and announced that its board of directors approved the spin off… Read More »

Isn’t It Icahnic? Carl Icahn Looks for PayPal Payday From Ebay

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With his public battle over Dell finished, Carl Ichan didn’t take too long in drumming up a new target. The famous corporate raider is now pushing eBay (EBAY) to spin off its online transaction business, PayPal, and submitted this idea for a non-binding vote at an upcoming shareholder meeting. Along with a spinoff, Mr. Icahn is also seeking… Read More »

Liberty Global Pondering Latin American Asset Spinoff

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While Mr. Malone was busy making other news, Liberty Global (LBTYA) revealed in a filing related to a separate transaction that it was considering a spinoff of its Latin American businesses. A John Malone company thinking about a spinoff? In the words of Capt. Louis Renault ‘Im shocked, shocked’. From the 8-K filing: Liberty Global is disclosing in the offering memorandum… Read More »

Take A Seat! Analyst Suggests Johnson Controls Seating Spinoff

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Breakups and spinoff ideas are forming everywhere. The WSJ had an article this past weekend discussing a possible spinoff of Johnson Controls’ (JCI) seating business. JCI operates three different business segments – building efficiency, auto supply and power supplies (batteries) – with auto supply, which includes seating, being the largest segment in terms of revenue. The company has a strong… Read More »

Is UBS Considering A Spin Off Of Its Investment Bank?

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With new regulations, capital requirements, lawsuits and scandals popping up, it is no surprise that the big banks have been doing some soul searching. ‘Derisking’ has become in vogue (or mandatory) and in response units have been shed and trading desks cut. Mediobanca analyst Chris Wheeler thinks UBS (UBS) might have something much bigger in the works though… Read More »

Cheers! Suntory Acquires Beam Creating Spirits Powerhouse

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Suntory Holdings will acquire Beam Inc (BEAM) for ~$13.6b in cash or $83.50 per share, representing a 25% premium to Friday’s close. Beam, owner of Jim Beam, Makers Mark, Canadian Club and more, is the largest US based spirits maker and the combination with Suntory will create the third largest spirits player in the world. The deal has… Read More »

Unlocking The Future – Agilent Selects Keysight As Name For Electronic Measurement Spinoff

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Agilent Technologies (A) unveiled the name of its upcoming electronic measurement spinoff company as Keysight Technologies. The name is actually a combination of the words ‘key’ and ‘insight’ although dropping the ‘in’ from insight does seem to make it lose meaning. So why those two specific words? Ahhh because the new company will have the ‘ability to see… Read More »

One Gas Spinoff Approved By ONEOK’s Board

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After obtaining the necessary approvals from numerous regulatory bodies, including most recently the Kansas Commission, ONEOK’s (OKE) board of directors officially approved the spinoff of its natural gas distribution business, One Gas. The new company will be one of the largest natural gas utilities in the US and consist of the Kansas Gas Service, Oklahoma Natural Gas Company and Texas Gas Service.… Read More »

Metso Rang In The New Year With Valmet Spinoff

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After a few stops in Australia, the international spinoff (or demerger as the rest of the world calls them) tour continues in Europe with Metso’s (OTC:MXCYY) recent separation of its pulp, paper and power business. The demerger was registered on December 31st and shares in the new company, Valmet Corporation (HLSE:VALMT), began trading on the NASDAQ OMX Helsinki… Read More »