Dover Board Approves Spin Off, Clearing Way For February Birth Of Knowles

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The Dover(DOV) Board has approved the company’s previously announced spin off of Knowles(KN). Dover shareholders of record as of February 19, 2014 will receive one share of Knowles on February 28 for every two shares of Dover that they own. Knowles, which will trade under the ticker KN, will begin regular way trading on March 3. Both stocks are expected to trade on a when issued basis prior to the spinoff. The spinoff is expected to be tax free to shareholders.

Dover, a diversified manufacturing company, is conducting the spin to add increased focus to Knowles business as “a market leader and global supplier of advanced micro-acoustic solutions and specialty components serving the mobile communications, consumer electronics, medical technology, military, aerospace and industrial markets.”

In order to help familiarize investors with the new company, Knowles will be hosting a presentation on February 19

Knowles` management plans to host an investor conference in New York City on February 19, 2014 to present the new company`s management team, strategy, competitive positioning and outlook. On the morning of February 19, 2014, Knowles will file a copy of the investor presentation for that conference with the SEC on a Current Report on Form 8-K, which will be available at www.sec.gov.  This conference will be webcast, and the presentation materials, along with a recording of the conference, will be available for 120 days on Knowles` website, www.knowles.com.

Disclosure: The author holds no position in any stock mentioned

 

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