There was much investor chatter last month that Gilead Sciences(GILD) could unlock value by splitting its Hepatitis C business from its HIV business. RBC Capital advanced the case in a note RBC Capital suggested the drugmaker would be better off cutting its businesses right down the middle, saying that shares could jump by as much as 40% if… Read More »
Honeywell’s (HON) board of directors approved the spinoff of AdvanSix, its resin and chemical business. The spinoff will take place on October 1st and shareholders as of September 16th will receive 1 share of AdvanSix for every 25 shares of HON owned. A When-Issued market is expected to be in place beforehand, but post-spin, the company will trade… Read More »
The temperatures remain high, but the summer season is winding down so lets catch up on some news we may have missed. In early August, Emerson Electric (EMR) reached a deal to sell off its network power business to a group led by private equity firm Platinum Equity for the price tag of $4b. The unit generated revenue… Read More »
AbbVie(ABBV) surged out of the gate following its January 2013 spinoff from Abbott Laboratories(ABT). By December 2014, the stock price had doubled. Since then, however, the stock languished, continuing to trade below its December 2014 highs. Despite efforts to diversify, Humira, which is now off patent, accounts for 60% of revenue. Barron’s reports that Raymond James now thinks… Read More »