Not for the first time, Alibaba(BABA) graces our pages with news of a cancelled spinoff. Back in 2015, it was Yahoo’s planned spinoff of Aabaco Holdings that was cancelled, due, in large part, to IRS opposition to the transaction being tax free. Aabaco would have been a vehicle to take Yahoo’s valuable Alibaba stake and move it into… Read More »
We’ve known for some time that 3M(MMM) would be spinning off its healthcare business next year in the first half of 2024. Now we know its name: Solventum. Solventum, of course, in honor of 3M’s legendary founder James E. Solventum III. No, of course not, Solventum because a branding agency was paid way too much money to mash… Read More »
With a goal of becoming “a pure-play, profitable neuroscience company”, on November 15, Alkermes(ALKS) spun off its oncology business as Mural Oncology(MURA). In the tax free spinoff, Alkermes shareholders as of November 6 received one share of Mural for every ten shares owned. According to BioPharma Dive, the $275 million in cash that Mural has to start with… Read More »