Honeywell Spinoff Multiball- Three Independent Companies 25 years ago, Honeywell (HON) was set to merge with GE(GE). Jack Welch stayed on to get the combination on proper footing. And then regulators stopped the deal. With the deal killed, Honeywell executed well for decades. Now, however it plans to follow GE’s 3 way lead and break into 3 companies,… Read More »
When Nexstar Media Group(NXST) struck a $6.2 billion all-cash deal to acquire TEGNA(TGNA), promising to consolidate 265 stations across 44 states and reach nearly 80% of U.S. households, this wasn’t just a merger. It was a broadcasting tectonic shift—a true mega-merger. Let’s unpack the implications, spin-off history, and yes—the unfortunate brand names. 1. Why “Mega-Merger” Isn’t an Overstatement… Read More »
Keurig Dr Pepper And Peet’s Short Lived Merger And Hasty Spinoff In a bold move worth framing in bold—sprinkle it with coffee for dramatic effect—Keurig Dr Pepper (KDP) has agreed to acquire JDE Peet’s (JDEP on Euronext) for approximately $18 billion in cash, according to the official press release. But here’s the twist: once closed, KDP will carve… Read More »
Unilever(UL) is giving its ice cream business a solo stage with the upcoming spinoff, or demerger, as the Europeans call it, of The Magnum Ice Cream Company—a sweet spinoff expected to launch in mid-November 2025. Yes, that includes your favorite indulgent brands: Magnum, Ben & Jerry’s, Cornetto, Wall’s, and Talenti—now headlining their own freezer aisle. Way back… Read More »
Barely 2 weeks ago, Mural Oncology(MURA) announced it would be winding down operations, and likely returning any remaining cash to shareholders. We estimated that the value to shareholders of the 2023 Alkermes(ALKS) spinoff would be slightly less than $2, a disappointing outcome, but at least not a total loss. Today, Mural announced it had agreed to be acquired… Read More »
Teleflex Spinoff Teleflex(TFX) spinoff- a name so bland that we can only hope it gets changed in the spinoff. . As announced on February 27, 2025, by mid‑2026, the company plans to spin off its Urology, Acute Care, and OEM businesses into a standalone, publicly traded company (“NewCo“), while RemainCo (“RemainCo”) will continue under the Teleflex name,… Read More »
Topgolf Callaway Spinoff Deferred Topgolf Callaway Brands(MODG) surprised investors this week by announcing it would delay the planned spinoff of its Topgolf entertainment unit, a reversal in both timing and tone from earlier guidance that pointed toward a late-2025 deal. The new expectation? Sometime in 2026, and only after the company recruits a permanent CEO to lead Topgolf… Read More »
McKesson Corporation (MCK), one of North America’s largest healthcare services giants, announced on May 8 that it plans to spin off its Medical-Surgical Solutions segment—a $11.4 billion revenue business—as a standalone company. The move is intended to allow McKesson to concentrate on its core pharmaceutical distribution and specialty biopharma services while granting the new entity autonomy to scale… Read More »
Medtronic (MDT) is preparing to spin off its Diabetes division, MiniMed into a standalone company with completion expected by mid‑ to late 2026, structured as an IPO followed by a split-off to shareholders, the company announced on May 21, 2025. The company’s presentation on the transaction can be found here. Led by Que Dallara, the division encompasses… Read More »
In November 2023, Alkermes plc (ALKS) spun off its oncology division into a new company: Mural Oncology plc (MURA). Armed with $275 million in cash, no debt, and a clean slate, the company was designed as a single-focus biotech aimed at bringing nemvaleukin alfa, an engineered IL-2 cytokine, through late-stage development. Less than two years later, the… Read More »