UPM-Kymmene shareholders now have a much clearer picture of the plywood company they are scheduled to receive at the end of October. WISA Group held its first Capital Markets Day on September 23, laying out its standalone financial profile, balance sheet and strategy ahead of the planned October 31 demerger from UPM. Trading in WISA shares on Nasdaq… Read More »
Modine Manufacturing ($MOD) has set September 28 as the record date for the spinoff of its Performance Technologies business, with the distribution and immediate merger into Gentherm ($THRM) expected to close October 1. The transaction is structured as a Reverse Morris Trust. Modine shareholders will keep their MOD shares and receive shares of Gentherm, rather than ending up… Read More »
National Fuel Gas Company ($NFG) may be preparing to dismantle the integrated natural-gas model it has spent years telling investors was one of its biggest advantages. Reuters reported Wednesday that National Fuel is exploring strategic alternatives for its Integrated Upstream and Gathering business, which includes Seneca Resources and National Fuel Gas Midstream. The alternatives reportedly include a sale,… Read More »
When Flex announced plans in May to separate its Cloud and Power Infrastructure business, we said the Form 10 would tell us far more than the announcement. The AI-infrastructure story was attractive, but investors still lacked standalone revenue, margins, customer concentration and capital-structure details. That filing arrived Tuesday. The future company is now Axiom Solutions International, and it… Read More »
Corteva has set the final terms and dates for the Vylor spinoff. Shareholders of Corteva (NYSE: CTVA) as of September 24 will receive one share of Vylor for every Corteva share they own. The distribution is scheduled for October 1, and Vylor will trade on the New York Stock Exchange under VYLR. Seven years after Corteva was spun… Read More »
Genuine Parts Company ($GPC) filled in another important piece of its coming breakup on Wednesday, naming the executives who will run the Automotive and Industrial businesses after their planned separation in the first quarter of 2027. Current GPC CEO Will Stengel will go with the Industrial business, which will retain the Motion name, while former Grainger executive Court… Read More »
The headline transaction is easy enough to understand. Tamarack Valley Energy (TSX: TVE) and Headwater Exploration (TSX: HWX) are combining in an all-stock merger valued at roughly C$10 billion, creating by far the largest publicly traded producer focused entirely on Alberta’s Clearwater. The rest of the deal takes considerably more work. Headwater shareholders will receive one Tamarack share… Read More »