Author Archives: Inelegant Investor
Earlier this week, I wrote about TOP Ships (TOPS) spinoff of Rubico (RUBI). At the time, shareholders were in limbo as while the ex-distribution date had been set as June 16, 2025, the distribution date had not been set. The company merely had suggested it would be in July. TOP missed that projection, by one day, announcing this… Read More »
Warner Brothers Discovery (WBD) has announced plans to split into two standalone, publicly traded companies by mid‑2026, separating its Streaming & Studios division (Warner Bros. Pictures, HBO, HBO Max, DC, and gaming) from its Global Networks division (CNN, TNT, TBS, Discovery Channel, HGTV, and more). The split will be tax-free to shareholders and will result in the… Read More »
TOP Ships Inc. (TOPS) announced that it would be spinning off Rubico Inc. into its own public company in July 2025, Rubico now officially owns two modern Suezmax tankers, providing investors with a clean, asset-backed entry into the marine energy infrastructure sector. Of course, a distribution date has still not been announced, and July is almost over, but… Read More »
Holcim(HCMLY) has officially cemented a new chapter in its corporate strategy, spinning off its North American arm as Amrize(AMRZ) on June 23, 2025, via a 100% dividend‑in‑kind distribution — Holcim shareholders received one share of Amrize for each Holcim share they held (Reuters). This landmark transaction, the largest spinoff of 2025 so far, unveiled a standalone building… Read More »
It’s a bird! It’s a plane! It’s a Liberty Broadband spinoff. Liberty Broadband (LBRDA) quietly completed another chapter in the John Malone spinoff saga this month, distributing shares of GCI Liberty(GLIBA)—a standalone Alaskan telecom provider—on July 14, 2025, to shareholders of record as of June 20. The transaction, which had been in the works for several quarters, marks… Read More »
Kraft Heinz (KHC) is reportedly preparing to spin off a large portion of its grocery brands—including Kraft, Oscar Mayer, Jell‑O, and Lunchables—into a standalone public company valued at up to $20 billion. The move would mark another dramatic restructuring in the food giant’s long history of breakups and mergers, and it could significantly reshape the packaged food industry… Read More »
Becton, Dickinson and Company (BDX) is poised to spin off its Biosciences & Diagnostic Solutions business—then merge it with Waters Corporation(WAT) in a reverse Morris Trust transaction valuing the deal at approximately $17.5 billion (Becton, Dickinson and Company). 📊 Key Deal Metrics & Structure Metric Details 2025 Pro Forma Sales ~$6.5 B combined revenues 2025 Pro Forma Adjusted EBITDA ~$2.0 B… Read More »
Like most would-be mining companies, Foremost Clean Energy(FMST) claims a large array of very promising prospects. A recent investor presentation touts the potentially valuable uranium and lithium deposits that the company has rights to. On January 30, 2025, this nanocap with a market cap of less than $18 million, will complete the spinoff of its gold and silver… Read More »
UPDATE(1/27/25): Apparently the “people familiar” with the situation were less familiar than they thought. Diageo denied any plan to sell Guinness. The UK distiller said it was responding to reports over Guinness and its 34% stake in Moet Hennessy, luxury-goods conglomerate LVMH’s drinks division. “We can confirm that we have no intention to sell either,” it said in a… Read More »
So my editor put the assignment on my desk- write about Aptiv(APTV)’s announcement of its plan to spin off its Electrical Distribution Systems business. It seemed boring and straightforward enough. Nothing was ringing a bell and I started to doze off at the thought of Electrical Distribution Systems. Based in SCHAFFHAUSEN, Switzerland- is that even a real place?… Read More »
In 1965, a Yale student named Fredrick Smith wrote a business plan for a term paper. Legend has it that, Smith, a friend of both John Kerry and George W. Bush at Yale, received a C on the paper. Six years later, following meritorious military service as a Marine, Smith took that business plan and, using his significant… Read More »
Dupont Spinoff. Something we have written about many times over the years. We have a good excuse. We must keep writing about them, because they keep spinning off. DuPont, officially known as DuPont de Nemours, Inc, will likely eventually spin itself into oblivion, like other reapeat spinners Tyco and Sara Lee. Ed Breen The Spinoff King If we… Read More »
Angi Spinoff From IAC IAC(IAC) had high hopes when it acquired what was then Angie’s List in 2017 and merged it with its HomeAdvisor unit. The new company, then named ANGI Homeservices, remained publicly traded under the ANGI ticker, though controlled fully by IAC. There were high hopes then, but they haven’t panned out. With the stock down… Read More »
Comcast(CMCSA), the second largest cable tv company by subscribers in the US will be announcing the spin off of its NBCU cable networks as soon as tomorrow, the WSJ reports. We believe this to be Comcast’s first spinoff, though much of its footprint came from AT&T(T) spinoff AT&T Broadband. AT&T Broadband was itself a combination of MediaOne(a spinoff… Read More »
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 »