Sometimes it’s nice to take a break and let someone else do the work. In this week’s edition of Odds & Ends, we highlight some other sites that have dug a bit deeper into some upcoming or recent spinoff companies. It’s not quite OPM (other people’s money), but it’s always great to building off the work of others!… Read More »
Active management may be under attack, but don’t tell that to Barron’s. Every year the venerable paper hosts an investor roundtable featuring some of the industry’s leading voices and largest active asset managers. The day long event offers a chance to hear their thoughts on a wide variety of topics including the economy and pressing global issues. Readers… Read More »
There are worse names in the spinoff world, but Edgewell Personal Care(EPC) is a fairly bad one. Made worse, no doubt, by the company’s tortured explanation of its deep meaning. Edgewell, which owns such personal care brands as Schick, Skintimate, Hawaiian Tropic, and Playtex, spun off Energizer Holdings(ENR) in July 2015. Edgewell stock has underperformed since, recently down 20% from… Read More »
Nelson Peltz is legendary for successfully pushing for structural change at large companies. This has often resulted in spinoffs of disparate divisions. Last week, Peltz’s investment vehicle, Trian Fund Management, disclosed a $3.5 billion stake in Procter & Gamble(PG). Peltz steps into the shoes of Bill Ackman, who several years ago took an activist position in P&G, only… Read More »
The ‘Summer of Spin’ rolls on and yesterday witnessed the completion of three more spin offs: Masco (MAS) separated its installations and services into TopBuild (BLD) TriMas (TRS) spun off its former Cequent units as Horizon Global (HZN) Babcock & Wilcox (BWC) changed its name to BWX Technologies (BWXT) and spun off its power generation unit as Babcock &… Read More »
The unprecedented number of spins this week has kept the folks at S&P working overtime making changes to their indexes. Last week, AOL(AOL), a spinoff of Time Warner(TWX) was acquired by Verizon(VZ), a conglomeration of several spinoffs of the original AT&T(T). As a result, Casey’s General Stores(CASY) will move from the S&P SmallCap 600 to take its spot in… Read More »
Energizer Holdings(ENR) will be completing its spinoff of Energizer Holdings tomorrow, July 1, 2015, and renaming itself Edgewell Personal Care(EPC). Shareholders as of June 12 will receive one share of New Energizer for each share held. An explanation for the Edgewell name and its power, strength and beauty can be found here. Though Edgewell management is bullish on… Read More »
Calling all spinoff lovers – it’s time to get your hard hats on because the end of this month is going to be crazy. Just call it the ‘Summer of Spin’. In the somewhat improbable five plus years we have been running this site (and I am willing to bet over the course of history), there has never… Read More »
Like the famed bunny, the Energizer Holdings (ENR) spinoff just keeps on going more than a year after the initial announcement. These things do take awhile and it’s not like progress isn’t being made. For example, the company recently announced a $600m notes offering for the future household products company (mainly batteries) which will retain the Energizer name and… Read More »
Late last month, Procter & Gamble(PG) announced that it would be divesting its Duracell business. At the time, its preferred outcome was to spin off the division to shareholders. The second step is the exit of the Duracell business. Although no decision has been made on the form of the exit, P&G’s current preference is a split-off of… Read More »
“The wind goes toward the south, and turns about to the north; it turns about continually in its spin, and the wind returns again to its spin.”(Ecclesiastes 1:6) Some companies are such inveterate spinners, that one could get dizzy watching their machinations. In 2000, after 14 years of ownership, Ralston Purina spun off Energizer Holdings(ENR). Ralston Purina would… Read More »