In 2015, under pressure from legendary activist investor Carl Icahn, eBay(EBAY) chose to spin off PayPal(PYPL). While PayPal stock has performed remarkably since the spin-off, eBay stock’s performance has been decidedly prosaic. With this backdrop, not one, but two activist investors have entered the stage and begun pushing for changes. Of course, most relevant to us is that… Read More »
Serial spinner IDT(IDT) has set the date for its spinoff of Zedge(ZDGE). IDT shareholders as of May 26 at 5PM will receive one share of Zedge for every three IDT shares that they own. The spinoff will be effective at 11:59PM on June 1. The company’s most recent form 10 can be found here. We recently had the… Read More »
When United Online (UNTD) first announced plans to spin off its FTD floral business last summer, the company anticipated it would be completed this quarter. In November, the company hoped to complete the transaction by August. Yesterday, the company released its fourth quarter earnings, and now hopes to complete the transaction by the end of the third quarter.… Read More »
Pfizer (PFE) generated a lot of buzz last year when it announced it was considering strategic options for several of its units. Its nutrition business has since been sold to Nestle for over $11b in cash and this week will bring about the IPO carve out of its animal health division, now known as Zoetis. The animal health… Read More »