Tag Archives: Internal Revenue Service

Noble Prize? Noble Corporation Receives IRS Private Letter Ruling Regarding Proposed Spinoff

Though it is not expected to come up for a shareholder vote until Q2 2014, Noble Corporation(NE) is making progress with its plan to spin off its non-deepwater assets.  Noble announced last week that it had received a private letter ruling from the Internal Revenue Service relating the the expected tax-free status of the proposed transaction.  Though this… Read More »

Will IRS REIT Review Affect Upcoming Spinoffs?

Delays could be on the horizon for CBS’ (CBS) upcoming North & South American outdoor advertising spinoff. The IRS has apparently formed an ‘internal working group’ to study its current standards of what type of companies can qualify for REIT status. The news came out late last week when both Lamar Advertising (LAMR) and data storage company Equinix Inc… Read More »