The Great Exchange! CBS To ‘Split Off’ Remaining CBS Outdoor Stake Via Exchange Offer

CBS (CBS) finally released details on its plan to ‘split off’ its remaining 81% stake in CBS Outdoors (CBSO). After successfully raising ~$2b selling 19% of the outdoor advertising company in an IPO a few months ago, the company is offering a voluntary exchange offer to dispose of its remaining shares. CBS Class B shareholders will be able…