What a week for spinoffs. Truly historic. Beginning on Monday with TEGNA (TGNA)/Gannett (GCI), the ‘Summer of Spin’ crescendoed yesterday with the completion of six more spins: DuPont (DD) spun off its performance chemicals unit (including Teflon) into Chemours (CC). The new company told investors it plans on paying out a stable dividend, which is somewhat unusual for such… 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 »
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 »
The Summer Of Spinoffs continues on July 1 with NiSource’s(NI) spinoff of the Columbia Pipeline Group(CPGX). NiSource shareholders as of June 19 will receive one CPGX share on July 1 for every NiSource share held. Columbia’s new board has already approved ambitious expansion plans. The company plans to grow EBITDA by 20% annually and dividend by 15% annually… Read More »
For nearly four million customers in seven states NiSource (NI) is a utility providing gas and electricity. At the same time, the company operates a large non-regulated gas pipeline, storage and midstream business. In September, the company announced plans to spin off this business as the Columbia Pipeline Group. The company expects that the spinoff will be completed… Read More »