The long, drawn out Osram (MU:OSR) saga finally came to a close a few weeks ago when ~80% of the shares in the lighting company were officially listed on July 8th. Siemens (SI) shareholders received one share of Osram for every 10 shares of Siemens owned. The shares are currently trading on foreign exchanges as there doesn’t appear to… Read More »
Well that didn’t take long to get back on track. After shareholders overwhelmingly approved Siemens’ (SI) Osram lighting spinoff, the transaction was quickly derailed by a lawsuit. A small group of shareholders claimed the meeting was invalid due to acoustics issues, a charge which Siemens considered ‘without merit’. A Munich judge agreed with the company and tossed the complaint stating the… Read More »
Earlier this year, Siemens(SI) shareholders overwhelmingly approved the spinoff of 80.5% of Osram at the company’s annual meeting. Or did they? Though it was reported that 98% of shareholders who cast votes were in favor of the spin off, a group of shareholders has now stepped forward to challenge the vote. While this lawsuit is pending, the company… Read More »
A brief summary of spinoff news with a dash of the rumor mill mixed in – enjoy the first Spinoff Roundup. Readers – what is the interest level (if any) in non-US traded spinoffs? Newscorp (NWS) announced plans to spin off Sky News in order to gain government approval for its takeover of British Sky Broadcasting. The spin… Read More »