Nelson Peltz is legendary for successfully pushing for structural change at large companies. This has often resulted in spinoffs of disparate divisions. Last week, Peltz’s investment vehicle, Trian Fund Management, disclosed a $3.5 billion stake in Procter & Gamble(PG). Peltz steps into the shoes of Bill Ackman, who several years ago took an activist position in P&G, only… Read More »
Despite what appeared to be reasonable improvement in the first quarter since its spinoff from DuPont(DD), The Chemours Company(CC) stock has continued its downward spiral. The company which began when-issued trading at $21 in late June, closed at $6.43 yesterday. As we have discussed previously, the company is burdened with $4 billion in debt, plus unknowable environmental liability.… Read More »
DuPont(DD) has not been lacking in drama, with a famously noisy battle with activist Nelson Peltz. The company is now in the final stretch of its spinoff of Chemours, with a date and ratio set. The stock will be distributed on July 1 to shareholders as of June 23. Shareholders will receive one share of Chemours for every… Read More »
The Dolan family is at it again. Perhaps inspired by the master of the spinoff, fellow cable mogul John Malone, 2010 Cablevision(CVC) spinoff The Madison Square Garden Company(MSG) has announced that it is exploring spinning off its Media and Sports business from its Live Entertainment business. The company’s Board Of Directors unanimously approved the plan to explore the… Read More »