A subclass of spinoff that has proven popular, especially under activist pressure has been the spinoff of real estate assets into a publicly traded REIT. Civeo’s (CVEO) spin from Oil States (OIS) was one example, though the company has now opted against REIT status, as was Penn National Gaming’s (PENN) spin of Gaming & Leisure Properties (GLPI). Now,… Read More »
Titans of the hedge fund industry, including John Paulson, Carl Icahn, Nelson Peltz (and many more), gathered at the Pierre Hotel this past Wednesday for CNBC’s Delivering Alpha conference. There was a lot of Fed talk (Stanley Druckenmiller is not a fan), musings on the economy and of course, the proverbial ‘talking up the book’. It took a… Read More »
In the course of our busy lives, we sometimes never get around to writing about certain spins, even those which we are aware of and find interesting. Penn National Gaming’s (PENN) spin of Gaming & Leisure Properties (GLPI) is one such case. A search of our site revealed one scant mention when talking about IRS treatment of REITs,… Read More »
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 »