There may be no “I” in team, but ther are certainly many billions. Madison Square Garden Sports($MSGS) closed Thursday at $407.17, giving the company an equity value of roughly $9.8 billion. That is a lot of money for almost anything. It is apparently not a lot of money for the reigning NBA champion New York Knicks and the… Read More »
Keurig Dr Pepper ($KDP) closed its acquisition of JDE Peet’s in April, and the breakup is now taking a more concrete shape. KDP named Russ Torres chief executive of the future Global Coffee Co. on October 1, with the separation still targeted for early 2027. KDP shareholders are heading toward ownership of two businesses with similar pre-synergy EBITDA… Read More »
Informa (LSE: INF) has launched a formal process to separate Taylor & Francis, its Academic Markets division, and says it will disclose the outcome of the review with its 2026 full-year results in March 2027. Informa’s October 6 company update says the group is reviewing all separation options, so investors do not yet know whether Taylor & Francis… Read More »
Vylor ($VYLR) will remain in the S&P 500 after Corteva’s seed-business spinoff, while post-spinoff Corteva ($CTVA) moves to the S&P MidCap 400 before Tuesday’s opening bell. S&P Dow Jones Indices added Vylor to the S&P 500 on October 1, the day the separation closed. Corteva’s deletion from the S&P 500 and addition to the MidCap 400 become effective… Read More »
On the heels of their Knicks finally winning it all, the Dolans are spinning again. Sixteen years after Cablevision sent Madison Square Garden out on its own, the collection of sports, media and entertainment assets once housed inside the cable company has been divided, recombined and divided again into an increasingly elaborate family tree of public companies. Now… Read More »
Middleby has spent years looking like a company that made more sense in pieces. Commercial kitchen equipment was one piece. Food Processing was another. Residential Kitchen was another still. They kind of looked similar, but, are, in fact, very different businesses. It’s not really surprising than that Middleby has chosen to split them up. Middleby has already moved… Read More »
S&P Global’s Mobility Global spinoff is now set and in the final stretch before execution. The distribution date is July 1, 2026. That is when S&P Global expects to complete the distribution of Mobility Global shares to shareholders. Holders of S&P Global common stock as of the June 15, 2026 record date are expected to receive one share… Read More »
AnaptysBio(ANAB) completed the spinoff of First Tracks Biotherapeutics (TRAX) on April 20. We wrote about the planned separation back in October, when the announcement sent AnaptysBio shares up more than 30%. Then the spinoff happened, First Tracks started trading, and we haven’t gotten around to discussing it now. Hopefully, we will have a lot of late posts coming… Read More »
When I saw the headline, I had an immediate question: Flex? Then I read the press release and it dawned on me. Was this the company formerly known as Flextronics? Ten seconds of googling confirmed the hunch, though I was surprised to find that the name change happened back in 2015. I think I had hair back then,… Read More »
It looks like Rich Battista will get his chance to dilate Time,Inc.(TIME) after all. After months of speculation and talks, beginning just after he began as CEO last fall, Time announced on Friday that its Board had determined not to sell the company at this time and to instead continue pursuing Battista’s strategic plan. What is the key… Read More »
If there is a big corporate trend, you can bet that high priced consultants were behind the idea or have since hopped on board offering advice on how to do it better. As spinoffs have become more popular, BCG has penned a number of articles on spinoffs and corporate divestitures. Their most recent piece notes that although spinoffs… Read More »
Though the majority of Johnson Controls(JCI) revenue derives from its automotive business, there has long been talk of spinning off the unit. Yesterday, the company announced that “it is exploring strategic options for the separation of its automotive business”. Of course, you know which strategic option we are rooting for. “Today’s announcement continues our strategy of proactive portfolio… Read More »
The trend towards tax-efficient divestitures continues with Axiall (AXLL) – previously called Georgia Gulf Corporation – obtaining PPG’s (PPG) former commodity chemicals business using a Reverse Morris Trust. The trend of using Reverse Morris Trusts to ‘sell’ divisions has been previously reported by Stock Spinoffs here. In the transaction, PPG created a short-lived spinoff, Eagle Spinco, and allowed… Read More »
After a busy Halloween, it is time to look ahead to the next spinoff opportunities. Luckily we won’t have to wait long as Marriott International’s (MAR) board of directors recently approved the spinoff of its vacation club, Marriott Vacations Worldwide. The distribution is expected to take place on November 21st (to shareholders as of Nov 10th) and shareholders… Read More »
Image by Getty Images via @daylife ArcelorMittal’s (MT) board confirmed its plan to spin-off the company’s stainless steel division in the hope of ‘maximizing shareholder value’ and capturing the division’s growth potential. The new company, which will be called APERAM, will be listed on several international exchanges (including Euronext Paris and Amsterdam), but will only trade OTC in… Read More »