With its stock in freefall, Mallinckrodt(MNK) announced plans to move forward with a spinoff announced late last year. Mallinckrodt stock, which traded for over $130 per share in March 2015, was $62.58 when we wrote about it in November 2015, and $18.67 when we discussed it in December 2018. In the last 6 months, it has fallen another… Read More »
Grab a tissue and say farewell to the Tyco (TYC) name. The former high flying conglomerate has a complicated history full of acquisitions (lots of those), strategy shifts, scandal ($6,000 shower curtains!) and of course, a lot of spinoffs. Current DuPont (DD) CEO Ed Breen smashed the company apart not once, but twice, creating three entities in both… Read More »
In stark contrast to the American people’s growing heft, American conglomerates appear to be on a steady diet, often slimming down via spinoffs. Break up expert and Swiss-conglomerate Tyco International (TYC) is the latest fad follower as the company announced plans to split itself into three separate companies. The new businesses will be: ADT North America (residential security):… Read More »