Mohnish Pabrai may be best known to the world for his hedge fund or for his books such as The Dhando Investor, but on this site it’s for his relatively new Spinoff Portfolio. Unfortunately, despite strong backtested results, 2018 was a rough year for the portfolio. Four of out five names finished in negative territory for the year,… Read More »
Happy New Year to all of our readers! 2018 is now officially history and it will be remembered as a year of increased volatility that ultimately left some portfolios quite damaged. That includes Mohnish Pabrai’s Spinoff Portfolio and its (backtested) historically S&P crushing results. Pabrai is a legendary fund manager and author of The Dhando Investor. In one of… Read More »
After a bit of a delay and 17 years after it was spun off from Varian Associates, Varian Medical Systems (VAR) finally completed the spinoff of its imaging component business, Varex Imaging (VREX). Shareholders yesterday should have received 0.4 VREX shares for every one VAR share owned, so one needed to have owned at least 3 VAR shares in order… Read More »
Late last year Varian Medical Systems (VAR) pushed back the timing of its Varex Imaging spinoff to January 2017. Now the company’s board of directors is sticking with that target by officially approving the separation of the imaging business and setting January 28th as the distribution date. Varian shareholders as of January 20th should receive 0.4 shares of Varex for every 1… Read More »
Varian Medical Systems (VAR) is currently in the process of spinning off its imaging component business, Varex Imaging. As part of the transaction, Varex will now send Varian a $200m parting ‘gift‘ (or dividend) to be funded by new borrowings. According to Varian’s CEO Dow Wilson, ‘the Imaging Components business has gained momentum since last May when we… Read More »
It’s not surprising to see companies experienced with spinoffs go back to the same playbook, but Varian Medical System’s (VAR) upcoming Imaging Components spinoff is still a bit surprising. After all, it’s been 17 loooong years since Varian Associates broke itself into three different parts, including Varian Medical Systems. The new business will be named Varex Imaging Systems and… Read More »