Earlier today, we reported that former Dean Foods(DF) chair Tom Davis and Las Vegas gambler Billy Walters were being charged with insider trading related to Dean Foods’ 2012 announcement that it would be spinning off WhiteWave(WWAV). We also noted that professional golfer Phil Mickelson was said to have been given the tip. Bloomberg now reports that Mickelson is… Read More »
CNBC reports this morning that former Dean Foods(DF) chair Thomas Davis will be charged with insider trading, along with well-known Las Vegas gambler William “Billy” Walters. Davis had resigned last year as rumors swirled of the investigation into insider trading based on nonpublic information regarding Dean’s Whitewave(WWAV) spinoff. Walters is believed to have passed the tip along to professional… Read More »
Some more spinoff news from the current earnings season. Dean Foods (DF) reported disappointing Q4 numbers, but buried within the press release were plans for its ~86% stake in the WhiteWave Foods Company (WWAV). Dean plans on spinning off a chunk of those shares to shareholders in a tax free transaction after its lockup period expires, likely at… Read More »
In the largest one day gain on a spinoff announcement we can recall, Dean Foods(DF) jumped over 40% yesterday after announcing it would be spinning off its WhiteWave-Aplro business. The Wall Street Journal reports that this is due to excitement about the company’s smaller organic business “which accounts for less than a fifth of group sales, but 40%… Read More »
After the close this afternoon, together with reporting its earnings, Dean Foods(DF) announced it would conduct an IPO for part of its WhiteWave-Alpro division, and subsequently distribute the rest to its shareholders. We have not yet read through the S-1 filing, which can be found here. From the earnings release, we learn: Separately, Dean Foods announced today that… Read More »