Tag Archives: WMT

Elliott & Starboard Double Team eBay, Push For Spin Off Of StubHub and Classifieds

In 2015, under pressure from legendary activist investor Carl Icahn, eBay(EBAY) chose to spin off PayPal(PYPL). While PayPal stock has performed remarkably since the spin-off, eBay stock’s performance has been decidedly prosaic. With this backdrop, not one, but two activist investors have entered the stage and begun pushing for changes. Of course, most relevant to us is that… Read More »

Everything But the Kitchen Sink – NACCO to Spin Off Hamilton Beach Kitchen Appliance Division

NACCO Industries (NC) announced Monday that it has filed with the SEC regarding “a proposed spin-off… of its housewares-related business to NACCO shareholders.” Remaining in the company would be its mining business — I guess there just isn’t a market for coal-powered blenders. From the press release: Hamilton Beach Brands Holding Company, as an independent public company, will… Read More »

GE Sets Ratio For Synchrony Exchange Offer At 1.0505, Deadline To Elect Is Monday Night, November 16

Last night, GE(GE) set the final ratio for its exchange offer at 1.0505 shares of Synchrony(SYF) common stock for each share of GE tendered. At GE’s closing price on Thursday of $30.16 and Synchrony’s close of $30.79, this represents $32.34 worth of Synchrony stock, or a premium of 7.2%.  GE shareholders have until midnight, Monday night, November 16… Read More »

Murphy USA Spinoff Approved And Set For End Of August

Murphy Oil’s (MUR) board of directors formally approved the spinoff of its US retail marketing business, Murphy USA Inc, recently. The distribution is expected to be tax free and is set for August 30th to shareholders of record on August 21st. The new company will trade on the NYSE under the ticker ‘MUSA’ and MUR shareholders will receive… Read More »

Murphy Oil USA Deal With Walmart Bodes Well For Upcoming Spin From Murphy Oil

Spinoffs take awhile to execute and the world doesn’t just pause for these companies. Murphy Oil USA, the downstream arm of Murphy Oil (MUR) set to be spun out next year, announced that it entered into an agreement with Wal-Mart (WMT) to open up over 200 new locations at existing Walmart stores. The program is expected to be… Read More »

Murphy Oil Considering Following Downstream Spin Trend

‘Everyone else is doing it’. Unfortunately, that line never worked for me as a child [it was always met with something like ‘if everyone else was jumping off a bridge…’ or ‘well, you are part of this family’], but apparently it is the new motto for integrated energy companies. Many players in the space appear to be operating… Read More »