Two years after successfully fending off legendary activist Carl Icahn and his plan to break up the company, some think that Oshkosh Corp(OSK) management may be planning a spinoff of its own. Maureen Farrell of the Wall Street Journal reports on a recent note by CreditSights analyst Jeff Wichmann. Wichmann suggested that Oshkosh may be considering a spinoff… Read More »
Exelis’ (XLS) board of directors recently approved the spinoff of its mission systems business, Vectrus and rumor is that Exelis’s parent company, ITT (ITT), is excited about becoming a grandparent despite the rather creative name choice. The spinoff will take place on September 27th to shareholders as of September 18th and the new company will trade on the NYSE under the ticker… Read More »
Exelis (XLS) is currently in the process of spinning off its government services business, Vectrus. The spin is expected to be completed sometime this summer and Barron’s ran a piece a few weeks ago suggesting that the parent company has a lot of upside at its current levels: The remaining company will be a pure-play defense electronics business, aligned… Read More »
The excitement level was high when Exelis (XLS) announced that it would create a new ‘brand’ for its upcoming military and government services spinoff. To better understand why, lets jump back a few years and remember how the name Exelis came about: ITT Exelis is an energetic name that is derived from the word “excel,” which is rooted… Read More »
A familiar name to readers of this site was leading the pack of top gainers for a bit last Thursday and the reason was a bit surprising. Exelis (XLS), a defense contractor freshly spun out of ITT (ITT), announced that it would pursue a spinoff of its own by separating its military and government services business into a standalone unit.… Read More »
We often mention how long the spinoff process can take. There are a lot of reasons for that including paperwork, but basically it isn’t easy to carve out a brand new entity. There is a lot of internal work and planning that needs to get done during that period to ensure a smooth transition. Nothing sexy and the… Read More »
While picking out a name for a newborn child is fun and exciting, it is also a really stressful decision. Everyone seems to have an opinion and it really will affect the child for the rest of his or her life (yes, I am talking about you Apple, Blue and Brooklyn). So I am sure it must challenging… Read More »
ITT’s(ITT) long awaited spinoffs, Xylem(XYL) and Exelis (XLS) are set to be distributed to shareholders on 10/31. Standard & Poor has announced that Xylem will take ITT’s place in the S&P 500 index. Both Exelis and ITT will join the S&P MidCap 400, replacing Eastman Kodak(EK) and Kindred Healthcare(KND). Lumos Holdings, being spun out of NTELOS(NTLS) on the… Read More »
One of my favorite and often overlooked parts of examining spinoffs is the choice of name for the new entity. Generally, this decision requires zero thought as there is a division or some well known product making the choice obvious, such as in the case of Madison Square Garden or Babcock & Wilcox (well…maybe that one isn’t the best example). However, occasionally management needs to flex its creative muscles (by which I mean hire some… Read More »