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A Reverse Morris Trust is used when a parent company has a subsidiary (sub-company) that it wants to sell in a tax-efficient manner. The parent company completes a spin-off of a subsidiary to the parent company's shareholders. Under Internal Revenue Code section 355, this could be tax-free if certain criteria are met. The former subsidiary (now ...
Kellogg is out with the new names of what will be two separate, publicly-traded, companies once it completes the spin-off of its North America cereal business.Its global snacking business, which ...
WK Kellogg Co [a] is an American food manufacturing company, split from Kellogg's on October 2, 2023, and headquartered in Battle Creek, Michigan. It was formed in October 2023 as part of Kellogg's spin-off of its North American cereal business.
The three types of corporate divisions are commonly known as spin-offs, split-offs and split-ups. The spin-off involves a distribution of property to shareholders without the surrender of any stock, which thus resembles a dividend. The split-off resembles a redemption because the shareholders have relinquished stock of the distributing corporation.
Kellogg Company announced on June 21 that its Board of Directors has approved a plan to separate its North American cereal and plant-based foods businesses into three spin-offs, to be "better...
Kellogg said it would spin off into separate companies its North America cereal unit and the plant-based business, for which it is also exploring options, including a sale.
On June 21, 2022, Kellogg's announced that the company would spin off its three cereal, snacks, and plant-based food divisions into separate companies. [38] [39] The North American cereal and plant-based food spin-off companies will keep Battle Creek as their headquarters and the new snack and international cereal company will be based in ...
Kellogg says the Kellanova name is meant to tie back to the heritage of the company while also signaling a new era of growth in a still-surging snacks industry. Shares of Kellanova fell 7% on the ...