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Corporate divisions or spin-offs are allowed in many jurisdictions, but the Texas divisive merger is distinctive because it treats the division as a merger. [1] Notably, in a Texas two-step bankruptcy the parent company still maintains control over the spin-off by appointing its board and executives. [1]
Spin-off entity Transaction value (in billions USD) Inflation adjusted (in billions 2022 USD) Ref 1 2024 General Electric Company: GE Aerospace, GE Vernova, GE Healthcare: 191 191 [1] 2 2008 Altria Group: Philip Morris International: 108 141 [2] [3] 3 2000 BCE: Nortel: 60 97 [3] 4 2013 Abbott Laboratories: AbbVie: 56 67 [3] 5 2015 eBay: PayPal ...
2001 – Information Services Extended department, developer of specialized databases and software for telephone directory assistance, is spun off to form privately held company ISx, Inc (later sold to Local Matters). December 31, 2002 – IBM sells its HDD business to Hitachi Global Storage Technologies for approximately $2 billion.
In October 2016, certain subsidiaries of EFH, including TXU Energy, Luminant and EFH’s corporate services department, emerged from reorganization in a court-approved spin-off under parent company Texas Competitive Electric Holdings (TCEH), and a new CEO, Curt Morgan, was announced. Later in 2016, TCEH changed its name to Vistra Energy. [9]
Spin-offs occur when the equity owners of the parent company receive equity stakes in the newly spun off company. [6] For example, when Agilent Technologies was spun off from Hewlett-Packard (HP) in 1999, the stockholders of HP received Agilent stock. A company not considered a spin-off in the SEC's definition (but considered by the SEC as a ...
Pages in category "Corporate spin-offs" The following 200 pages are in this category, out of approximately 321 total. This list may not reflect recent changes .
[3] The company's colors of green and yellow were chosen based on then-CEO Paul Farr's love of the Green Bay Packers. [4] Today, the company's logo is simply black and white. On June 10, 2014, PPL announced that it would spin off its competitive energy business which would merge with Riverstone Holdings' operations to create Talen. [5]
In August 2013, the company distributed 100% of the shares in its retail marketing gasoline station chain, Murphy USA, to its shareholders via a corporate spin-off. [13] [14] In 2016, the company sold its 5% stake in Syncrude Canada Ltd., a joint venture located about 25 miles north of Fort McMurray, Alberta, for C$937 million. [15] In 2017 ...