After 31 rounds, the FCC’s AWS-3 auction has reached $36 Billion in bids. This has pushed up the value of Dish Network’s(DISH) shares, as the company already owns spectrum that, in the eyes of some analysts, is more valuable than what is currently being auctioned. In addition, TMF Associates identifies Dish as a major bidder in the current… Read More »
Late last month, Procter & Gamble(PG) announced that it would be divesting its Duracell business. At the time, its preferred outcome was to spin off the division to shareholders. The second step is the exit of the Duracell business. Although no decision has been made on the form of the exit, P&G’s current preference is a split-off of… Read More »
A subclass of spinoff that has proven popular, especially under activist pressure has been the spinoff of real estate assets into a publicly traded REIT. Civeo’s (CVEO) spin from Oil States (OIS) was one example, though the company has now opted against REIT status, as was Penn National Gaming’s (PENN) spin of Gaming & Leisure Properties (GLPI). Now,… Read More »
We wrote last week about Madison Square Garden Company’s(MSG) plan to explore a spinoff of its sports and entertainment business. The company is in the early stages of planning this transaction and there still remain many unanswered questions. Capital New York reports that CEO Tad Smith confirmed on last Friday’s earnings conference call that the company has not… Read More »
Crimson Wine Group (CWGL) dropped a 134 word bomb today with the news that as of November 3rd, CEO Erle Martin was ‘no longer an employee’ of the company. The company slipped the news in a brief 8K filed with the SEC and offered no additional details on the move, and issued no press release. The board is… Read More »
Kimberly-Clark (KMB) officially completed the spinoff of its health care business, Halyard Health (HYH). The new company began trading ‘regular way’ on the NYSE today under the ticker ‘HYH’ and Kimberly-Clark shareholders as of the date of record should have received 1 HYH share for every 8 KMB shares owned. While the parent company’s press release was pretty muted,… Read More »