Some spinoffs are tiny, others are born big. AbbVie(ABBV) is a case of the latter. With a market cap of over $50 Billion, it begins life as a megacap when it spins off on January 2 from Abbott Laboratories(ABT) and thus replaces the sinking Dell(DELL) in the megacap S&P 100 Index. This was one of several index changes… Read More »
On Friday, Abbott(ABT) announced the effectiveness of the registration statement for its AbbVie(ABBV) spin. As we discussed previously, Abbott shareholders will get one AbbVie share for each Abbott share that they own. The new shares are to be distributed on January 1. Shares in the new company began trading on a when issued basis today, as did Abbott… Read More »
Abbott’s(ABT) spinoff of AbbVie(ABBV) passed its final hurdle yesterday as the Board approved the plan. Shareholders of Abbott at the close of business on December 12 will receive, on January 1, one share of AbbVie for each share of Abbott that they own. The shares are expected to begin trading on the ew York Stock Exchange on January… Read More »
Earlier this month, AbbVie (ABBV) completed a debt offering totaling $14.7 billion, making it the largest high grade offering in U.S history by over $1 billion and the largest of the year by nearly $5 billion. The offering was said to be hugely oversubscribed with word of $47 billion in orders. AbbVie, which will be spun off to… Read More »
After covering Kraft’s (poor) choice in naming its spinoff, we now move onto mocking examining Abbott’s (ABT) choice of the name AbbVie for its new pharmaceuticals company. Sadly, this now means that journalists will have to stop referring to the company as ‘Costello’ which would have been quite the humorous, although ill advised pick. The new name was… Read More »
Abbott Laboratories(ABT) is joining the parade and splitting itself into two. Like many other recent spinners, Abbott is a spinoff veteran, having spun off Hospira(HSP) in 2004. Though at times, even recently, Hospira has traded much higher, on the whole, returns for the two pieces 7 years later have been unimpressive. Hospira is now barely up 10%, and… Read More »