Highlighting the Barron’s Roundtable’s spinoff picks is always one of our most popular pieces every year. Sadly, we missed it earlier this year, but Barron’s does publish a midyear check in every July. It’s not as comprehensive as the beginning of the year Roundtable gathering, but it still features some talk about the economy, predictions for the market… Read More »
July 4th week is a good time to catch up on some recent spinoff transactions. Last week Hertz (HTZ) completed the separation of its equipment rental business Herc Holdings (HRI). This one was a bit tricky mechanically and here is how the transaction went down: To effect the separation as part of a tax-free spinoff, Hertz Global Holdings stockholders as of… Read More »
Hertz (HTZ) first announced the idea of spinning off its rental equipment business back in March of 2014 after facing severe activist pressure. The plan was to have the equipment company pay a big dividend which would fund a large buyback at the parent. A few months later, the company even managed to settle its fight with Carl… Read More »