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Spin-Off |
Also found in: Dictionary/thesaurus, Financial, Wikipedia | 0.02 sec. |
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The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. When a spin-off occurs, the shareholders of the parent corporation are not required to surrender any of their parent corporation stock in exchange for the subsidiary's stock. In the event that the distribution of stock to the parent corporation's shareholders amounts to a dividend, the distribution can be taxed pursuant to provisions of Income Tax statutes. |
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? References in periodicals archive |
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3 health column, "Universal Stays on Watch List Despite Cash From Spinoff," incorrectly implied that state regulators had already considered proceeds from Universal's proposed sale of a line of business in evaluating the company's financial health. Thursday at the Television Critics Association's press tour in Hollywood, NBC Entertainment president Jeff Zucker announced that a ``Friends'' spinoff starring Matt LeBlanc, titled ``Joey,'' would be on Thursday nights on its 2004-05 schedule. He led the company through the merger with Pharmacia & Upjohn, a subsequent intitial public offering, and the complete spinoff from Pharmacia Corporation. |
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spinoff
