Split-Off


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Related to Split-Off: spin-off

Split-Off

The process whereby a parent corporation organizes a subsidiary corporation to which it transfers part of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the shareholders of the parent corporation in exchange for a portion of their parent stock.

A split-off differs from a spin-off in that the shareholders in a split-off must relinquish their shares of stock in the parent corporation in order to receive shares of the subsidiary corporation whereas the shareholders in a spin-off need not do so.

References in periodicals archive ?
Following the split-off, there are approximately 105 million shares of GLIBA, 4.
Mike Fries, Executive Chairman of Liberty Latin America and CEO of Liberty Global, commented, "The split-off of our Latin American and Caribbean operations from Liberty Global will ensure that this new company will have access to the capital and resources necessary to achieve superior financial and strategic growth.
Regarding the third option, the Service concluded that a spin-off and a split-off are very similar transactions.
The total cost of each of the separate primary products includes (1) an allocated portion of the joint cost, and (2) the cost associated with the primary product after the split-off point.
2) Unless otherwise noted, the term "spin-off" includes, in addition to a pro-rata distribution of stock in a controlled corporation, a split-off (or non-pro rata redemption of the distributing corporation's shareholders for stock of the controlled corporation) and a split-up (or a distribution of multiple controlled corporations resulting generally in a liquidation of the distributing corporation.
The hardest stuff to hit EDS since the split-off from GM came last October, when Alberthal announced that the company's growth rate for both top-line revenues and net income would slow into the first quarter of 1997.
Under the terms of the definitive transaction agreements, Fortive will create a wholly-owned subsidiary to hold the A&S platform and will distribute ownership of that A&S subsidiary to Fortive shareholders in either a split-off or spin-off transaction, which will be followed by a merger of the A&S subsidiary with a subsidiary of Altra.
Liberty Latin America), a leading telecommunications company with operations in Chile, Puerto Rico, the Caribbean and other parts of Latin America, today announced the completion of its previously announced split-off from Liberty Global plc (Liberty Global) and its launch as an independent, publicly-traded company.
M2 EQUITYBITES-November 20, 2017-Fidelity National Financial, Cannae Holdings Complete Split-Off
TELECOMWORLDWIRE-July 10, 2015-Danaher announces split-off exchange ratio
On July 19, 2012, PPG announced that it would form a new company by separating its commodity chemicals business through a spinoff or split-off, and then immediately merging the business with Georgia Gulf or a Georgia Gulf subsidiary in a Reverse Morris Trust transaction.