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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
* In a split-off, certain assets of a corporation are transferred to a newly created corporation in exchange for all of the new corporation's stock.
Comment: GE will sell a portion of the assets of GE Transportation to Wabtec; complete the spin-off or split-off of a portion of GE Transportation to GE shareholders; and immediately thereafter merge GE Transportation with a wholly owned subsidiary of Wabtec.
Following the split-off, there are approximately 105 million shares of GLIBA, 4.5 million shares of GLIBB, and 7.3 million shares of GLIBP outstanding, and former Liberty Ventures stockholders hold approximately 79% of the common equity of GCI Liberty and an approximate 83% voting interest in GCI Liberty based on shares outstanding as of closing.
Hence the values of the valence band offset, conduction band offset, and spin-orbit split-off band offset for the end point compounds InAs and InBi are found out to be 0.94 eV, -1.03 eV, and -0.87 eV, respectively.
The unit was established as a split-off of VS-21 as Air Antisubmarine Squadron 29 on 1 April 1960 at North Island, its home base throughout its service.
Completion of the transactions is also contingent on other conditions, including the receipt of a favorable ruling from the Internal Revenue Service that the split-off of Hughes from GM would be tax-free to GM and holders of GM Class H common stock for U.S.
Joint cost is the cost of raw materials and the processing cost incurred up to the point (split-off point) where the primary products and byproducts are separately identifiable.
The AAE is a split-off branch of the Communist Workers Party.
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.
In addition, post the split-off from MSG Networks (MSGN) in October 2015, investors no longer have to worry about cord-cutting or any other secular concern affecting linear cable networks.