Split-Up

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Split-Up

An arrangement whereby a parent corporation transfers all of its assets to two or more corporations and then winds up its affairs.

When a split-up occurs, the shareholders of the parent corporation surrender the total amount of their stock in exchange for stock in the transferee corporation.

References in periodicals archive ?
A rising number of voices are calling for split-ups of corporate monoliths.
Cafcass says it gets involved in only about 10% of split-ups - and by the end of the process contact between fathers and their children increases.
But where there is sound preparation for school split-ups, with teachers and parents involved early on, the hoped-for results of more personal attention, fewer dropouts and higher academic achievement seem to be materializing.
The number of corporate split-ups came to 20 in the last fiscal year, the first year such data became available as companies were required to report such cases from April last year.
Former Home And Away soap star Fisher broke off her engagement to Day last month, in what seemed to be a repeat of his other high-profile split-ups with actresses.
There are a number of symptoms which are commonly associated with relationship split-ups.
If it is any consolation to Chung, however, two other public split-ups, the breakup of Woody Allen and Mia Farrow, and the separation of actors Tom Cruise and Mimi Rogers, were very closely followed by only 3% and 2% of the public, respectively, at the time.
corporations to foreign persons in certain otherwise tax-free spin-offs, split-ups, split-offs and liquidations of controlled subsidiaries.
The most high-profile split-ups involved Foreign Secretary Robin Cook who ditched wife Margaret after 28 years when he had an affair with secretary Gaynor Regan, whom he later married.
With the increasing incidence of spin-offs, split-ups, dropdowns and other reorganizations, corporations frequently face the issue of which entity is entitled to a deduction for equity-based or deferred compensation granted before the transaction but paid or vested after the transaction.