Split-Off

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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 ?
In addition, the split off will result in an adjustment to the conversion rate for these notes based on the relative trading prices of FNF common stock and Cannae common stock, par value USD 0.0001 per share, over the 10 consecutive trading days following November 17, 2017.
Toshiba Corporation (the Company) today announced that it has decided to split off its four in-house companies into wholly-owned subsidiaries.
The memorandum details that its reorganization to split off part of the business meets all the requirements of a Type D tax-free reorganization under Sec.
Sunderland leader Paul Watson's comments last night indicate that the remaining four authorities - Sunderland, South Tyneside, Durham and Gateshead - are prepared to let the northern three split off.
Two of SABMiller's largest shareholders, Altria Group and Bevco, will be split off into a separate group from the rest of the brewing giant's shareholders when the deal goes to a vote on September 28.
The telecoms giant has faced calls for Openreach to be split off from the rest of the company.
TELECOMS giant BT should be forced to split off its Openreach network arm unless it addresses significant underinvestment and poor service, a report by MPs has warned.
The demonstrators had split off from the main rally Saturday.
According to The New York Times, the print division won't be saddled with any debt and, after being split off from the broadcasting division, will be able to acquire new media outlets that it could not have otherwise because of regulations.
Noted Marci Ryvicker, Wells Fargo Securities Senior Analyst : "CBS announces split off of CBSO 3+ Months Early!
She said that it is completely natural for icebergs to split off from glaciers in Antarctica, however this calving does shrink the Pine Island Glacier beyond its 30-year normal.
Third Point's Daniel Loeb has been pressuring Sony's board to split off its entertainment units into a separate public entity.