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 ?
Discussing what bands should and shouldn't do, Jim Kerr, of Simple Minds, recalled a conversation with Coldplay's Chris Martin, telling us: "I said 'Don't split up.'" And then, with a wide smile, he added: "There will be millions of people watching this, saying 'Why did you tell him that?'" This was followed by gales of laughter.
In an interview, the former Coronation Street star admitted tabloid tales of her high living might have split up other couples.
Christina Aguilera has announced that she and her hubby Jordan Bratman have split up after five years of marriage.