spin off

MARATHON PETROLEUM $57 (New York symbol MPC; Resources sector; Shares outstanding: 506.3 million; Market cap: $28.9 billion; Takeover Target Rating: Lowest; Dividend yield: 2.8%; TSINetwork Rating: Average; www. marathonpetroleum.com) is a U.S. petroleum refining, marketing and transportation company based in Findlay, Ohio.

In November 2016, activist investor Elliott Management acquired a 4% stake in Marathon Petroleum and made several demands....

WYNDHAM WORLDWIDE $109 (New York symbol WYN; Consumer sector; Shares outstanding: 102.8 million; Market cap: $11.2 billion; Dividend yield: 2.1%; TSINetwork Rating: Extra Risk; Takeover Target Rating: Medium; www.wyndhamworldwide.com) plans to spin off its hotel business as Wyndham Hotel Group....

PFIZER INC. $36 (New York symbol PFE; Manufacturing & Industry sector; Shares outstanding: 6.0 billion; Market cap: $216.0 billion; Takeover Target Rating: Lowest; Dividend yield: 3.6%; TSINetwork Rating: Above Average; www.pfizer.com) is one of the world’s leading prescription drugmakers.

The company continues to conduct a strategic review of its consumer products division....

BAKER HUGHES, a GE co. $34 (New York symbol BHGE; Resources sector; Shares outstanding: 428.0 million; Market cap: $14.6 billion; Takeover Target Rating: Medium; Dividend yield: 2.0%; TSINetwork Rating: Average; www.bhge.com) is now one of the world’s largest oilfield-services firms.

The new c o m p a n y was formed in July 2017 when Baker H u g h e s merged with GE’s oil and gas business.

The deal combined GE’s data analytics and high-tech operations with Baker Hughes’ oilfield expertise....

Since the start of 2017, Macy’s is down nearly 40%, while Nordstrom has dipped 3%. Those declines are mainly because consumers are buying more goods online. That merchandise includes department store staples such as clothing, shoes and jewellery.

In response, both firms continue to expand their online businesses....

HONEYWELL INTERNATIONAL $138 (New York symbol HON; Manufacturing sector; Shares outstanding: 761.2 million; Market cap: $105.0 billion; Takeover Target Rating: Lowest; Dividend yield: 1.9%; TSINetwork Rating: Average; www.honeywell.com) is a diversified technology firm operating in four main segments: Aerospace (38% of sales); Home and B u i l d i n g (27%); Perf o r m a n c e Ma t e r i a l s (24%); and Safety and Productivity (11%).

Honeywell is now the target of activist investors, including the Third Point LLC hedge fund, led by Dan Loeb....

Huntsman came to our attention after announcing it would spin off its Venator subsidiary. The company’s plans have since changed, and instead of a spinoff, it used an IPO to sell shares in Venator. Huntsman now intends to merge with a Swiss chemical maker. We think the company’s new plans will still unlock considerable value for shareholders.

HUNTSMAN CORP....

Activist investors have a long history of pressuring large firms to boost shareholder value by spinning off businesses and aggressively cutting costs.

For example, Nelson Peltz, through his firm Trian Partners, has now targeted two of our long-term recommendations: General Electric and Procter & Gamble....

A: Less than two years after agreeing to merge, Dow Chemical and DuPont have received all regulatory approvals, with the combined company now trading on the New York exchange as DowDuPont, $68.50, symbol DWDP (Shares outstanding: 1.2 billion; Market cap: $155.2 billion; www.dow-dupont.com).

To satisfy regulators concerned about the possibility of anti-competitive behaviour after the merger, Dow and DuPont each had to sell certain assets.

DuPont was forced to divest itself of its market-leading Finesse herbicide and Rynaxpyr insecticide products; it sold them to a buyer approved by the U.S....

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Huntsman came to our attention after announcing it would spin off its Venator subsidiary....