spinoffs
A spinoff takes place when a company decides to get rid of a portion of its asset base, possibly because it wants to focus its activities elsewhere, but is unable to sell the assets for a price that it feels reflects their value. Instead, the parent company sets the assets up as a separate company, then hands out shares in that publicly listed firm to its current investors.
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Spinoffs are often seen as an effective way for a holding company to eliminate its “holding company discount.” That discount is usually evident in the stock price of a company that holds a variety of assets, or that invests in a number of businesses.
Given the diverse asset base of a holding company, investors often overlook, or discount, any holdings that comprise just a small part of its total assets....
Given the diverse asset base of a holding company, investors often overlook, or discount, any holdings that comprise just a small part of its total assets....
In 2000, the old Hewlett-Packard spun off its testing equipment business (Agilent). Since then, Agilent has completed two spinoffs of its own: Verigy (in 2006), a maker of computer chip testing gear; and Keysight (in 2014), focused on products for testing electronic equipment....
Some new corporate spinoffs are a target for value seekers, while new stock issues often pose problems
Dear Inner Circle member,
Now it’s “official”—the stock market has fallen by 10% from its peak, which means it has entered a correction phase. We’ll say more about that as needed.
For this week, we’ve prepared a special report on the spinoff of Fortive from its former parent company, Danaher.
That split supports our view on the value of spinoffs: in terms of investing, they are the closest thing you can find to a sure thing, regardless of market ups and downs....
Now it’s “official”—the stock market has fallen by 10% from its peak, which means it has entered a correction phase. We’ll say more about that as needed.
For this week, we’ve prepared a special report on the spinoff of Fortive from its former parent company, Danaher.
That split supports our view on the value of spinoffs: in terms of investing, they are the closest thing you can find to a sure thing, regardless of market ups and downs....
This week we’ve prepared a special report on the breakup/spinoff of the Hilton Hotels empire.
Our view is that spinoffs are the closest thing you can find to a sure thing in investing. That belief, in fact, led us to launch our new Spinoffs, Takeovers & Special Situations newsletter.
Study after study has shown that after an initial adjustment period, spinoffs tend to outperform comparable stocks for several years....
Our view is that spinoffs are the closest thing you can find to a sure thing in investing. That belief, in fact, led us to launch our new Spinoffs, Takeovers & Special Situations newsletter.
Study after study has shown that after an initial adjustment period, spinoffs tend to outperform comparable stocks for several years....
NOVARTIS AG (ADR) $87 (New York symbol NVS; Manufacturing & Industry sector; ADRs outstanding: 2.3 billion; Market cap: $200.1 billion; Takeover Target Rating: Lowest; Dividend yield: 3.1%; TSINetwork Rating: Above Average; www.novartis.com) is a Swiss-based company that researches, develops, manufactures, and markets a range of healthcare products worldwide.
Novartis has now hired an investment bank to review options for its dermatology business....
Novartis has now hired an investment bank to review options for its dermatology business....
Dear Inner Circle member,
This will be our last Inner Circle Q&A for 2017. Our next Q&A will go out on Wednesday, January 3, 2018. Now is a good time to say Thanks! to the many long-time friends, associates and kindred spirits who make up the membership of this unique organization....
This will be our last Inner Circle Q&A for 2017. Our next Q&A will go out on Wednesday, January 3, 2018. Now is a good time to say Thanks! to the many long-time friends, associates and kindred spirits who make up the membership of this unique organization....
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HILTON WORLDWIDE HOLDINGS $77 (New York symbol HLT; Consumer Sector; Shares outstanding: 321.0 million; Market cap: $24.7 billion; Takeover Target Rating: Low; Dividend yield 0.8%; TSINetwork Rating: Average; www.hiltonworldwide.com) owns, manages and franchises hotels under several brands, including Hilton, Waldorf Astoria, Doubletree and Embassy Suites by Hilton....
HILTON WORLDWIDE HOLDINGS $77 (New York symbol HLT; Consumer Sector; Shares outstanding: 321.0 million; Market cap: $24.7 billion; Takeover Target Rating: Low; Dividend yield 0.8%; TSINetwork Rating: Average; www.hiltonworldwide.com) owns, manages and franchises hotels under several brands, including Hilton, Waldorf Astoria, Doubletree and Embassy Suites by Hilton....