According to Bloomberg, Uber Technologies (UBER) is weighing up options to spin off its freight logistics business either in a sale or as a separate publicly traded company at a time when the company is doubling up efforts to grow its ride-hailing and food-delivery businesses.

Teck Resources Limited (TECK)announced  the reorganization of its business to separate Teck into two independent, publicly-listed companies: Teck Metals Corp. (“Teck Metals”) and Elk Valley Resources Ltd. (“EVR”).

• Teck Metals – a premier, growth-oriented producer of energy transition metals 
• Elk Valley Resources – a pure-play, high-margin steelmaking coal producer

Under the Transition Capital Structure, Teck Metals will receive quarterly payments consisting of Royalty payments and preferred share redemption amounts that will in aggregate equal 90% of EVR free cash flow. 

Teck shareholders of record as of the applicable distribution record date will receive common shares of EVR in proportion to their Teck shareholdings at an exchange ratio of 0.1 common share of EVR for each Teck share (or approximately 51.9 million total EVR common shares) and approximately $0.39 cash per share for an aggregate of $200 million in cash. Shareholders will be able to elect to maximize the amount of cash or common shares of EVR they receive, subject to proration, through a Dutch auction election process.

As part of the Separation, Teck will change its name to Teck Metals Corp. and continue to be listed on the Toronto and New York stock exchanges (“TSX” and “NYSE”). EVR has applied to have its common shares listed on the TSX.

Teck expects that the transaction will be completed in the second quarter of 2023. 

WISeKey International Holding (WKEY), a leading Swiss cybersecurity, AI and IoT company announced that, through a wholly-owned subsidiary, SEALSQ Corp, it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission to effect a partial spin-off of SEALSQ Corp.

SEALSQ is in the process of applying to have its Ordinary Shares listed on the Nasdaq Global Market under the ticker symbol "LAES".

According to Reuters, Banking and payments conglomerate Fidelity National Information Services (FIS) plans to pursue a tax-free spin-off of its merchant business, which processes payments for companies.

The spin-off will take several months to be completed, and FIS will also entertain any acquisition offers for the unit during this period.

Much of FIS's merchant business consists of Worldpay, which it bought for $43 billion in 2019. FIS expects the spin-off to be completed within the next 12 months.

February 13, 2023:  FIS Announces Plans to Spin Off Merchant Business Press Release

Western Digital (WDC) would spin off its flash business and merge it with Kioxia, creating a publicly traded company in the US, the people said

Baxter International Inc. (BAX), a leading global medtech company, announced a plan to spin off the company’s Renal Care and Acute Therapies global business units (GBUs) into an independent, publicly traded company.

Baxter expects to complete the proposed spinoff in 12 to 18 months

Safe & Green Holdings Corp. (SGBX) , announced that the company’s subsidiary, SGB Development Corp. has changed its name to Safe and Green Development Corporation, and that the company further intends to spin-off thirty percent of Safe and Green Development Corporation to the company’s stockholders, to form an independent, publicly traded company.

Jupiter Wellness (JUPW), announced that SRM Entertainment (SRM) has filed a registration statement with the Securities and Exchange Commission to separate the company from Jupiter Wellness. Upon completion of the spin-off, SRM and Jupiter Wellness will be two independent and separate public companies and Jupiter Wellness is expected to remain the majority shareholder of SRM.

Southwest Gas Holdings (SWX) determined it will pursue a spin-off of its wholly owned subsidiary, Centuri Group, to form a new independent publicly traded utility infrastructure services company.

BorgWarner (BWA), announced its intention to execute a tax-free spin-off of its Fuel Systems and Aftermarket segments into a separate, publicly traded company (“NewCo”).

Update(S):

February 14, 2023: BorgWarner(BWA): announces Brady Ericson as CEO, Chris Gropp as CFO, and PHINIA Inc. as company name for Proposed Fuel Systems and Aftermarket Segment Spin-Off.

CVR Energy, Inc. (CVI) announced that its board of directors has authorized CVR Energy’s management to explore a potential spin-off of its interests in its nitrogen fertilizer business, which is owned by CVR Energy through the general and limited partner interests it holds in CVR Partners, LP (UAN), a publicly traded limited partnership. 

Liberty Media Corporation (LSXMA) announced that its board of directors has authorized management to pursue a split-off of the Atlanta Braves and its associated real estate development project and the creation of a new Liberty Live Group tracking stock.

Lithium Americas Corp. (LAC) announces that, it intends to advance a reorganization that will result in the separation of its North American and Argentine business units into two independent public companies. The Separation will establish two separate companies that include:

An Argentina focused lithium company owning Lithium Americas’ current interest in its Argentine lithium assets, including the near-production Caucharí-Olaroz lithium brine project in Jujuy, Argentina; and

A North America focused lithium company (“Lithium Americas (NewCo)”) owning the Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass”) and the Company’s North American investments.

The execution plan currently provides for completion of the Separation by the end of 2023.

Alkermes plc (ALKS) announced approval by its Board of Directors to explore separating its commercial-stage neuroscience business and development-stage oncology business.

American Resources Corporation (AREC) announces plan to spin-off ReElement Technologies subsidiary into a standalone public company

Madison Square Garden Entertainment Corp. (MSGE) announced that it has confidentially submitted an initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission for the proposed spin-off of its traditional live entertainment and MSG Networks businesses.

Update(s):

January 13, 2023:

Madison Square Garden Entertainment Corp (MSGE) said  it would move forward with a previously proposed spinoff of its live entertainment business, which houses the iconic New York arena.

The tax-free spinoff, which is expected to be completed by the end of March, will give shareholders of MSG Entertainment a 67% economic interest in the new company.

The new company, which will include other venues such as Radio City Music Hall, the Beacon Theatre and the Chicago Theatre, will take on the name Madison Square Garden Entertainment Corp, while the existing company will be renamed MSG Sphere Corp.

February 16, 2023: Madison Square Garden Entertainment (MSGE) (to be renamed MSG Sphere Corp. following the spin-off) has filed a publicly available Form 10 Registration Statement with the U.S. Securities and Exchange Commission for the new live entertainment company, which would take on the name Madison Square Garden Entertainment Corp.

March 30, 2023: Madison Square Garden Entertainment Corp. (MSGE) announced that its board of directors has approved the spin-off of its traditional live entertainment business, which is expected to be completed on April 20th.

Investor presentation

Medtronic plc (MDT), a global leader in healthcare technology, announced its intention to pursue a separation of the company's combined Patient Monitoring and Respiratory Interventions businesses ("NewCo"), which are part of the company's Medical Surgical Portfolio.

The chief executive of Vale SA (VALE) said, the Brazilian iron ore miner is reconsidering a near-term spin-off of its base metals business and an eventual public listing.

Update(s):

February 8, 2023: According to Bloomberg, General Motors Co. (GM) is competing for a stake in Brazilian mining giant Vale SA’s base metals unit

Albertsons Cos. (ACI) is prepared to establish an Albertsons Cos. subsidiary (SpinCo). SpinCo would be spun-off to Albertsons Cos. shareholders immediately prior to merger closing and operate as a standalone public company. Kroger and Albertsons Cos. have agreed to work together to determine which stores would comprise SpinCo, as well as the pro forma capitalization of SpinCo.

 Worthington Industries, Inc. (WOR), a leading industrial manufacturing company, announced that its Board of Directors unanimously approved a plan to pursue a separation of the company’s Steel Processing business into a new public company. 

TotalEnergies (TTE) said it is looking to spin off its Canadian oil sands operations and list the new company on the Toronto Stock Exchange, as the assets do not fit with the French oil major's low-emissions strategy.

The proposal will be submitted to a vote at the supermajor’s annual general meeting in May 2023.

Inpixon (INPX), the Indoor Intelligence company,  announced it has signed a definitive merger agreement with KINS Technology Group, a publicly traded special purpose acquisition company (KINZ), for KINS to acquire Inpixon's enterprise apps business. 

The transaction will be structured as a business combination with Inpixon's newly formed subsidiary, CXApp Holding Corp., that is anticipated to result in Inpixon stockholders receiving shares in KINS valued at approximately $69 million. 

NCR Corporation (NCR), a leading enterprise technology provider to banks, retailers and restaurants, announced its Board of Directors has unanimously approved a plan to separate NCR into two independent, publicly traded companies

– one focused on digital commerce,

- ATM business

The separation is intended to be structured in a tax-free manner and is targeted for the end of 2023.

NCR Corporation (NCR), a leading enterprise technology provider to banks, retailers and restaurants, announced its Board of Directors has unanimously approved a plan to separate NCR into two independent, publicly traded companies

– one focused on digital commerce,

- ATM business

The separation is intended to be structured in a tax-free manner and is targeted for the end of 2023.

Danaher Corporation (DHR) announced its intention to separate its Environmental & Applied Solutions segment to create an independent, publicly traded company. The new company will be comprised of Danaher's Water Quality and Product Identification businesses and will be referred to as "EAS" until it is named at a later date.

The transaction is intended to be tax-free to Danaher shareholders and expected to be completed in the fourth quarter of 2023.

Update(s):

February 8, 2023: Danaher Corporation (DHR) announced that Veralto Corporation will be the name of the separate public company Danaher intends to create in the fourth quarter of 2023.

Novartis (NVS) plans to spin off its underperforming generics unit Sandoz to sharpen its focus on its patented prescription medicines, the Swiss group said on Thursday, acknowledging it had not received any formal offers for the business to date.

The transaction, which is anticipated to be generally tax-neutral for Novartis, is expected to be completed in the second half of next year, subject to market conditions

August 25, 2022: Investor presentation

Ecoark Holdings, (ZEST) announced the execution of a definitive agreement to divest its wholly-owned subsidiary, Banner Midstream Corp, via a reverse merger into the company, Enviro Technologies US, (EVTN). Enviro will issue 12,996,958 shares to Ecoark in exchange for 100% of the issued and outstanding common stock of Banner to result in a 70% retained ownership for Ecoark at closing. 

Update(s):

March 10, 2023: 

Ecoark Holdings, Inc. (ZEST)  announced its plan to rename the company to “BitNile Metaverse Inc.”, and change its stock ticker symbol to “BNMV”. 
The name and ticker symbol change are subject to regulatory approval and are expected to be completed within the next 10 trading days. The plan to change the company’s name and stock ticker are a planned next step after the Company’s recent acquisition of BitNile.com from Ault Alliance(AULT). 

March 21, 2023: Ecoark Holdings Changes its name to BitNile Metaverse (BNMV). The company’s ticker symbol will change from “ZEST” to “BNMV”. 

AMMO, Inc. (POWW), the owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance ammunition and components, announces that its Board of Directors has unanimously approved a plan to separate its ammunition and marketplace businesses into two independent publicly-traded companies.

Outdoor Online will be comprised of GunBroker.com and its related online businesses. Current AMMO Chairman & CEO, Fred Wagenhals, will assume the Chairman & CEO role in Outdoor Online. 

The second entity, Action Outdoor Sports, will retain the company’s current ammunition and munition components business

Investor Presentation

AMMO, Inc. (POWW), the owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance ammunition and components, announces that its Board of Directors has unanimously approved a plan to separate its ammunition and marketplace businesses into two independent publicly-traded companies.

Outdoor Online will be comprised of GunBroker.com and its related online businesses. Current AMMO Chairman & CEO, Fred Wagenhals, will assume the Chairman & CEO role in Outdoor Online. 

The second entity, Action Outdoor Sports, will retain the company’s current ammunition and munition components business

Investor Presentation

Update(s):

August 25, 2022: AMMO, Inc. (POWW) CEO provides letter to Shareholders highlighting the separation of its Ammunition and Marketplace segments into two independent publicly traded companies. Current AMMO (POWW) shareholders will retain their full shares in Outdoor Online, which will be the new name of that company. 

iStar (STAR) will spin off to iStar shareholders a new publicly traded entity ("SpinCo") that will own all of its remaining non-ground lease assets and $400 million of its SAFE shares, enabling iStar shareholders to participate in the orderly monetization of these assets over time. SpinCo will be managed by New Safehold in exchange for a management fee.

Press Release

Investor Presentation

Update(s):

March 17, 2023: iStar (STAR) announced that its Board of Directors has conditionally declared a pro rata distribution of 0.153 common shares of Star Holdings for each share of iStar common stock outstanding as of March 27, 2023, the record date for the distribution. 

iStar currently expects the distribution to be made before the open of trading on March 31, 2023.

MDU Resources Group, Inc. (MDU) announced that its board of directors has unanimously approved a plan to separate its wholly owned construction materials business, Knife River Corporation, from the company.  The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023.

Update(s):

March 10, 2023: MDU Resources Group (MDU: Knife River to be listed under ticker KNF on NYSE upon spinoff from MDU Resources. MDU Resources is on track to complete the spinoff of Knife River into an independent, publicly traded company in the second quarter of 2023.

Laboratory Corp. of America Holdings (LH) plans to spin off its unit focused on clinical drug trials, according to people familiar with the matter, a move that will create a new stand-alone company in the fast-growing contract-research sector.

Update(s):

February 09, 2023: Labcorp (LH) announced that the new company to be formed by the planned spin-off of its Clinical Development business will be known as Fortrea. Upon completion of the spin-off from Labcorp, Fortrea will operate as an independent, publicly traded global CRO that offers comprehensive drug and medical device development services.

3M Co (MMM) disclosed plans to spin off its healthcare business into a listed company, joining a raft of U.S. manufacturers looking to simplify their business and boost investor returns.

LiveOne (LVO), an award-winning, creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced its intention to spin-out its wholly owned subsidiary, PodcastOne, as a separate public company to be listed on a national exchange.

Kellogg Company (K) announced that its Board of Directors has approved a plan to separate its North American cereal and plant-based foods businesses, via tax-free spin-offs, resulting in three independent public companies, each better positioned to unlock their full standalone potential.

 - "Global Snacking Co." will be a leading company in global snacking, international cereal and noodles  and North America frozen breakfast

- "North America Cereal Co."  will be a leading cereal company in the U.S., Canada, and Caribbean

- "Plant Co." , will be a leading, pure-play plant-based foods company, anchored by the MorningStar Farms brand

The proposed spin-offs are intended to result in tax-free distributions of North America Cereal Co. and Plant Co. shares to Kellogg Company shareowners.  Shareowners would receive shares in the two spin-off entities on a pro-rata basis relative to their Kellogg holdings at the record date for each spin-off.

More details

Update(s):

September 28, 2022: Kellogg Company (K) announced additional appointments to the future leadership team of North America Cereal Co

Kellogg Company (K) appointed Norma Barnes-Euresti as Chief Legal Officer, Mike Christensen as Chief Human Resources Officer, Stacy Flathau as Chief Corporate Affairs Officer, Sarah Ludmer as Chief Wellbeing and ESG Officer and Bill Rex as Chief Information Officer

March 15, 2023: Kellogg Co's (K) global snacking business will be called "Kellanova" following the spin-off of its North American cereal unit.

Lionsgate (LGF-A) CEO Jon Feltheimer revealed details during an investor call on, May 26, about the company’s plans to spin off its Starz streaming unit by the end of the summer.

Update(s):

August 5, 2022: Lions Gate Entertainment Corp. (LGF-A) mentioned it’s likely to announce a deal to spin off or sell a piece of its Starz cable network in September, with potential partners also showing interest in the company’s film and TV studios.

Citius Pharmaceuticals, Inc. (CTXR), a late-stage biopharmaceutical company developing and commercializing first-in-class critical care products,  announced that it intends to split the Company's assets into two separate publicly-traded entities. 

Citius Pharmaceuticals, Inc. announces intention to Spinoff Late-Stage Oncology Asset, I/ONTAK, into a New Standalone Publicly Traded Company

Citius intends the spinoff to be accomplished through an initial public offering (IPO) and pro rata distribution of stock in the NewCo to Citius shareholders. 

The transactions are expected to be completed in the second half of calendar year 2022

Publicly traded Brookfield Asset Management Inc. (BAM) and distribute a 25% interest worth an estimated $20 billion to shareholders later this year, Bruce Flatt, chief executive, said in a letter

Update(s):

September 23, 2022: Brookfield (BAM) announced that its Board of Directors has unanimously approved the transaction for the public listing and distribution of a 25% interest in its asset management business, through Brookfield Asset Management Ltd. 

 Enveric Biosciences (ENVB), a neuroscience-focused biotechnology company developing next-generation, psychedelic-inspired mental health medicines, announced plans to transfer and spin-off its cannabinoid clinical development pipeline assets to a wholly-owned subsidiary, Acanna Therapeutics Inc., by way of dividend to Enveric shareholders.  

Aramark (ARMK) announced its plan to separate Aramark Uniform Services (AUS) into an independent, publicly traded company. The transaction is intended to be structured as a spin-off that is tax-free to Aramark and its stockholders. 

The Company currently expects the spin-off to occur by the end of fiscal 2023.

Investor Presentation

Vista Outdoor Inc. (VSTO) announced that its Board of Directors has unanimously approved a plan to separate its Outdoor Products and Sporting Products segments into two independent, publicly-traded companies. The Company expects to create these companies through a tax-free spin-off of its Outdoor Products segment to Vista Outdoor shareholders. 

Following the separation, the Company's Outdoor Products segment will be an industry-leading platform of outdoor brands including CamelBak, Bell, Giro, Camp Chef, Bushnell, Bushnell Golf, Foresight Sports, Stone Glacier and QuietKat. 

As an independent company, Sporting Products will continue to focus on ammunition categories through its renowned brands including Federal, Remington, CCI, Speer, Estate Cartridge and HEVI-Shot.

Update(s):

July 27, 2022: On May 5, 2022, Vista Outdoor Inc. (VSTO) announced that Board of Directors has unanimously approved preparations for the separation of our Outdoor Products and Sporting Products reportable segments into two independent, publicly-traded companies. During the three months ended June 26, 2022, they incurred costs associated with the planned separation, including advisory and legal fees. Given the nature of transaction costs, and differences in these amounts from one transaction to another, the company believes these costs are not indicative of ongoing operations of the company. They applied a blended tax rate of 25 percent.

Investor Presentation

Radware (RDWR), a leading provider of cyber security and application delivery solutions, announced the spinoff of its Cloud Native Protector business to form a new company called SkyHawk Security. 

Investor Presentation

Conduent Incorporated (CNDT), a business process services and solutions company, announced it is pursuing a separation of its Transportation business through either a sale or a spin-off.

Update(s):

July 19, 2022: Conduent Incorporated (CNDT), a business process services and solutions company, plans to report its second-quarter 2022 financial results on Tuesday, Aug. 2, after market close.

Crane Co. (CR), a diversified manufacturer of highly engineered industrial products, announced that its Board of Directors has unanimously approved a plan to pursue a separation into two independent, publicly-traded companies.  After the separation, Crane Co. will include the Aerospace & Electronics and Process Flow Technologies businesses.

Payment and Merchandising Technologies Business to Become “Crane NXT”.

Crane NXT's shares are expected to be listed on the NYSE under the ticker symbol “CXT”.

Separation Expected to be Completed Within Approximately 12 Months.

Update(s):

July 26, 2022:  Search process for Crane NXT CEO is underway, including evaluation of internal and external candidates.

December 15, 2022: Crane (CR) announced that it has filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission and is on track to complete the previously announced separation on April 3, 2023.

February 27, 2023: Crane Holdings, Co. (CR), a diversified manufacturer of highly engineered industrial products, announced that Christina Cristiano has been appointed Senior Vice President, Chief Financial Officer of Crane NXT. Spinoff is expected to occur on April 3, 2023.

March 20, 2023: Crane Holdings (CR), announced the signing of credit agreements that will provide an aggregate principal amount of $1.65 billion in new syndicated revolving credit and term loan facilities for Crane Company and Crane NXT. The new facilities are intended to support Crane’s previously announced plan to separate into two independent and simplified businesses, which we expect to complete on April 3, 2023.

Chairman and Chief Executive Officer of Spectrum Brands (SPB) David Maura mentioned they are currently considering possible scenarios for the combined business, which include, but are not limited to, a partial or complete spin-off to our shareholders, an initial public offering or a merger with an existing publicly traded entity. 

Ault Global Holdings, Inc. (DPW) a diversified holding company, announced its plan to split into two public companies by pursuing a spin-off of Ault Alliance to its stockholders.

Ault Alliance will continue its focus on the Company’s legacy businesses and more recently initiated operations, including lending and investing in the real estate and distressed asset spaces, among others, defense, and power solutions, including EV charging products.

Ault Global Holdings, Inc. to change its name to BitNile Holdings, Inc. and stock symbol to NILE by the end of 2021

Johnson & Johnson (JNJ) announced its intent to separate the Company’s Consumer Health business, creating a new publicly traded company.

Investor Presentation

Update(s):

August 24, 2022: Johnson & Johnson (JNJ) announced the appointment of Larry Merlo as Non-executive Chair Designate for the future, listed New Consumer Health Company’s Board of Directors. Merlo previously served as President and CEO of CVS Health

September 28, 2022: Johnson & Johnson (JNJ) announces Kenvue as the name for planned new consumer health company

January 4, 2023: Johnson & Johnson's (JNJ) consumer health unit Kenvue filed to be listed as an independent company, bringing the healthcare conglomerate a step closer to completing the biggest shakeup.

GE (GE) announced its plan to form three industry-leading, global public companies focused on the growth sectors of aviation, healthcare, and energy. Following the split, it will become an aviation company, helmed by Culp. The aviation company will inherit GE's other assets and liabilities, including its runoff insurance business.

Investor presentation

Update(s):

November 15, 2021: GE Aviation is ready to look at acquisitions to top up its portfolio with technologies that could help it shape the future of flight, without waiting for a planned break-up of its parent General Electric Co (GE).

GE (GE) announced its plan to form three industry-leading, global public companies focused on the growth sectors of aviation, healthcare, and energy by
combining GE Renewable Energy, GE Power, and GE Digital into one business, positioned to lead the energy transition, and then pursuing a tax-free spin-off of this business in early 2024.

Investor presentation

Teck Resources Ltd. (TECK) is exploring options for its metallurgical coal business, including a sale or spinoff that could value the unit at as much as $8 billion

Ecoark Holdings, Inc. (ZEST), announced its plan to spin-off its subsidiary, Trend Discovery Holdings LLC, and its subsidiaries into a new independent publicly-traded company through a pro rata distribution of Trend’s common stock to Ecoark’s shareholders.

Update(s):

March 21, 2023: Ecoark Holdings Changes its name to BitNile Metaverse (BNMV). The company’s ticker symbol will change from “ZEST” to “BNMV”. 

June 10, 2021: SK Telecom (SKM) announced that the Board of Directors approved the plan to split the company into SK Telecom and SKT Investment (new entity, tentatively named) through a horizontal spin-off.

Press Release

Investor Presentation

Update(s):

August 11, 2021: SKT (SKM) is taking necessary steps to split the company into a surviving company based on telecommunications, AI and digital infrastructure and a new investment company specialized in semiconductor and ICT. The spin-off is expected to be finalized through the General Shareholders Meeting to be held on October 12, 2021.

August 17, 2021: SK Telecom (SKM) announced that the name of the new company to be established through a horizontal spin-off has been decided as “SK Square.” The surviving company will keep its current name SK Telecom. SK Telecom is expected to officially split into SK Telecom and SK Square on November 1, 2021.

November 01, 2021: SK Telecom (SKM) held a Board of Directors Meeting at its headquarters and announced that Ryu Young-sang, has been appointed as its new CEO.

November 26, 2021: SK Squareband One Store, a company included in the investment portfolio of SK Square, announced that they applied for a preliminary review of their IPO plan for listing One Store on KOSPI by the first half of next year.

June 08, 2021: Honeywell International Inc. (HON) plans to spin off its quantum computing business and merge it with a software firm to form a new company that is likely to trade publicly.

Update(s):

July 21, 2021: Honeywell (HON) and Cambridge Quantum announced in June they are combining to form the world's largest, stand-alone quantum computing company. Closing of the combination transaction remains subject to regulatory review and customary closing conditions.

November 30, 2021: Honeywell (HON) announced  that Honeywell Quantum Solutions (HQS) and Cambridge Quantum (CQ), two global leaders in quantum computing and technology, received regulatory approval and completed the previously announced business combination.

May 10, 2021: Wynn Resorts, Limited (WYNN) and Austerlitz Acquisition Corporation I announced that they have entered into a definitive agreement under which Austerlitz I will combine with Wynn Interactive Ltd., a subsidiary of Wynn Resorts, to create an independent public company. Upon closing of the proposed transaction, the combined company will retain the “Wynn Interactive, Ltd.” name and relist its shares on the Nasdaq Stock Exchange under the new ticker symbol “WBET.”

The ODP Corporation (ODP) office supply retailing company, announced today that its Board of Directors has unanimously approved a plan to pursue a separation of the Company into two independent, publicly-traded companies.

Press Release

Update(s):

June 4, 2021: The ODP Corporation (ODP), through an integrated B2B distribution platform with an online presence confirmed that its Board of Directors has received a proposal from USR Parent, Inc. (“Staples”), the parent company of Staples and a portfolio company of Sycamore Partners, to acquire the Company’s consumer business for $1 billion in cash.

August 4, 2021: The Company has modified its plan for the separation to be structured as a tax-free spin-off of the Company’s consumer business, with the Company retaining its B2B related operations.

August 24, 2021:  The ODP Corporation (ODP) Announces officedepot.com, will be spun-off and will be named Office Depot, Inc. Kevin Moffitt, currently EVP, Chief Retail Officer of The ODP Corporation, will be appointed CEO of Office Depot upon completion of the spin-off.

January 14, 2022: The ODP Corporation (ODP), announced that its Board of Directors determined to delay the previously announced public company separation to evaluate a potential sale of the Company’s consumer business

May 4, 2022: Office Depot owner close to decision on sale of retail business 'Operationally, we’ll keep our heads down and focused on continuing to drive strong execution while making progress on the strategic evaluation of our consumer business, working to bring that process to a close in the near term,’ says ODP CEO Jerry Smith.

April 8, 2021: CommScope Holding Company, Inc. (COMM), a global leader in connectivity solutions for communications networks, announced its plan to spin-off its Home Networks business and other initiatives to reduce operating costs throughout the Company.

Investor Presentation

Update(s):

May 6, 2021: Announced plan to spin-off Home Networks business on track.

August 5, 2021: Planned spin-off progressing; on track to complete spin-off during second quarter 2022.

February 17, 2022: Planned spin-off of Home Networks business delayed due to supply chain constraints.

Lennar Corp said it plans to spin-off all or parts of ongoing businesses to become a pure-play homebuilder and financial services company.

Update(s):

March 17, 2022: Stuart Miller - Executive Chairman mentioned during earning call that they have Filed confidential Form 10 filing in February.? Also added, Given the choppiness of the capital markets and the work that is still being completed, we're pushing our expectations for the actual execution to the third or fourth quarter of this year.

October 27, 2020: SPI Energy (SPI) announced that its Board of Directors has approved the Company's plan to spin off its Solar Juice subsidiary through an initial public offering.

May 18, 2021: SPI Energy Co., Ltd. (SPI), a global renewable energy company and provider of solar storage and electric vehicle solutions for business, residential, government, logistics, and utility customers and investors, announced the appointment of Ning “Clare” Cai as its Chief Financial Officer of the Company’s SolarJuice Co., Ltd. (“Solarjuice”) subsidiary.

October 26, 2020: American International Group (AIG) announced its intention to separate its Life & Retirement business from AIG.

Update(s):

December 9, 2020: AIG Life & Retirement, a division of American International Group Inc. (AIG), announced that Todd Solash, Chief Executive Officer of its Individual Retirement business, will take on an expanded role with the additional leadership of the company’s Life Insurance business.

July 14, 2021: American International Group, Inc. (AIG) and Blackstone (BX) announced that they have reached a definitive agreement for Blackstone to acquire a 9.9% equity stake in AIG’s Life & Retirement business for $2.2 billion in an all cash transaction.

November 2, 2021: American International Group, Inc. (AIG) and Blackstone (BX) announced that the previously disclosed transaction for Blackstone to acquire a 9.9% equity stake in AIG’s Life & Retirement business and for Blackstone to manage an initial $50 billion of Life & Retirement’s existing investment portfolio has closed.

March 28, 2022: American International Group, Inc. (AIG) announced Directors for the Board of Directors of Corebridge Financial, Inc. as it continues to prepare its Life & Retirement business to be a standalone company.

March 28, 2022: American International Group, Inc. (AIG) announced that it plans to rebrand SAFG Retirement Services, Inc., the parent company of its Life & Retirement business, as Corebridge Financial, Inc. when it becomes a public company.

March 28, 2022: American International Group Inc. filed for an initial public offering of its life and retirement arm, one of the final steps in a years-long effort to simplify the sprawling insurer.

April 11, 2022:  American International Group, Inc. (AIG) announced that Sabra Purtill, has been appointed Executive Vice President and Chief Investment Officer for its Life & Retirement business, effective immediately.

August 26, 2020: PDL BioPharma (PDLI) announced that its majority owned medical device subsidiary, LENSAR, has filed a registration statement on Form 10 with the Securities and Exchange Commission relating to a potential spin-off of LENSAR from PDL. In the event the spin-off is consummated, LENSAR has applied to list shares of its common stock on the NASDAQ stock market under the ticker symbol “LNSR.”

July 29, 2020: Auryn Resources (AUG) and Eastmain Resources announced that they have entered into a definitive agreement pursuant to which Auryn will acquire all of the issued and outstanding shares of Eastmain, immediately following a spin out of Auryn’s Peruvian projects to Auryn shareholders and completion of a concurrent financing. The Transaction will create Fury Gold Mines Limited and two independent spin-out entities - “SpinCo Sombrero” consisting of the Sombrero project and “SpinCo Curibaya” consisting of the Curibaya and Huilacollo projects.

July 29, 2020: Auryn Resources (AUG) and Eastmain Resources announced that they have entered into a definitive agreement pursuant to which Auryn will acquire all of the issued and outstanding shares of Eastmain, immediately following a spin out of Auryn’s Peruvian projects to Auryn shareholders and completion of a concurrent financing. The Transaction will create Fury Gold Mines Limited and two independent spin-out entities - “SpinCo Sombrero” consisting of the Sombrero project and “SpinCo Curibaya” consisting of the Curibaya and Huilacollo projects.

July 17, 2020: The board of directors of HD Supply Holdings (HDS) has approved the spinoff to stockholders of our White Cap Construction & Industrial business unit. White Cap is a leading distributor of specialty concrete and construction products and services in North America serving professional contractors. Its common stock will be listed on The Nasdaq Stock Market under the symbol "WCAP." Following completion of the spinoff, HD Supply common shares will continue to trade on NASDAQ under the symbol "HDS" and HD Supply will continue to operate its Facilities Maintenance business unit.

June 17, 2020: BBX Capital Corporation (BBX) announced its intention to spin off its subsidiary, BBX Capital Florida LLC (“New BBX Capital”), in order to separate the business, activities and investments of the Company into two separate, publicly-traded companies: (i) the Company, which will continue to hold its investment in Bluegreen Vacations Corporation (“Bluegreen Vacations”), a leading vacation ownership company that markets and sells vacation ownership interests and manages resorts in popular leisure and urban destinations, and (ii) New BBX Capital, which will continue to hold or will hold at the time of the spin-off all of the Company’s other businesses and investments, including BBX Capital Real Estate LLC, BBX Sweet Holdings, LLC and Renin Holdings, LLC. As a result of the spin-off, the Company will cease to have any ownership interest in New BBX Capital and will become a “pure-play” Bluegreen Vacations holding company.

February 2, 2020: L Brands (LB) and Sycamore Partners announced a strategic transaction by positioning Bath & Body Works standalone public company and separating Victoria’s Secret into a privately-held entity.

May 5, 2020: L Brands (LB) announced that it had reached an agreement with New York-based private equity firm Sycamore Partners to cancel the sale of a 55% stake in Victoria's Secret. In a statement, L Brands said it would continue to prepare Victoria's Secret to spin off as a private, standalone company. In the meantime, it says it will go forward with a plan to be centered on Bath & Body Works, which has been its faster-growing brand.

May 11, 2021: L Brands, Inc. (LB) announced its Board of Directors has unanimously approved a plan to separate the company into two independent, public companies: Bath & Body Works, one of the world’s leading bath, body and home fragrance retailers, and Victoria’s Secret, including Victoria’s Secret Lingerie, PINK and Victoria’s Secret Beauty, a leading retailer of intimates and beauty products.

July 09, 2021: L Brands, Inc. (LB) announced that its Board of Directors approved a name change from L Brands, Inc. to Bath & Body Works, Inc. L Brands’ stock symbol will also change from “LB” to “BBWI.” The Name Change is expected to become effective on August 2, 2021, in connection with the separation. L Brands’ common stock is expected to start trading under the new stock symbol on August 3, 2021.

November 27, 2019: Telefónica S.A. (TEF) to Spin Off Hispanoamerica Business as Part of Action Plan.

November 7, 2019: Nielsen Holdings (NLSN) announced the completion of its strategic review and its plan to spin-off the company's Global Connect business, creating two independent, publicly traded companies—the Global Media business and the Global Connect business—each of which will have sharper strategic focus and greater opportunity to leverage its unique competitive advantages. Nielsen currently expects the spin-off transaction to be completed in nine to twelve months

October 31, 2019: Marathon Petroleum Corporation (MPC) announced its intention to separate Speedway into an independent, publicly traded company.

Update(s):

January 13, 2021: TechnipFMC's CFO to leave for Marathon Petroleum role ahead of spinoff

September 24, 2019: HD Supply Holdings (HDS) announced its intention to separate its Facilities Maintenance and Construction & Industrial businesses into two independent publicly traded companies through a distribution, which is expected to be tax-free to HD Supply shareholders for U.S. tax purposes. The separation is expected to be completed by the middle of fiscal 2020.

March 30, 2020: HD Supply Holdings (HDS) announced that due to materially changing market conditions caused by the COVID-19 pandemic, the previously announced timeline for the separation of its two businesses had been impacted. The Company remains committed to the separation of the two businesses and the strategic rationale is unchanged. The Company is continuing its preparations for separation when the markets sufficiently recover.

July 24, 2019: Tenet Healthcare Corporation (THC) announced its intention to pursue a tax-free spin-off of its Conifer business as a separate, independent publicly traded company. The company expects to complete the spin-off by the end of the second quarter of 2021.

December 1, 2020:  Tenet Healthcare Corporation (THC) announced the appointment of J. Roger Davis as President and Chief Executive Officer of its Conifer Health Solutions subsidiary, effective immediately.

April 10, 2021: Tenet Healthcare Corporation (THC) announced its intention to pursue a tax-free spin-off of its Conifer business as a separate, independent publicly traded company.

The company expects to complete the spin-off by the end of the second quarter of 2021.

November 27, 2018: DPW Holdings (DPW) announced that its Board of Directors has authorized the officers of DPW to pursue a spinoff of DPW’s wholly-owned subsidiary Super Crypto Mining, Inc.

January 2018: DPW formed Super Crypto Mining, Inc., a wholly-owned subsidiary, which recently changed its name to Digital Farms, Inc. (“DFI”). DFI was established to operate their newly formed cryptocurrency business, which is pursuing a variety of digital currency. They mine the top three cryptocurrencies for their own account. These cryptocurrencies include Bitcoin, Litecoin and Ethereum.

January 5, 2021: DPW Holdings (DPW), announced that it will, effective January 18, 2021, change its name to Ault Global Holdings, Inc. No approval of the Company’s stockholders is required for the Name Change. The Company’s shares will remain traded on the NYSE American under its current ticker symbol “DPW.”

August 9, 2018: Perrigo Company (PRGO) announced that its Board of Directors approved a plan to separate the Company's Prescription Pharmaceuticals (Rx) business following the Company's previously announced strategic portfolio review.

April 10, 2018: Tenneco (TEN) announced that it has signed a definitive agreement to acquire Federal-Mogul. Federal-Mogul is being acquired from Icahn Enterprises L.P. for a total consideration of $5.4 billion to be funded through cash, Tenneco equity and assumption of debt. Tenneco also announced its intention to separate the combined businesses into two independent, publicly traded companies through a tax-free spin-off to shareholders that will establish an aftermarket & ride performance company and a powertrain technology company. The acquisition is expected to close in the second half of 2018, subject to regulatory and shareholder approvals and other customary closing conditions, with the separation occurring in the second half of 2019.

During the Q2 2020 conference call Brian Kesseler announced the separation has been delayed due to pandemic.

April 10, 2018: Tenneco (TEN) announced that it has signed a definitive agreement to acquire Federal-Mogul. Federal-Mogul is being acquired from Icahn Enterprises L.P. for a total consideration of $5.4 billion to be funded through cash, Tenneco equity and assumption of debt. Tenneco also announced its intention to separate the combined businesses into two independent, publicly traded companies through a tax-free spin-off to shareholders that will establish an aftermarket & ride performance company and a powertrain technology company.

The acquisition is expected to close in the second half of 2018, subject to regulatory and shareholder approvals and other customary closing conditions, with the separation occurring in the second half of 2019.

Update(s):

February 15, 2019: Tenneco (TEN) announced that DRiV Incorporated will be the name of the future publicly traded Aftermarket and Ride Performance company that will launch in the second half of this year, following Tenneco’s separation into two independent companies.

January 7, 2020: Tenneco Inc. (TEN) announced current end-market conditions are affecting the Company's ability to complete a separation in the mid-year 2020 time range. 

 January 27, 2020: Tenneco Inc. (TEN) reconfirmed that it has been reviewing strategic alternatives to maximize shareholder value. In consultation with its advisors, Tenneco is reviewing and considering, in addition to the current plan to spin off the Company's Aftermarket and Ride Performance business ("DRiV"), a full range of strategic options including the sale of DRiV and/or the Company's Powertrain Technology business.

During the Second quarter 2020 conference call Brian Kesseler announced the separation has been delayed due to pandemic.

February 26, 2018: Deutsche Bank (DB) is poised to take the most tangible step so far in its reorganization with the stock market spinoff of its DWS fund management group as early as next month.

According to Bloomberg, Uber Technologies (UBER) is weighing up options to spin off its freight logistics business either in a sale or as a separate publicly traded company at a time when the company is doubling up efforts to grow its ride-hailing and food-delivery businesses.

Teck Resources Limited (TECK)announced  the reorganization of its business to separate Teck into two independent, publicly-listed companies: Teck Metals Corp. (“Teck Metals”) and Elk Valley Resources Ltd. (“EVR”).

• Teck Metals – a premier, growth-oriented producer of energy transition metals 
• Elk Valley Resources – a pure-play, high-margin steelmaking coal producer

Under the Transition Capital Structure, Teck Metals will receive quarterly payments consisting of Royalty payments and preferred share redemption amounts that will in aggregate equal 90% of EVR free cash flow. 

Teck shareholders of record as of the applicable distribution record date will receive common shares of EVR in proportion to their Teck shareholdings at an exchange ratio of 0.1 common share of EVR for each Teck share (or approximately 51.9 million total EVR common shares) and approximately $0.39 cash per share for an aggregate of $200 million in cash. Shareholders will be able to elect to maximize the amount of cash or common shares of EVR they receive, subject to proration, through a Dutch auction election process.

As part of the Separation, Teck will change its name to Teck Metals Corp. and continue to be listed on the Toronto and New York stock exchanges (“TSX” and “NYSE”). EVR has applied to have its common shares listed on the TSX.

Teck expects that the transaction will be completed in the second quarter of 2023. 

WISeKey International Holding (WKEY), a leading Swiss cybersecurity, AI and IoT company announced that, through a wholly-owned subsidiary, SEALSQ Corp, it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission to effect a partial spin-off of SEALSQ Corp.

SEALSQ is in the process of applying to have its Ordinary Shares listed on the Nasdaq Global Market under the ticker symbol "LAES".

According to Reuters, Banking and payments conglomerate Fidelity National Information Services (FIS) plans to pursue a tax-free spin-off of its merchant business, which processes payments for companies.

The spin-off will take several months to be completed, and FIS will also entertain any acquisition offers for the unit during this period.

Much of FIS's merchant business consists of Worldpay, which it bought for $43 billion in 2019. FIS expects the spin-off to be completed within the next 12 months.

February 13, 2023:  FIS Announces Plans to Spin Off Merchant Business Press Release

Western Digital (WDC) would spin off its flash business and merge it with Kioxia, creating a publicly traded company in the US, the people said

Baxter International Inc. (BAX), a leading global medtech company, announced a plan to spin off the company’s Renal Care and Acute Therapies global business units (GBUs) into an independent, publicly traded company.

Baxter expects to complete the proposed spinoff in 12 to 18 months

Safe & Green Holdings Corp. (SGBX) , announced that the company’s subsidiary, SGB Development Corp. has changed its name to Safe and Green Development Corporation, and that the company further intends to spin-off thirty percent of Safe and Green Development Corporation to the company’s stockholders, to form an independent, publicly traded company.

Jupiter Wellness (JUPW), announced that SRM Entertainment (SRM) has filed a registration statement with the Securities and Exchange Commission to separate the company from Jupiter Wellness. Upon completion of the spin-off, SRM and Jupiter Wellness will be two independent and separate public companies and Jupiter Wellness is expected to remain the majority shareholder of SRM.

Southwest Gas Holdings (SWX) determined it will pursue a spin-off of its wholly owned subsidiary, Centuri Group, to form a new independent publicly traded utility infrastructure services company.

BorgWarner (BWA), announced its intention to execute a tax-free spin-off of its Fuel Systems and Aftermarket segments into a separate, publicly traded company (“NewCo”).

Update(S):

February 14, 2023: BorgWarner(BWA): announces Brady Ericson as CEO, Chris Gropp as CFO, and PHINIA Inc. as company name for Proposed Fuel Systems and Aftermarket Segment Spin-Off.

CVR Energy, Inc. (CVI) announced that its board of directors has authorized CVR Energy’s management to explore a potential spin-off of its interests in its nitrogen fertilizer business, which is owned by CVR Energy through the general and limited partner interests it holds in CVR Partners, LP (UAN), a publicly traded limited partnership. 

Liberty Media Corporation (LSXMA) announced that its board of directors has authorized management to pursue a split-off of the Atlanta Braves and its associated real estate development project and the creation of a new Liberty Live Group tracking stock.

Lithium Americas Corp. (LAC) announces that, it intends to advance a reorganization that will result in the separation of its North American and Argentine business units into two independent public companies. The Separation will establish two separate companies that include:

An Argentina focused lithium company owning Lithium Americas’ current interest in its Argentine lithium assets, including the near-production Caucharí-Olaroz lithium brine project in Jujuy, Argentina; and

A North America focused lithium company (“Lithium Americas (NewCo)”) owning the Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass”) and the Company’s North American investments.

The execution plan currently provides for completion of the Separation by the end of 2023.

Alkermes plc (ALKS) announced approval by its Board of Directors to explore separating its commercial-stage neuroscience business and development-stage oncology business.

American Resources Corporation (AREC) announces plan to spin-off ReElement Technologies subsidiary into a standalone public company

Madison Square Garden Entertainment Corp. (MSGE) announced that it has confidentially submitted an initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission for the proposed spin-off of its traditional live entertainment and MSG Networks businesses.

Update(s):

January 13, 2023:

Madison Square Garden Entertainment Corp (MSGE) said  it would move forward with a previously proposed spinoff of its live entertainment business, which houses the iconic New York arena.

The tax-free spinoff, which is expected to be completed by the end of March, will give shareholders of MSG Entertainment a 67% economic interest in the new company.

The new company, which will include other venues such as Radio City Music Hall, the Beacon Theatre and the Chicago Theatre, will take on the name Madison Square Garden Entertainment Corp, while the existing company will be renamed MSG Sphere Corp.

February 16, 2023: Madison Square Garden Entertainment (MSGE) (to be renamed MSG Sphere Corp. following the spin-off) has filed a publicly available Form 10 Registration Statement with the U.S. Securities and Exchange Commission for the new live entertainment company, which would take on the name Madison Square Garden Entertainment Corp.

March 30, 2023: Madison Square Garden Entertainment Corp. (MSGE) announced that its board of directors has approved the spin-off of its traditional live entertainment business, which is expected to be completed on April 20th.

Investor presentation

Medtronic plc (MDT), a global leader in healthcare technology, announced its intention to pursue a separation of the company's combined Patient Monitoring and Respiratory Interventions businesses ("NewCo"), which are part of the company's Medical Surgical Portfolio.

The chief executive of Vale SA (VALE) said, the Brazilian iron ore miner is reconsidering a near-term spin-off of its base metals business and an eventual public listing.

Update(s):

February 8, 2023: According to Bloomberg, General Motors Co. (GM) is competing for a stake in Brazilian mining giant Vale SA’s base metals unit

Albertsons Cos. (ACI) is prepared to establish an Albertsons Cos. subsidiary (SpinCo). SpinCo would be spun-off to Albertsons Cos. shareholders immediately prior to merger closing and operate as a standalone public company. Kroger and Albertsons Cos. have agreed to work together to determine which stores would comprise SpinCo, as well as the pro forma capitalization of SpinCo.

 Worthington Industries, Inc. (WOR), a leading industrial manufacturing company, announced that its Board of Directors unanimously approved a plan to pursue a separation of the company’s Steel Processing business into a new public company. 

TotalEnergies (TTE) said it is looking to spin off its Canadian oil sands operations and list the new company on the Toronto Stock Exchange, as the assets do not fit with the French oil major's low-emissions strategy.

The proposal will be submitted to a vote at the supermajor’s annual general meeting in May 2023.

Inpixon (INPX), the Indoor Intelligence company,  announced it has signed a definitive merger agreement with KINS Technology Group, a publicly traded special purpose acquisition company (KINZ), for KINS to acquire Inpixon's enterprise apps business. 

The transaction will be structured as a business combination with Inpixon's newly formed subsidiary, CXApp Holding Corp., that is anticipated to result in Inpixon stockholders receiving shares in KINS valued at approximately $69 million. 

NCR Corporation (NCR), a leading enterprise technology provider to banks, retailers and restaurants, announced its Board of Directors has unanimously approved a plan to separate NCR into two independent, publicly traded companies

– one focused on digital commerce,

- ATM business

The separation is intended to be structured in a tax-free manner and is targeted for the end of 2023.

NCR Corporation (NCR), a leading enterprise technology provider to banks, retailers and restaurants, announced its Board of Directors has unanimously approved a plan to separate NCR into two independent, publicly traded companies

– one focused on digital commerce,

- ATM business

The separation is intended to be structured in a tax-free manner and is targeted for the end of 2023.

Danaher Corporation (DHR) announced its intention to separate its Environmental & Applied Solutions segment to create an independent, publicly traded company. The new company will be comprised of Danaher's Water Quality and Product Identification businesses and will be referred to as "EAS" until it is named at a later date.

The transaction is intended to be tax-free to Danaher shareholders and expected to be completed in the fourth quarter of 2023.

Update(s):

February 8, 2023: Danaher Corporation (DHR) announced that Veralto Corporation will be the name of the separate public company Danaher intends to create in the fourth quarter of 2023.

Novartis (NVS) plans to spin off its underperforming generics unit Sandoz to sharpen its focus on its patented prescription medicines, the Swiss group said on Thursday, acknowledging it had not received any formal offers for the business to date.

The transaction, which is anticipated to be generally tax-neutral for Novartis, is expected to be completed in the second half of next year, subject to market conditions

August 25, 2022: Investor presentation

Ecoark Holdings, (ZEST) announced the execution of a definitive agreement to divest its wholly-owned subsidiary, Banner Midstream Corp, via a reverse merger into the company, Enviro Technologies US, (EVTN). Enviro will issue 12,996,958 shares to Ecoark in exchange for 100% of the issued and outstanding common stock of Banner to result in a 70% retained ownership for Ecoark at closing. 

Update(s):

March 10, 2023: 

Ecoark Holdings, Inc. (ZEST)  announced its plan to rename the company to “BitNile Metaverse Inc.”, and change its stock ticker symbol to “BNMV”. 
The name and ticker symbol change are subject to regulatory approval and are expected to be completed within the next 10 trading days. The plan to change the company’s name and stock ticker are a planned next step after the Company’s recent acquisition of BitNile.com from Ault Alliance(AULT). 

March 21, 2023: Ecoark Holdings Changes its name to BitNile Metaverse (BNMV). The company’s ticker symbol will change from “ZEST” to “BNMV”. 

AMMO, Inc. (POWW), the owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance ammunition and components, announces that its Board of Directors has unanimously approved a plan to separate its ammunition and marketplace businesses into two independent publicly-traded companies.

Outdoor Online will be comprised of GunBroker.com and its related online businesses. Current AMMO Chairman & CEO, Fred Wagenhals, will assume the Chairman & CEO role in Outdoor Online. 

The second entity, Action Outdoor Sports, will retain the company’s current ammunition and munition components business

Investor Presentation

AMMO, Inc. (POWW), the owner of GunBroker.com, the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance ammunition and components, announces that its Board of Directors has unanimously approved a plan to separate its ammunition and marketplace businesses into two independent publicly-traded companies.

Outdoor Online will be comprised of GunBroker.com and its related online businesses. Current AMMO Chairman & CEO, Fred Wagenhals, will assume the Chairman & CEO role in Outdoor Online. 

The second entity, Action Outdoor Sports, will retain the company’s current ammunition and munition components business

Investor Presentation

Update(s):

August 25, 2022: AMMO, Inc. (POWW) CEO provides letter to Shareholders highlighting the separation of its Ammunition and Marketplace segments into two independent publicly traded companies. Current AMMO (POWW) shareholders will retain their full shares in Outdoor Online, which will be the new name of that company. 

iStar (STAR) will spin off to iStar shareholders a new publicly traded entity ("SpinCo") that will own all of its remaining non-ground lease assets and $400 million of its SAFE shares, enabling iStar shareholders to participate in the orderly monetization of these assets over time. SpinCo will be managed by New Safehold in exchange for a management fee.

Press Release

Investor Presentation

Update(s):

March 17, 2023: iStar (STAR) announced that its Board of Directors has conditionally declared a pro rata distribution of 0.153 common shares of Star Holdings for each share of iStar common stock outstanding as of March 27, 2023, the record date for the distribution. 

iStar currently expects the distribution to be made before the open of trading on March 31, 2023.

MDU Resources Group, Inc. (MDU) announced that its board of directors has unanimously approved a plan to separate its wholly owned construction materials business, Knife River Corporation, from the company.  The separation is expected to be effected as a tax-free spinoff to MDU Resources shareholders and to be completed in 2023.

Update(s):

March 10, 2023: MDU Resources Group (MDU: Knife River to be listed under ticker KNF on NYSE upon spinoff from MDU Resources. MDU Resources is on track to complete the spinoff of Knife River into an independent, publicly traded company in the second quarter of 2023.

Laboratory Corp. of America Holdings (LH) plans to spin off its unit focused on clinical drug trials, according to people familiar with the matter, a move that will create a new stand-alone company in the fast-growing contract-research sector.

Update(s):

February 09, 2023: Labcorp (LH) announced that the new company to be formed by the planned spin-off of its Clinical Development business will be known as Fortrea. Upon completion of the spin-off from Labcorp, Fortrea will operate as an independent, publicly traded global CRO that offers comprehensive drug and medical device development services.

3M Co (MMM) disclosed plans to spin off its healthcare business into a listed company, joining a raft of U.S. manufacturers looking to simplify their business and boost investor returns.

LiveOne (LVO), an award-winning, creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced its intention to spin-out its wholly owned subsidiary, PodcastOne, as a separate public company to be listed on a national exchange.

Kellogg Company (K) announced that its Board of Directors has approved a plan to separate its North American cereal and plant-based foods businesses, via tax-free spin-offs, resulting in three independent public companies, each better positioned to unlock their full standalone potential.

 - "Global Snacking Co." will be a leading company in global snacking, international cereal and noodles  and North America frozen breakfast

- "North America Cereal Co."  will be a leading cereal company in the U.S., Canada, and Caribbean

- "Plant Co." , will be a leading, pure-play plant-based foods company, anchored by the MorningStar Farms brand

The proposed spin-offs are intended to result in tax-free distributions of North America Cereal Co. and Plant Co. shares to Kellogg Company shareowners.  Shareowners would receive shares in the two spin-off entities on a pro-rata basis relative to their Kellogg holdings at the record date for each spin-off.

More details

Update(s):

September 28, 2022: Kellogg Company (K) announced additional appointments to the future leadership team of North America Cereal Co

Kellogg Company (K) appointed Norma Barnes-Euresti as Chief Legal Officer, Mike Christensen as Chief Human Resources Officer, Stacy Flathau as Chief Corporate Affairs Officer, Sarah Ludmer as Chief Wellbeing and ESG Officer and Bill Rex as Chief Information Officer

March 15, 2023: Kellogg Co's (K) global snacking business will be called "Kellanova" following the spin-off of its North American cereal unit.

Lionsgate (LGF-A) CEO Jon Feltheimer revealed details during an investor call on, May 26, about the company’s plans to spin off its Starz streaming unit by the end of the summer.

Update(s):

August 5, 2022: Lions Gate Entertainment Corp. (LGF-A) mentioned it’s likely to announce a deal to spin off or sell a piece of its Starz cable network in September, with potential partners also showing interest in the company’s film and TV studios.

Citius Pharmaceuticals, Inc. (CTXR), a late-stage biopharmaceutical company developing and commercializing first-in-class critical care products,  announced that it intends to split the Company's assets into two separate publicly-traded entities. 

Citius Pharmaceuticals, Inc. announces intention to Spinoff Late-Stage Oncology Asset, I/ONTAK, into a New Standalone Publicly Traded Company

Citius intends the spinoff to be accomplished through an initial public offering (IPO) and pro rata distribution of stock in the NewCo to Citius shareholders. 

The transactions are expected to be completed in the second half of calendar year 2022

Publicly traded Brookfield Asset Management Inc. (BAM) and distribute a 25% interest worth an estimated $20 billion to shareholders later this year, Bruce Flatt, chief executive, said in a letter

Update(s):

September 23, 2022: Brookfield (BAM) announced that its Board of Directors has unanimously approved the transaction for the public listing and distribution of a 25% interest in its asset management business, through Brookfield Asset Management Ltd. 

 Enveric Biosciences (ENVB), a neuroscience-focused biotechnology company developing next-generation, psychedelic-inspired mental health medicines, announced plans to transfer and spin-off its cannabinoid clinical development pipeline assets to a wholly-owned subsidiary, Acanna Therapeutics Inc., by way of dividend to Enveric shareholders.  

Aramark (ARMK) announced its plan to separate Aramark Uniform Services (AUS) into an independent, publicly traded company. The transaction is intended to be structured as a spin-off that is tax-free to Aramark and its stockholders. 

The Company currently expects the spin-off to occur by the end of fiscal 2023.

Investor Presentation

Vista Outdoor Inc. (VSTO) announced that its Board of Directors has unanimously approved a plan to separate its Outdoor Products and Sporting Products segments into two independent, publicly-traded companies. The Company expects to create these companies through a tax-free spin-off of its Outdoor Products segment to Vista Outdoor shareholders. 

Following the separation, the Company's Outdoor Products segment will be an industry-leading platform of outdoor brands including CamelBak, Bell, Giro, Camp Chef, Bushnell, Bushnell Golf, Foresight Sports, Stone Glacier and QuietKat. 

As an independent company, Sporting Products will continue to focus on ammunition categories through its renowned brands including Federal, Remington, CCI, Speer, Estate Cartridge and HEVI-Shot.

Update(s):

July 27, 2022: On May 5, 2022, Vista Outdoor Inc. (VSTO) announced that Board of Directors has unanimously approved preparations for the separation of our Outdoor Products and Sporting Products reportable segments into two independent, publicly-traded companies. During the three months ended June 26, 2022, they incurred costs associated with the planned separation, including advisory and legal fees. Given the nature of transaction costs, and differences in these amounts from one transaction to another, the company believes these costs are not indicative of ongoing operations of the company. They applied a blended tax rate of 25 percent.

Investor Presentation

Radware (RDWR), a leading provider of cyber security and application delivery solutions, announced the spinoff of its Cloud Native Protector business to form a new company called SkyHawk Security. 

Investor Presentation

Conduent Incorporated (CNDT), a business process services and solutions company, announced it is pursuing a separation of its Transportation business through either a sale or a spin-off.

Update(s):

July 19, 2022: Conduent Incorporated (CNDT), a business process services and solutions company, plans to report its second-quarter 2022 financial results on Tuesday, Aug. 2, after market close.

Crane Co. (CR), a diversified manufacturer of highly engineered industrial products, announced that its Board of Directors has unanimously approved a plan to pursue a separation into two independent, publicly-traded companies.  After the separation, Crane Co. will include the Aerospace & Electronics and Process Flow Technologies businesses.

Payment and Merchandising Technologies Business to Become “Crane NXT”.

Crane NXT's shares are expected to be listed on the NYSE under the ticker symbol “CXT”.

Separation Expected to be Completed Within Approximately 12 Months.

Update(s):

July 26, 2022:  Search process for Crane NXT CEO is underway, including evaluation of internal and external candidates.

December 15, 2022: Crane (CR) announced that it has filed a Form 10 Registration Statement with the U.S. Securities and Exchange Commission and is on track to complete the previously announced separation on April 3, 2023.

February 27, 2023: Crane Holdings, Co. (CR), a diversified manufacturer of highly engineered industrial products, announced that Christina Cristiano has been appointed Senior Vice President, Chief Financial Officer of Crane NXT. Spinoff is expected to occur on April 3, 2023.

March 20, 2023: Crane Holdings (CR), announced the signing of credit agreements that will provide an aggregate principal amount of $1.65 billion in new syndicated revolving credit and term loan facilities for Crane Company and Crane NXT. The new facilities are intended to support Crane’s previously announced plan to separate into two independent and simplified businesses, which we expect to complete on April 3, 2023.

Chairman and Chief Executive Officer of Spectrum Brands (SPB) David Maura mentioned they are currently considering possible scenarios for the combined business, which include, but are not limited to, a partial or complete spin-off to our shareholders, an initial public offering or a merger with an existing publicly traded entity. 

Ault Global Holdings, Inc. (DPW) a diversified holding company, announced its plan to split into two public companies by pursuing a spin-off of Ault Alliance to its stockholders.

Ault Alliance will continue its focus on the Company’s legacy businesses and more recently initiated operations, including lending and investing in the real estate and distressed asset spaces, among others, defense, and power solutions, including EV charging products.

Ault Global Holdings, Inc. to change its name to BitNile Holdings, Inc. and stock symbol to NILE by the end of 2021

Johnson & Johnson (JNJ) announced its intent to separate the Company’s Consumer Health business, creating a new publicly traded company.

Investor Presentation

Update(s):

August 24, 2022: Johnson & Johnson (JNJ) announced the appointment of Larry Merlo as Non-executive Chair Designate for the future, listed New Consumer Health Company’s Board of Directors. Merlo previously served as President and CEO of CVS Health

September 28, 2022: Johnson & Johnson (JNJ) announces Kenvue as the name for planned new consumer health company

January 4, 2023: Johnson & Johnson's (JNJ) consumer health unit Kenvue filed to be listed as an independent company, bringing the healthcare conglomerate a step closer to completing the biggest shakeup.

GE (GE) announced its plan to form three industry-leading, global public companies focused on the growth sectors of aviation, healthcare, and energy. Following the split, it will become an aviation company, helmed by Culp. The aviation company will inherit GE's other assets and liabilities, including its runoff insurance business.

Investor presentation

Update(s):

November 15, 2021: GE Aviation is ready to look at acquisitions to top up its portfolio with technologies that could help it shape the future of flight, without waiting for a planned break-up of its parent General Electric Co (GE).

GE (GE) announced its plan to form three industry-leading, global public companies focused on the growth sectors of aviation, healthcare, and energy by
combining GE Renewable Energy, GE Power, and GE Digital into one business, positioned to lead the energy transition, and then pursuing a tax-free spin-off of this business in early 2024.

Investor presentation

Teck Resources Ltd. (TECK) is exploring options for its metallurgical coal business, including a sale or spinoff that could value the unit at as much as $8 billion

Ecoark Holdings, Inc. (ZEST), announced its plan to spin-off its subsidiary, Trend Discovery Holdings LLC, and its subsidiaries into a new independent publicly-traded company through a pro rata distribution of Trend’s common stock to Ecoark’s shareholders.

Update(s):

March 21, 2023: Ecoark Holdings Changes its name to BitNile Metaverse (BNMV). The company’s ticker symbol will change from “ZEST” to “BNMV”. 

June 10, 2021: SK Telecom (SKM) announced that the Board of Directors approved the plan to split the company into SK Telecom and SKT Investment (new entity, tentatively named) through a horizontal spin-off.

Press Release

Investor Presentation

Update(s):

August 11, 2021: SKT (SKM) is taking necessary steps to split the company into a surviving company based on telecommunications, AI and digital infrastructure and a new investment company specialized in semiconductor and ICT. The spin-off is expected to be finalized through the General Shareholders Meeting to be held on October 12, 2021.

August 17, 2021: SK Telecom (SKM) announced that the name of the new company to be established through a horizontal spin-off has been decided as “SK Square.” The surviving company will keep its current name SK Telecom. SK Telecom is expected to officially split into SK Telecom and SK Square on November 1, 2021.

November 01, 2021: SK Telecom (SKM) held a Board of Directors Meeting at its headquarters and announced that Ryu Young-sang, has been appointed as its new CEO.

November 26, 2021: SK Squareband One Store, a company included in the investment portfolio of SK Square, announced that they applied for a preliminary review of their IPO plan for listing One Store on KOSPI by the first half of next year.

June 08, 2021: Honeywell International Inc. (HON) plans to spin off its quantum computing business and merge it with a software firm to form a new company that is likely to trade publicly.

Update(s):

July 21, 2021: Honeywell (HON) and Cambridge Quantum announced in June they are combining to form the world's largest, stand-alone quantum computing company. Closing of the combination transaction remains subject to regulatory review and customary closing conditions.

November 30, 2021: Honeywell (HON) announced  that Honeywell Quantum Solutions (HQS) and Cambridge Quantum (CQ), two global leaders in quantum computing and technology, received regulatory approval and completed the previously announced business combination.

May 10, 2021: Wynn Resorts, Limited (WYNN) and Austerlitz Acquisition Corporation I announced that they have entered into a definitive agreement under which Austerlitz I will combine with Wynn Interactive Ltd., a subsidiary of Wynn Resorts, to create an independent public company. Upon closing of the proposed transaction, the combined company will retain the “Wynn Interactive, Ltd.” name and relist its shares on the Nasdaq Stock Exchange under the new ticker symbol “WBET.”

The ODP Corporation (ODP) office supply retailing company, announced today that its Board of Directors has unanimously approved a plan to pursue a separation of the Company into two independent, publicly-traded companies.

Press Release

Update(s):

June 4, 2021: The ODP Corporation (ODP), through an integrated B2B distribution platform with an online presence confirmed that its Board of Directors has received a proposal from USR Parent, Inc. (“Staples”), the parent company of Staples and a portfolio company of Sycamore Partners, to acquire the Company’s consumer business for $1 billion in cash.

August 4, 2021: The Company has modified its plan for the separation to be structured as a tax-free spin-off of the Company’s consumer business, with the Company retaining its B2B related operations.

August 24, 2021:  The ODP Corporation (ODP) Announces officedepot.com, will be spun-off and will be named Office Depot, Inc. Kevin Moffitt, currently EVP, Chief Retail Officer of The ODP Corporation, will be appointed CEO of Office Depot upon completion of the spin-off.

January 14, 2022: The ODP Corporation (ODP), announced that its Board of Directors determined to delay the previously announced public company separation to evaluate a potential sale of the Company’s consumer business

May 4, 2022: Office Depot owner close to decision on sale of retail business 'Operationally, we’ll keep our heads down and focused on continuing to drive strong execution while making progress on the strategic evaluation of our consumer business, working to bring that process to a close in the near term,’ says ODP CEO Jerry Smith.

April 8, 2021: CommScope Holding Company, Inc. (COMM), a global leader in connectivity solutions for communications networks, announced its plan to spin-off its Home Networks business and other initiatives to reduce operating costs throughout the Company.

Investor Presentation

Update(s):

May 6, 2021: Announced plan to spin-off Home Networks business on track.

August 5, 2021: Planned spin-off progressing; on track to complete spin-off during second quarter 2022.

February 17, 2022: Planned spin-off of Home Networks business delayed due to supply chain constraints.

Lennar Corp said it plans to spin-off all or parts of ongoing businesses to become a pure-play homebuilder and financial services company.

Update(s):

March 17, 2022: Stuart Miller - Executive Chairman mentioned during earning call that they have Filed confidential Form 10 filing in February.? Also added, Given the choppiness of the capital markets and the work that is still being completed, we're pushing our expectations for the actual execution to the third or fourth quarter of this year.

October 27, 2020: SPI Energy (SPI) announced that its Board of Directors has approved the Company's plan to spin off its Solar Juice subsidiary through an initial public offering.

May 18, 2021: SPI Energy Co., Ltd. (SPI), a global renewable energy company and provider of solar storage and electric vehicle solutions for business, residential, government, logistics, and utility customers and investors, announced the appointment of Ning “Clare” Cai as its Chief Financial Officer of the Company’s SolarJuice Co., Ltd. (“Solarjuice”) subsidiary.

October 26, 2020: American International Group (AIG) announced its intention to separate its Life & Retirement business from AIG.

Update(s):

December 9, 2020: AIG Life & Retirement, a division of American International Group Inc. (AIG), announced that Todd Solash, Chief Executive Officer of its Individual Retirement business, will take on an expanded role with the additional leadership of the company’s Life Insurance business.

July 14, 2021: American International Group, Inc. (AIG) and Blackstone (BX) announced that they have reached a definitive agreement for Blackstone to acquire a 9.9% equity stake in AIG’s Life & Retirement business for $2.2 billion in an all cash transaction.

November 2, 2021: American International Group, Inc. (AIG) and Blackstone (BX) announced that the previously disclosed transaction for Blackstone to acquire a 9.9% equity stake in AIG’s Life & Retirement business and for Blackstone to manage an initial $50 billion of Life & Retirement’s existing investment portfolio has closed.

March 28, 2022: American International Group, Inc. (AIG) announced Directors for the Board of Directors of Corebridge Financial, Inc. as it continues to prepare its Life & Retirement business to be a standalone company.

March 28, 2022: American International Group, Inc. (AIG) announced that it plans to rebrand SAFG Retirement Services, Inc., the parent company of its Life & Retirement business, as Corebridge Financial, Inc. when it becomes a public company.

March 28, 2022: American International Group Inc. filed for an initial public offering of its life and retirement arm, one of the final steps in a years-long effort to simplify the sprawling insurer.

April 11, 2022:  American International Group, Inc. (AIG) announced that Sabra Purtill, has been appointed Executive Vice President and Chief Investment Officer for its Life & Retirement business, effective immediately.

August 26, 2020: PDL BioPharma (PDLI) announced that its majority owned medical device subsidiary, LENSAR, has filed a registration statement on Form 10 with the Securities and Exchange Commission relating to a potential spin-off of LENSAR from PDL. In the event the spin-off is consummated, LENSAR has applied to list shares of its common stock on the NASDAQ stock market under the ticker symbol “LNSR.”

July 29, 2020: Auryn Resources (AUG) and Eastmain Resources announced that they have entered into a definitive agreement pursuant to which Auryn will acquire all of the issued and outstanding shares of Eastmain, immediately following a spin out of Auryn’s Peruvian projects to Auryn shareholders and completion of a concurrent financing. The Transaction will create Fury Gold Mines Limited and two independent spin-out entities - “SpinCo Sombrero” consisting of the Sombrero project and “SpinCo Curibaya” consisting of the Curibaya and Huilacollo projects.

July 29, 2020: Auryn Resources (AUG) and Eastmain Resources announced that they have entered into a definitive agreement pursuant to which Auryn will acquire all of the issued and outstanding shares of Eastmain, immediately following a spin out of Auryn’s Peruvian projects to Auryn shareholders and completion of a concurrent financing. The Transaction will create Fury Gold Mines Limited and two independent spin-out entities - “SpinCo Sombrero” consisting of the Sombrero project and “SpinCo Curibaya” consisting of the Curibaya and Huilacollo projects.

July 17, 2020: The board of directors of HD Supply Holdings (HDS) has approved the spinoff to stockholders of our White Cap Construction & Industrial business unit. White Cap is a leading distributor of specialty concrete and construction products and services in North America serving professional contractors. Its common stock will be listed on The Nasdaq Stock Market under the symbol "WCAP." Following completion of the spinoff, HD Supply common shares will continue to trade on NASDAQ under the symbol "HDS" and HD Supply will continue to operate its Facilities Maintenance business unit.

June 17, 2020: BBX Capital Corporation (BBX) announced its intention to spin off its subsidiary, BBX Capital Florida LLC (“New BBX Capital”), in order to separate the business, activities and investments of the Company into two separate, publicly-traded companies: (i) the Company, which will continue to hold its investment in Bluegreen Vacations Corporation (“Bluegreen Vacations”), a leading vacation ownership company that markets and sells vacation ownership interests and manages resorts in popular leisure and urban destinations, and (ii) New BBX Capital, which will continue to hold or will hold at the time of the spin-off all of the Company’s other businesses and investments, including BBX Capital Real Estate LLC, BBX Sweet Holdings, LLC and Renin Holdings, LLC. As a result of the spin-off, the Company will cease to have any ownership interest in New BBX Capital and will become a “pure-play” Bluegreen Vacations holding company.

February 2, 2020: L Brands (LB) and Sycamore Partners announced a strategic transaction by positioning Bath & Body Works standalone public company and separating Victoria’s Secret into a privately-held entity.

May 5, 2020: L Brands (LB) announced that it had reached an agreement with New York-based private equity firm Sycamore Partners to cancel the sale of a 55% stake in Victoria's Secret. In a statement, L Brands said it would continue to prepare Victoria's Secret to spin off as a private, standalone company. In the meantime, it says it will go forward with a plan to be centered on Bath & Body Works, which has been its faster-growing brand.

May 11, 2021: L Brands, Inc. (LB) announced its Board of Directors has unanimously approved a plan to separate the company into two independent, public companies: Bath & Body Works, one of the world’s leading bath, body and home fragrance retailers, and Victoria’s Secret, including Victoria’s Secret Lingerie, PINK and Victoria’s Secret Beauty, a leading retailer of intimates and beauty products.

July 09, 2021: L Brands, Inc. (LB) announced that its Board of Directors approved a name change from L Brands, Inc. to Bath & Body Works, Inc. L Brands’ stock symbol will also change from “LB” to “BBWI.” The Name Change is expected to become effective on August 2, 2021, in connection with the separation. L Brands’ common stock is expected to start trading under the new stock symbol on August 3, 2021.

November 27, 2019: Telefónica S.A. (TEF) to Spin Off Hispanoamerica Business as Part of Action Plan.

November 7, 2019: Nielsen Holdings (NLSN) announced the completion of its strategic review and its plan to spin-off the company's Global Connect business, creating two independent, publicly traded companies—the Global Media business and the Global Connect business—each of which will have sharper strategic focus and greater opportunity to leverage its unique competitive advantages. Nielsen currently expects the spin-off transaction to be completed in nine to twelve months

October 31, 2019: Marathon Petroleum Corporation (MPC) announced its intention to separate Speedway into an independent, publicly traded company.

Update(s):

January 13, 2021: TechnipFMC's CFO to leave for Marathon Petroleum role ahead of spinoff

September 24, 2019: HD Supply Holdings (HDS) announced its intention to separate its Facilities Maintenance and Construction & Industrial businesses into two independent publicly traded companies through a distribution, which is expected to be tax-free to HD Supply shareholders for U.S. tax purposes. The separation is expected to be completed by the middle of fiscal 2020.

March 30, 2020: HD Supply Holdings (HDS) announced that due to materially changing market conditions caused by the COVID-19 pandemic, the previously announced timeline for the separation of its two businesses had been impacted. The Company remains committed to the separation of the two businesses and the strategic rationale is unchanged. The Company is continuing its preparations for separation when the markets sufficiently recover.

July 24, 2019: Tenet Healthcare Corporation (THC) announced its intention to pursue a tax-free spin-off of its Conifer business as a separate, independent publicly traded company. The company expects to complete the spin-off by the end of the second quarter of 2021.

December 1, 2020:  Tenet Healthcare Corporation (THC) announced the appointment of J. Roger Davis as President and Chief Executive Officer of its Conifer Health Solutions subsidiary, effective immediately.

April 10, 2021: Tenet Healthcare Corporation (THC) announced its intention to pursue a tax-free spin-off of its Conifer business as a separate, independent publicly traded company.

The company expects to complete the spin-off by the end of the second quarter of 2021.

November 27, 2018: DPW Holdings (DPW) announced that its Board of Directors has authorized the officers of DPW to pursue a spinoff of DPW’s wholly-owned subsidiary Super Crypto Mining, Inc.

January 2018: DPW formed Super Crypto Mining, Inc., a wholly-owned subsidiary, which recently changed its name to Digital Farms, Inc. (“DFI”). DFI was established to operate their newly formed cryptocurrency business, which is pursuing a variety of digital currency. They mine the top three cryptocurrencies for their own account. These cryptocurrencies include Bitcoin, Litecoin and Ethereum.

January 5, 2021: DPW Holdings (DPW), announced that it will, effective January 18, 2021, change its name to Ault Global Holdings, Inc. No approval of the Company’s stockholders is required for the Name Change. The Company’s shares will remain traded on the NYSE American under its current ticker symbol “DPW.”

August 9, 2018: Perrigo Company (PRGO) announced that its Board of Directors approved a plan to separate the Company's Prescription Pharmaceuticals (Rx) business following the Company's previously announced strategic portfolio review.

April 10, 2018: Tenneco (TEN) announced that it has signed a definitive agreement to acquire Federal-Mogul. Federal-Mogul is being acquired from Icahn Enterprises L.P. for a total consideration of $5.4 billion to be funded through cash, Tenneco equity and assumption of debt. Tenneco also announced its intention to separate the combined businesses into two independent, publicly traded companies through a tax-free spin-off to shareholders that will establish an aftermarket & ride performance company and a powertrain technology company. The acquisition is expected to close in the second half of 2018, subject to regulatory and shareholder approvals and other customary closing conditions, with the separation occurring in the second half of 2019.

During the Q2 2020 conference call Brian Kesseler announced the separation has been delayed due to pandemic.

April 10, 2018: Tenneco (TEN) announced that it has signed a definitive agreement to acquire Federal-Mogul. Federal-Mogul is being acquired from Icahn Enterprises L.P. for a total consideration of $5.4 billion to be funded through cash, Tenneco equity and assumption of debt. Tenneco also announced its intention to separate the combined businesses into two independent, publicly traded companies through a tax-free spin-off to shareholders that will establish an aftermarket & ride performance company and a powertrain technology company.

The acquisition is expected to close in the second half of 2018, subject to regulatory and shareholder approvals and other customary closing conditions, with the separation occurring in the second half of 2019.

Update(s):

February 15, 2019: Tenneco (TEN) announced that DRiV Incorporated will be the name of the future publicly traded Aftermarket and Ride Performance company that will launch in the second half of this year, following Tenneco’s separation into two independent companies.

January 7, 2020: Tenneco Inc. (TEN) announced current end-market conditions are affecting the Company's ability to complete a separation in the mid-year 2020 time range. 

 January 27, 2020: Tenneco Inc. (TEN) reconfirmed that it has been reviewing strategic alternatives to maximize shareholder value. In consultation with its advisors, Tenneco is reviewing and considering, in addition to the current plan to spin off the Company's Aftermarket and Ride Performance business ("DRiV"), a full range of strategic options including the sale of DRiV and/or the Company's Powertrain Technology business.

During the Second quarter 2020 conference call Brian Kesseler announced the separation has been delayed due to pandemic.

February 26, 2018: Deutsche Bank (DB) is poised to take the most tangible step so far in its reorganization with the stock market spinoff of its DWS fund management group as early as next month.