Completed Spinoffs

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  Spinoff Name Spinoff Symbol Announced Date Spinoff Date First Day Closing Spinoff Last Price Spinoff Performance Spinoff Current Volume Parent Name Parent Symbol Parent First Day Closing Parent Last Price Parent Performace Parent Current Volume Type
DIRECTV N/A 02/25/2021 08/02/2021 N/A 0.00% AT&T Inc. T 28.11 28.11 0.00% 31,722,899 Spinoff
AT&T Inc., spinoff details:

February 25, 2021: AT&T Inc. (T) and TPG Capital, the private equity platform of global alternative asset firm TPG, announced that they have signed a definitive agreement under which the two parties will establish a new company named DIRECTV that will own and operate AT&T’s U.S. video business unit consisting of the DIRECTV, AT&T TV and U-verse video services.

Update(s) :

March 08, 2021: AT&T (T) will receive about $7.8 billion up front after the transaction closes later this year. After that, the company starts sharing the DirecTV, AT&T TV and U-verse video business on a 70-30 basis with TPG.

August 02, 2021: AT&T Inc. (T) and TPG Capital, the private equity platform of global alternative asset firm TPG, announced that they have closed their transaction establishing a new company named DIRECTV. This new company will own and operate the DIRECTV, AT&T TV, and U-verse video services previously owned and operated by AT&T.

GXO Logistics GXO 12/02/2020 08/02/2021 63.07 63.07 0.00% 4,865,805 XPO Logistics, Inc. XPO 83.95 83.95 0.00% 5,312,216 Carve Out
XPO Logistics, Inc., spinoff details:

December 2, 2020: XPO Logistics (XPO) announced that its board of directors has unanimously approved a plan to pursue a spin-off of 100% of its logistics segment as a separate publicly traded company. XPO intends to structure the spin-off as a transaction that is tax-free to XPO shareholders and would result in XPO shareholders owning stock in both companies.

January 27, 2021: Bradley Jacobs, XPO Logistics CEO, told a webinar audience on Monday that he is open to acquiring new companies once the existing XPO model is split into two parts. The company plans to split into a "pure play" LTL company and a logistics company.

March 18, 2021: XPO Logistics (XPO) has selected GXO Logistics as the name of the stand-alone logistics company that it will spin off from its larger operation later this year.

June 15, 2021: XPO Logistics, Inc. (XPO) Announces Meagan Fitzsimmons as Chief Compliance Officer for GXO Logistics Spin-Off.

July 13, 2021: XPO Logistics, Inc. (XPO) announced that its board of directors approved the previously announced separation of its logistics segment through the distribution of all of the outstanding shares of common stock of its wholly owned subsidiary, GXO Logistics, Inc. (“GXO”), to holders of XPO common stock.

Record date for the distribution of GXO shares will be July 23, 2021

“When-Issued” trading expected to begin on or about July 22, 2021

Distribution expected to be completed on August 2, 2021

August 02, 2021: XPO Logistics, Inc. (XPO) announced that it has completed the previously announced spin-off of GXO Logistics, Inc., creating two independent, publicly traded companies. XPO shares will continue to trade on the NYSE under the symbol “XPO” and GXO will begin “regular way” trading on the NYSE under the symbol “GXO.”

Spinoff Completed

N-able NABL 12/09/2020 07/20/2021 16.00 14.28 -10.75% 357,950 SolarWinds Corp SWI 8.92 22.07 147.42% 915,409 Spinoff
SolarWinds Corp, spinoff details:

December 9, 2020: SolarWinds Corporation (SWI) announced that it has confidentially submitted with the U.S. Securities and Exchange Commission (SEC) a Form 10 registration statement with respect to the potential spin-off of its managed service provider (MSP) business.

June 25, 2021: SolarWinds Corporation (SWI), announced that its Board of Directors has established July 12, 2021, as the record date and July 19, 2021, as the anticipated distribution date in connection with the previously announced potential spin-off of its MSP business into a standalone, separately-traded public company named N-able, Inc. (“N-able”).

July 20, 2021: SolarWinds Corporation (SWI), and N-able, Inc. (NABL), a leading provider of cloud-based software solutions for managed service providers, announced the completion of the previously announced spin-off of the SolarWinds managed service provider (“MSP”) business into a standalone, separately-traded public company named N-able, Inc. The separation was completed on July 19, 2021.

Spinoff completed

DT Midstream, Inc. DTM 10/27/2020 07/01/2021 42.02 43.22 2.86% 493,259 DTE Energy Company DTE 111.88 117.6 5.11% 896,192 Spinoff
DTE Energy Company, spinoff details:

October 27, 2020: DTE Energy (DTE) announced that the Company’s Board of Directors has unanimously authorized management to pursue a plan to spin-off the DTE Midstream business from DTE Energy.

July 01, 2021: DTE Energy Company (DTE) announced that it has completed the previously announced spin-off of its DT Midstream, Inc. (DTM) natural gas pipeline business.

Brookfield Asset Management Reinsurance Partners BAMR 11/12/2020 06/28/2021 62.10 54.35 -12.48% 26,623 Brookfield Asset Management BAM 51.98 54.1 4.08% 1,537,906 Spinoff
Brookfield Asset Management, spinoff details:

November 12, 2020: Brookfield Asset Management (BAM) announced that it intends to distribute, in the first half of 2021, a special dividend in the form of a newly created “paired” entity, Brookfield Asset Management Reinsurance Partners (“BAM Reinsurance”). BAM Reinsurance also intends to apply to list its class A shares in the United States on the NYSE and in Canada on the TSX. Subject to the receipt of all regulatory approvals, Brookfield anticipates completing the special distribution in the first half of 2021.

June 28, 2021: Brookfield Asset Management Inc. (BAM) and Brookfield Asset Management Reinsurance Partners Ltd.  (BAMR) jointly announced that Brookfield has completed the previously announced creation of Brookfield Reinsurance.

Organon & Co. OGN 02/05/2020 06/03/2021 33.68 29.53 -12.32% 1,750,154 Merck & Co., Inc. MRK 73.91 76.18 3.07% 8,943,780 Spinoff
Merck & Co., Inc., spinoff details:

February 5, 2020: Merck (MRK), known as MSD outside the United States and Canada, announced its intention to spin-off products from its Women’s Health, trusted Legacy Brands, and Biosimilars businesses into a new, yet-to-be-named, independent, publicly traded company.

Update(s):

March 17, 2021: Merck (MRK), known as MSD outside the United States and Canada, announced that it has filed a Form 10 registration statement with the United States Securities and Exchange Commission (“SEC”) in connection with the intended spinoff of its women’s health, biosimilars and established brands businesses into a standalone, publicly-traded company, Organon. Organon will register its common stock under Section 12 of the Securities Exchange Act of 1934 .

March 30, 2021: Merck has entered a definitive agreement in which its intended spinoff Organon will acquire the commercial-stage medical device company Alydia Health for a total of up to $240m.

June 03, 2021: Merck (MRK), known as MSD outside the United States and Canada, announced it has completed the spinoff of Organon & Co. (Organon).

  Spinoff Name Announced Date Parent Symbol
DIRECTV 02/25/2021 T
AT&T Inc., spinoff details:

February 25, 2021: AT&T Inc. (T) and TPG Capital, the private equity platform of global alternative asset firm TPG, announced that they have signed a definitive agreement under which the two parties will establish a new company named DIRECTV that will own and operate AT&T’s U.S. video business unit consisting of the DIRECTV, AT&T TV and U-verse video services.

Update(s) :

March 08, 2021: AT&T (T) will receive about $7.8 billion up front after the transaction closes later this year. After that, the company starts sharing the DirecTV, AT&T TV and U-verse video business on a 70-30 basis with TPG.

August 02, 2021: AT&T Inc. (T) and TPG Capital, the private equity platform of global alternative asset firm TPG, announced that they have closed their transaction establishing a new company named DIRECTV. This new company will own and operate the DIRECTV, AT&T TV, and U-verse video services previously owned and operated by AT&T.

GXO Logistics 12/02/2020 XPO
XPO Logistics, Inc., spinoff details:

December 2, 2020: XPO Logistics (XPO) announced that its board of directors has unanimously approved a plan to pursue a spin-off of 100% of its logistics segment as a separate publicly traded company. XPO intends to structure the spin-off as a transaction that is tax-free to XPO shareholders and would result in XPO shareholders owning stock in both companies.

January 27, 2021: Bradley Jacobs, XPO Logistics CEO, told a webinar audience on Monday that he is open to acquiring new companies once the existing XPO model is split into two parts. The company plans to split into a "pure play" LTL company and a logistics company.

March 18, 2021: XPO Logistics (XPO) has selected GXO Logistics as the name of the stand-alone logistics company that it will spin off from its larger operation later this year.

June 15, 2021: XPO Logistics, Inc. (XPO) Announces Meagan Fitzsimmons as Chief Compliance Officer for GXO Logistics Spin-Off.

July 13, 2021: XPO Logistics, Inc. (XPO) announced that its board of directors approved the previously announced separation of its logistics segment through the distribution of all of the outstanding shares of common stock of its wholly owned subsidiary, GXO Logistics, Inc. (“GXO”), to holders of XPO common stock.

Record date for the distribution of GXO shares will be July 23, 2021

“When-Issued” trading expected to begin on or about July 22, 2021

Distribution expected to be completed on August 2, 2021

August 02, 2021: XPO Logistics, Inc. (XPO) announced that it has completed the previously announced spin-off of GXO Logistics, Inc., creating two independent, publicly traded companies. XPO shares will continue to trade on the NYSE under the symbol “XPO” and GXO will begin “regular way” trading on the NYSE under the symbol “GXO.”

Spinoff Completed

N-able 12/09/2020 SWI
SolarWinds Corp, spinoff details:

December 9, 2020: SolarWinds Corporation (SWI) announced that it has confidentially submitted with the U.S. Securities and Exchange Commission (SEC) a Form 10 registration statement with respect to the potential spin-off of its managed service provider (MSP) business.

June 25, 2021: SolarWinds Corporation (SWI), announced that its Board of Directors has established July 12, 2021, as the record date and July 19, 2021, as the anticipated distribution date in connection with the previously announced potential spin-off of its MSP business into a standalone, separately-traded public company named N-able, Inc. (“N-able”).

July 20, 2021: SolarWinds Corporation (SWI), and N-able, Inc. (NABL), a leading provider of cloud-based software solutions for managed service providers, announced the completion of the previously announced spin-off of the SolarWinds managed service provider (“MSP”) business into a standalone, separately-traded public company named N-able, Inc. The separation was completed on July 19, 2021.

Spinoff completed

DT Midstream, Inc. 10/27/2020 DTE
DTE Energy Company, spinoff details:

October 27, 2020: DTE Energy (DTE) announced that the Company’s Board of Directors has unanimously authorized management to pursue a plan to spin-off the DTE Midstream business from DTE Energy.

July 01, 2021: DTE Energy Company (DTE) announced that it has completed the previously announced spin-off of its DT Midstream, Inc. (DTM) natural gas pipeline business.

Brookfield Asset Management Reinsurance Partners 11/12/2020 BAM
Brookfield Asset Management, spinoff details:

November 12, 2020: Brookfield Asset Management (BAM) announced that it intends to distribute, in the first half of 2021, a special dividend in the form of a newly created “paired” entity, Brookfield Asset Management Reinsurance Partners (“BAM Reinsurance”). BAM Reinsurance also intends to apply to list its class A shares in the United States on the NYSE and in Canada on the TSX. Subject to the receipt of all regulatory approvals, Brookfield anticipates completing the special distribution in the first half of 2021.

June 28, 2021: Brookfield Asset Management Inc. (BAM) and Brookfield Asset Management Reinsurance Partners Ltd.  (BAMR) jointly announced that Brookfield has completed the previously announced creation of Brookfield Reinsurance.

Organon & Co. 02/05/2020 MRK
Merck & Co., Inc., spinoff details:

February 5, 2020: Merck (MRK), known as MSD outside the United States and Canada, announced its intention to spin-off products from its Women’s Health, trusted Legacy Brands, and Biosimilars businesses into a new, yet-to-be-named, independent, publicly traded company.

Update(s):

March 17, 2021: Merck (MRK), known as MSD outside the United States and Canada, announced that it has filed a Form 10 registration statement with the United States Securities and Exchange Commission (“SEC”) in connection with the intended spinoff of its women’s health, biosimilars and established brands businesses into a standalone, publicly-traded company, Organon. Organon will register its common stock under Section 12 of the Securities Exchange Act of 1934 .

March 30, 2021: Merck has entered a definitive agreement in which its intended spinoff Organon will acquire the commercial-stage medical device company Alydia Health for a total of up to $240m.

June 03, 2021: Merck (MRK), known as MSD outside the United States and Canada, announced it has completed the spinoff of Organon & Co. (Organon).

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