November 15, 2018: Post Holding (POST) announced it plans to pursue an initial public offering of shares of common stock of a company which will be comprised of its Active Nutrition business.

September 20, 2019: Post Holdings (POST) announced that its active nutrition business will be named BellRing Brands, Inc. following the completion of the previously announced proposed initial public offering of approximately 20% of its ownership. The IPO is expected to be completed in the fall of 2019, subject to market and other conditions. BellRing has applied for its Class A common stock to be listed on the New York Stock Exchange under the symbol “BRBR”.

October 21, 2019: Post Holdings (POST) and BellRing Brands (BRBR) announced the closing of BellRing’s previously announced initial public offering of 39,428,571 shares of BellRing’s Class A common stock at a price to the public of $14.00 per share. BellRing’s Class A common stock began trading on October 17, 2019 on the New York Stock Exchange under the symbol “BRBR”.

May 6, 2019: The Ensign Group (ENSG) announced a plan to separate its home health and hospice agencies and substantially all of its senior living businesses into a separate publicly-traded company. Upon consummation of the spin-off, the two companies will include: The Ensign Group, Inc., which will include transitional and skilled services, rehabilitative care services, healthcare campuses, post-acute-related new business ventures and real estate investments; and The Pennant Group, Inc., which will include Ensign’s home health and hospice operations, substantially all of Ensign’s senior living operations, and Ensign’s mobile diagnostic and clinical laboratory operations. The spin-off is expected to be tax-free to Ensign’s shareholders, except for any cash paid in lieu of fractional shares. Pennant has applied to list its shares on the NASDAQ stock market under the ticker symbol “PNTG.”

September 9, 2019: The spin-off will be completed by way of a pro rata distribution of Pennant common stock to Ensign’s stockholders of record on September 20, 2019, the spin-off record date.

October 1, 2019: The Ensign Group (ENSG) announced the successful completion of its spin-off of The Pennant Group (PNTG).

November 19, 2018: Nuance Communications (NUAN) announced its intention to spin off its Automotive business segment into a new, independent, publicly traded company ("Nuance Auto"). The standalone entity will be a pure-play, next-generation automotive software company.  Immediately following the transaction, which is expected to be completed before the end of fiscal 2019, Nuance shareholders will own shares of both companies.

September 4, 2019: Nuance expects to distribute shares in the new company, Cerence to its sharedolders, following the end of their September 30, 2019 fiscal year. At that time, Cerence will be listed on the Nasdaq Global Select Market under the ticker symbol “CRNC,”.

September 9, 2019: The spinoff is expected to be completed on October 1, 2019.

July 19, 2018: Danaher Corporation (DHR) announced its intention to spin off its Dental segment into an independent, publicly-traded company ("DentalCo"). The transaction is intended to be tax-free to Danaher shareholders and expected to be completed in the second half of 2019.

Update(s)

September 17, 2019: Envista Holdings Corporation, a subsidiary of Danaher Corporation (DHR), announced the pricing of its initial public offering (IPO) of 26,768,000 shares of its common stock at a price to the public of $22.00 per share. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "NVST.

November 15, 2019: Danaher Corporation (DHR) announced that it will commence an exchange offer related to the split-off of its remaining interest in Envista Holdings Corporation (NVST). Envista completed its initial public offering (IPO) in September 2019, with Danaher retaining an 80.6 percent ownership interest in Envista. In the exchange offer, Danaher stockholders have the option to exchange all, some or none of their shares of Danaher common stock for shares of Envista common stock owned by Danaher, subject to the terms of the offer. The exchange offer is anticipated to be tax-free for participating Danaher stockholders in the United States, except with respect to cash received in lieu of a fractional share.

December 19, 2019: Envista Holdings Corporation (NVST) announced that it is now a fully independent company. The closing of Danaher Corporation’s exchange offer completes the journey Envista began in 2018 when its former parent company announced its intention to separate its Dental platform into one of the largest global dental products companies.

May 20, 2019: EchoStar Corporation (SATS) announced that it executed an agreement with DISH Network Corporation (DISH) to transfer to DISH the portion of its EchoStar Satellite Services business that manages and provides broadcast satellite services primarily to DISH and its subsidiaries.

September 10, 2019: EchoStar Corporation (SATS) announced the completion of its previously announced spin-off and subsequent merger with DISH Network Corporation (DISH).

February 27, 2018: KAR Auction Services (KAR) announced that it is pursuing a separation of its Insurance Auto Auctions (IAA) salvage auction business unit. The separation aims to increase shareholder value and focus each company’s strategic priorities on its respective marketplace and unique customers. The tax-free spin-off is expected to close within the next twelve months and will create two independent, publicly traded companies with distinct strengths that position them for continued success and market leadership.

April 1, 2019: KAR Auction Services (KAR) announced that it has received a favorable private letter ruling from the Internal Revenue Service (the “IRS”) with respect to the tax-free status of its previously announced spin-off of its Insurance Auto Auctions (“IAA”) salvage auction business.

June 5, 2019: KAR Auction Services (KAR) announced that its board of directors formally approved the separation of its salvage auction business from KAR through a distribution of all of the outstanding shares of common stock of its wholly-owned subsidiary, IAA Spinco Inc. (to be renamed IAA, Inc.) (“IAA”), to KAR stockholders on a pro rata basis. The distribution is expected to be made on June 28, 2019, to KAR stockholders of record as of 5:00 p.m. EDT on June 18, 2019, the record date for the distribution. Following the distribution, IAA will be an independent, publicly traded company on the New York Stock Exchange (“NYSE”), and KAR will retain no ownership interest in IAA.

June 28, 2019: KAR Auction Services (KAR) announced that it successfully completed its previously announced separation of IAA, Inc. (IAA).

November 15, 2018: Post Holding (POST) announced it plans to pursue an initial public offering of shares of common stock of a company which will be comprised of its Active Nutrition business.

September 20, 2019: Post Holdings (POST) announced that its active nutrition business will be named BellRing Brands, Inc. following the completion of the previously announced proposed initial public offering of approximately 20% of its ownership. The IPO is expected to be completed in the fall of 2019, subject to market and other conditions. BellRing has applied for its Class A common stock to be listed on the New York Stock Exchange under the symbol “BRBR”.

October 21, 2019: Post Holdings (POST) and BellRing Brands (BRBR) announced the closing of BellRing’s previously announced initial public offering of 39,428,571 shares of BellRing’s Class A common stock at a price to the public of $14.00 per share. BellRing’s Class A common stock began trading on October 17, 2019 on the New York Stock Exchange under the symbol “BRBR”.

May 6, 2019: The Ensign Group (ENSG) announced a plan to separate its home health and hospice agencies and substantially all of its senior living businesses into a separate publicly-traded company. Upon consummation of the spin-off, the two companies will include: The Ensign Group, Inc., which will include transitional and skilled services, rehabilitative care services, healthcare campuses, post-acute-related new business ventures and real estate investments; and The Pennant Group, Inc., which will include Ensign’s home health and hospice operations, substantially all of Ensign’s senior living operations, and Ensign’s mobile diagnostic and clinical laboratory operations. The spin-off is expected to be tax-free to Ensign’s shareholders, except for any cash paid in lieu of fractional shares. Pennant has applied to list its shares on the NASDAQ stock market under the ticker symbol “PNTG.”

September 9, 2019: The spin-off will be completed by way of a pro rata distribution of Pennant common stock to Ensign’s stockholders of record on September 20, 2019, the spin-off record date.

October 1, 2019: The Ensign Group (ENSG) announced the successful completion of its spin-off of The Pennant Group (PNTG).

November 19, 2018: Nuance Communications (NUAN) announced its intention to spin off its Automotive business segment into a new, independent, publicly traded company ("Nuance Auto"). The standalone entity will be a pure-play, next-generation automotive software company.  Immediately following the transaction, which is expected to be completed before the end of fiscal 2019, Nuance shareholders will own shares of both companies.

September 4, 2019: Nuance expects to distribute shares in the new company, Cerence to its sharedolders, following the end of their September 30, 2019 fiscal year. At that time, Cerence will be listed on the Nasdaq Global Select Market under the ticker symbol “CRNC,”.

September 9, 2019: The spinoff is expected to be completed on October 1, 2019.

July 19, 2018: Danaher Corporation (DHR) announced its intention to spin off its Dental segment into an independent, publicly-traded company ("DentalCo"). The transaction is intended to be tax-free to Danaher shareholders and expected to be completed in the second half of 2019.

Update(s)

September 17, 2019: Envista Holdings Corporation, a subsidiary of Danaher Corporation (DHR), announced the pricing of its initial public offering (IPO) of 26,768,000 shares of its common stock at a price to the public of $22.00 per share. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol "NVST.

November 15, 2019: Danaher Corporation (DHR) announced that it will commence an exchange offer related to the split-off of its remaining interest in Envista Holdings Corporation (NVST). Envista completed its initial public offering (IPO) in September 2019, with Danaher retaining an 80.6 percent ownership interest in Envista. In the exchange offer, Danaher stockholders have the option to exchange all, some or none of their shares of Danaher common stock for shares of Envista common stock owned by Danaher, subject to the terms of the offer. The exchange offer is anticipated to be tax-free for participating Danaher stockholders in the United States, except with respect to cash received in lieu of a fractional share.

December 19, 2019: Envista Holdings Corporation (NVST) announced that it is now a fully independent company. The closing of Danaher Corporation’s exchange offer completes the journey Envista began in 2018 when its former parent company announced its intention to separate its Dental platform into one of the largest global dental products companies.

May 20, 2019: EchoStar Corporation (SATS) announced that it executed an agreement with DISH Network Corporation (DISH) to transfer to DISH the portion of its EchoStar Satellite Services business that manages and provides broadcast satellite services primarily to DISH and its subsidiaries.

September 10, 2019: EchoStar Corporation (SATS) announced the completion of its previously announced spin-off and subsequent merger with DISH Network Corporation (DISH).

February 27, 2018: KAR Auction Services (KAR) announced that it is pursuing a separation of its Insurance Auto Auctions (IAA) salvage auction business unit. The separation aims to increase shareholder value and focus each company’s strategic priorities on its respective marketplace and unique customers. The tax-free spin-off is expected to close within the next twelve months and will create two independent, publicly traded companies with distinct strengths that position them for continued success and market leadership.

April 1, 2019: KAR Auction Services (KAR) announced that it has received a favorable private letter ruling from the Internal Revenue Service (the “IRS”) with respect to the tax-free status of its previously announced spin-off of its Insurance Auto Auctions (“IAA”) salvage auction business.

June 5, 2019: KAR Auction Services (KAR) announced that its board of directors formally approved the separation of its salvage auction business from KAR through a distribution of all of the outstanding shares of common stock of its wholly-owned subsidiary, IAA Spinco Inc. (to be renamed IAA, Inc.) (“IAA”), to KAR stockholders on a pro rata basis. The distribution is expected to be made on June 28, 2019, to KAR stockholders of record as of 5:00 p.m. EDT on June 18, 2019, the record date for the distribution. Following the distribution, IAA will be an independent, publicly traded company on the New York Stock Exchange (“NYSE”), and KAR will retain no ownership interest in IAA.

June 28, 2019: KAR Auction Services (KAR) announced that it successfully completed its previously announced separation of IAA, Inc. (IAA).