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
Arlo Technologies, Inc. ARLO 02/06/2018 08/03/2018 22.10 19.38 -12.31% 519,589 NetGear NTGR 65.7 68.2 3.81% 277,603 Carve Out
NetGear, spinoff details:

February 6, 2018: NETGEAR (NTGR) announced that its Board of Directors has unanimously approved the pursuit of a separation of its Arlo business from NETGEAR. The separation is expected to be effected through an initial public offering (IPO) of newly issued shares of the common stock of Arlo Technologies, Inc. (Arlo), which will hold the Arlo business. NETGEAR expects Arlo to issue less than 20% of its common stock in the IPO, with NETGEAR to retain the remaining interest. NETGEAR expects Arlo to confidentially submit a draft registration statement with the Securities and Exchange Commission (SEC) in the first half of 2018, with the IPO expected to be completed in the second half of 2018.

Veoneer VNE 09/14/2017 07/02/2018 44.20 55.84 26.33% 502,165 Autoliv, Inc. ALV 100.28 92.65 -7.61% 393,652 Splitoff
Autoliv, Inc., spinoff details:

September 14, 2017: Autoliv (ALV) announced that its Board of Directors has instructed management to conduct a strategic review of its operating structure with the intent to create separate companies of its two current business segments, Passive Safety and Electronics. The intent is to create two publicly traded companies capable of addressing two distinct, growing markets with leading product offerings and thereby create additional value for shareholders, customers and other stakeholders as compared to the current, combined structure of Autoliv. The strategic review process will evaluate this and other options.

December 12, 2017: Autoliv (ALV) announced that its Board of Directors has concluded its strategic review and decided to prepare for a spin-off of its Electronics business segment, creating a new, independent publicly traded company during the third quarter of 2018.

February 19, 2018: In December 2017, Autoliv's Board of Directors decided to continue with the spin-off of its Electronics business segment – now to be named Veoneer – creating a new, independent publicly traded company during the third quarter of 2018. Autoliv's current Passive Safety segment will continue to operate under the Autoliv name, with continued listings on the NYSE and Nasdaq Stockholm.

April 26, 2018: Autoliv (ALV) announced important steps in the process to spin-off its Electronics business. The Company anticipates trading in Veoneer to begin in the early part of the third quarter of 2018 with listings on the New York Stock Exchange and Nasdaq Stockholm.

May 21, 2018: Autoliv (ALV) announced that Veoneer, its electronics segment, has filed an amendment to its Registration Statement on Form 10 in connection with its planned spin-off from Autoliv.

May 24, 2018: Autoliv (ALV) announced that its board of directors has approved a pro rata distribution to Autoliv stockholders of all of the will receive one share of Veoneer common stock for each share of Autoliv common stock held as of the close of business in the U.S. on June 12, 2018, the common stock record date for the distribution. The record date for the distribution to holders of Autoliv SDRs is July 2, 2018. Veoneer will not issue fractional shares of its common stock in the distribution. The Spin-off is expected to be completed on June 29, 2018, and Veoneer is expected to begin “regular way” trading on the New York Stock Exchange under the symbol “VNE”.

June 8, 2018: Autoliv (ALV) issued a press release announcing that the registration statement on Form 10 previously filed by Veoneer with the U.S. Securities and Exchange Commission (SEC) to register its common stock for listing on the New York Stock Exchange became effective on June 8, 2018. The first day of regular way trading for Veoneer common stock on the New York Stock Exchange and SDRs on Nasdaq Stockholm is expected to be July 2, 2018.

July 2, 2018: Pursuant to the Distribution Agreement, Autoliv (ALV) completed the spin-off through the distribution by Autoliv of all of the outstanding shares of common stock of Veoneer to Autoliv stockholders as of the close of business on June 12, 2018, the common stock record date for the distribution, in a tax-free, pro rata distribution. Veoneer is now an independent public company, and on July 2, 2018, Veoneer’s common stock began regular-way trading on the New York Stock Exchange under the symbol “VNE” and its SDRs began trading on Nasdaq Stockholm under the symbol “VNE SDB.”

Retail Value Inc. RVI 12/14/2017 07/01/2018 32.38 33.7 4.08% 155,499 DDR Corp. DDR 14.12 14.4 1.98% 2,030,034 Carve Out
DDR Corp., spinoff details:

December 14, 2017: DDR Corp. (DDR) announced that the Company’s Board of Directors has unanimously approved a plan to spin off a portfolio of 50 assets, comprised of 38 Continental U.S. assets and the entirety of the Puerto Rico portfolio into a separate publicly-traded REIT to be named Retail Value Trust (“RVT”). RVT expects to confidentially file its initial Form 10 registration statement with the U.S. Securities and Exchange Commission in the first quarter of 2018, and the spin-off is expected to be completed during the summer of 2018.

February 14, 2018: DDR Corp. (DDR) announced the closing of the $1.35 billion mortgage associated with the planned spin-off of Retail Value Inc (“RVI”).

June 4, 2018: DDR Corp. (DDR), declared the distribution of all the common shares of Retail Value Inc., or RVI, a wholly-owned subsidiary of DDR, to DDR’s shareholders. DDR’s Board of Directors has determined upon careful review and consideration that RVI’s separation from DDR is in the best interests of DDR and its shareholders. The distribution of RVI common shares will occur on July 1, 2018 by way of a pro rata special distribution to DDR shareholders of record on the record date of the distribution. The company intends to apply to list RVI’s common shares on the New York Stock Exchange under the symbol “RVI.”

July 1, 2018: On July 1, 2018 DDR Corp. (DDR) and Retail Value completed the previously announced spin off of RVI. RVI is now an independent public company listed on the New York Stock Exchange under the symbol “RVI.”

Perspecta PRSP 10/11/2017 06/01/2018 24.55 23.3 -5.09% 1,136,345 DXC Technology Company DXC 83.40 87.37 4.76% 1,819,165 Reverse Morris Trust
DXC Technology Company, spinoff details:

October 11, 2017: DXC Technology (DXC) announced that its board of directors has unanimously approved a plan to combine its U.S. Public Sector (USPS) business with Vencore Holding Corporation and KeyPoint Government Solutions to form a separate, independent publicly traded company to serve U.S. public sector clients. The formation of the new company is expected to be completed by the end of March 2018, subject to regulatory and other approvals.

March 8, 2018: Perspecta will be the name of the new company formed by the proposed merger of the U.S. Public Sector Business of DXC Technology (DXC) with Vencore Holding Corporation and KeyPoint Government Solutions when the transaction closes. Today’s announcement revealed the company name and logo. The full launch of the new brand will take place with the debut of the new company, which is expected in May 2018.

May 7, 2018: DXC Technology (DXC) announced that its Board of Directors has set a record date of May 25, 2018 for the previously announced spin-off of its U.S. public sector business into a new, publicly traded company named Perspecta (PRSP).

June 1, 2018: Perspecta (PRSP) announced that it has completed its separation from DXC Technology Company (DXC) and is now an independent public company, commencing trading today on the New York Stock Exchange under the ticker symbol "PRSP."

CorePoint Lodging CPLG 07/26/2017 05/31/2018 27.89 22.48 -19.40% 506,969 La Quinta Holdings Inc. LQ 21.62 21.62 0.00% 3,782,301 Spinoff
La Quinta Holdings Inc., spinoff details:

July 26, 2017: La Quinta Holdings (LQ) announced that a Form 10 Registration Statement was filed today with the U.S. Securities and Exchange Commission with respect to the previously announced planned separation of its real estate business, which is to be named CorePoint Lodging Inc. from its franchise and management businesses (“new La Quinta” or “post-spin La Quinta”) creating two distinct, publicly traded companies.

January 18, 2018: La Quinta (LQ) announced that Wyndham Worldwide Corporation (WYN) and La Quinta have entered into a definitive agreement under which Wyndham Worldwide will acquire La Quinta’s hotel franchise and hotel management businesses for $1.95 billion in cash. Immediately prior to the sale of La Quinta to Wyndham Worldwide, La Quinta will spin-off its owned real estate assets into CorePoint. The acquisition is subject to the completion of the spin-off of the Company, approval by La Quinta stockholders, regulatory approvals and the satisfaction of other customary closing conditions, and is expected to close in the second quarter of 2018.

April 26, 2018: At a special meeting, stockholders of La Quinta Holdings (LQ) approved the adoption of the Agreement and Plan of Merger, by and among Wyndham Worldwide Corporation (WYN) and La Quinta. The Merger Consideration is in addition to the shares of CorePoint Lodging that their stockholders will receive in the spin-off of CorePoint Lodging Inc.

May 8, 2018: La Quinta Holdings (LQ) announced that its Board of Directors has formally approved the distribution to its stockholders of all of the outstanding shares of common stock of CorePoint Lodging, which will become the holder of the owned real estate assets previously held by La Quinta. Subject to the satisfaction or waiver of certain conditions, the completion of the CorePoint Lodging spin-off, followed by the completion of the La Quinta Merger, is expected to be completed on May 30, 2018.

May 31, 2018: CorePoint Lodging (CPLG) announced the completion of its spin-off from La Quinta Holdings (LQ) into a stand-alone public company that holds a geographically diverse portfolio of 316 hotels that were previously owned by La Quinta.

Spirit MTA REIT SMTA 08/03/2017 05/31/2018 9.90 10.36 4.65% 103,002 Spirit Realty Capital, Inc. SRC 7.73 8.45 9.31% 3,243,995 Spinoff
Spirit Realty Capital, Inc., spinoff details:

August 3, 2017: Spirit Realty Capital (SRC) announced the planned spin-off of a separate publicly traded REIT ("SpinCo"). Spirit intends to spin-off substantially all of its properties leased to Shopko and its assets that collateralize Master Trust 2014 (part of Spirit's asset-backed securitization program into a separate, publicly traded REIT. Upon completion of the planned spin-off, Spirit stockholders will receive a stock distribution. SpinCo intends to elect to be treated as a REIT for U.S. federal income tax purposes. The spin-off is expected to close by the end of the first half of 2018. SpinCo expects to file a Form 10 registration statement with the Securities and Exchange Commission by the end of the fourth quarter of 2017.

March 6, 2018: Spirit Realty Capital (SRC) announced that its subsidiary, Spirit MTA REIT ("SMTA"), has publicly filed with the U.S. Securities and Exchange Commission a registration statement on Form 10 in connection with the previously announced spin-off of certain assets of the Company into SMTA and the subsequent distribution of SMTA's common shares of beneficial interest to the Company's common stockholders. The spin-off is currently anticipated to be completed in the first half of 2018.

April 13, 2018: Spirit Realty Capital (SRC) announced that its subsidiary, Spirit MTA REIT, has publicly filed with the U.S. Securities and Exchange Commission an amended registration statement on Form 10 in connection with the previously announced spin-off of certain assets of the Company into SMTA and the subsequent distribution of SMTA's common shares of beneficial interest to the Company's common stockholders. The spin-off is currently anticipated to be completed in the first half of 2018.

May 1, 2018: Spirit Realty Capital (SRC) announced that its Board of Directors has formally declared the distribution of common stock of Spirit MTA REIT (“SMTA”) in connection with the spin-off of SMTA from Spirit Realty Capital. Following the distribution, SMTA will be an independent, publicly-traded real estate investment trust that owns the assets that collateralize Master Trust 2014, substantially all the properties leased to Shopko Retail Shops Holding Corp. and certain of its affiliates, as well as certain other assets.
The distribution will be made on or about May 31, 2018 to Spirit stockholders of record as of 5:00 PM Eastern Time on May 18, 2018.

May 4, 2018: Spirit Realty Capital (SRC) announced that its subsidiary, Spirit MTA REIT , has publicly filed with the U.S. Securities and Exchange Commission a second amendment to its registration statement on Form 10 in connection with the previously announced spin-off of certain assets of the Company into SMTA and the subsequent distribution of SMTA's common shares of beneficial interest to the Company's common stockholders.

May 21, 2018: Spirit MTA REIT entered into a Separation and Distribution Agreement with Spirit Realty Capital (SRC) to effect the spin-off of the Company from SRC and provide a framework for the relationship between the Company and SRC after the spin-off.

May 31, 2018: Spirit Realty Capital (SRC) completed the previously announced spin-off of Spirit MTA REIT (SMTA) through the taxable pro rata distribution of all of the outstanding common shares of beneficial interest of the Company to SRC’s holders of record as of the close of business on May 18, 2018, the record date of the distribution. Each holder of SRC common stock received one common share of SMTA for every ten shares of SRC common stock held as of the record date.

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