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."

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 28, 2018: Alliqua BioMedical (ALQA) and TO Pharmaceuticals announced plans for Alliqua to spin off its AquaMed Technologies subsidiary and merge it with TOP, creating a new public bio-pharmaceutical company to be called TO Pharma. The transaction has been approved by the boards of both Alliqua and TOP and is expected to close by the first quarter of 2019.

April 11, 2019: Alliqua BioMedical (ALQA) announced that its Board of Directors has declared a special cash dividend of $1.05 for each share of common stock outstanding as of the close of business on April 22, 2019 (the “Record Date”), subject to the conditions described below. Alliqua also announced that its Board of Directors has set the Record Date as the record date for determining stockholders entitled to receive shares of AquaMed Technologies, Inc., which is currently a wholly-owned subsidiary of Alliqua that develops, manufactures and markets high water content, electron beam cross-linked aqueous polymer sheet hydrogel products into a new, publicly traded company, in connection with Alliqua’s spin-off of AquaMed.

May 6, 2019: Adynxx (ADYX) announced the completion of its merger with Alliqua BioMedical, Inc. In connection with the merger, Alliqua has changed its name to Adynxx, Inc. The combined organization will commence trading on May 6, 2019 on the Nasdaq Capital Market under the symbol “ADYX.” Adynxx will pay the previously announced special cash dividend of $1.05 per share as soon as practicable following consummation of the reverse stock split and merger. In addition, Adynxx intends to consummate the previously announced distribution of shares of AquaMed Technologies, Inc., currently a wholly-owned subsidiary of Adynxx, as soon as practicable following the satisfaction of all conditions to closing of the previously announced merger transaction between AquaMed and TO Pharmaceuticals, LLC, and in any event, no later than June 21, 2019.

December 11, 2015: DuPont (DD) and The Dow Chemical Company (DOW) announced that their boards of directors unanimously approved a definitive agreement under which the companies will combine in an all-stock merger of equals. The combined company will be named DowDuPont. The parties intend to subsequently pursue a separation of DowDuPont into three independent, publicly traded companies through tax-free spin-offs. This would occur as soon as feasible, which is expected to be 18-24 months following the closing of the merger, subject to regulatory and board approval.

August 4, 2017: DuPont (DD) and The Dow Chemical Company (DOW) announced that all required regulatory approvals and clearances have been received, that all conditions to closing of their merger of equals have been satisfied, and that their merger of equals will close after the market closes on August 31, 2017. Shares of Dow and DuPont will cease trading at the close of the New York Stock Exchange on August 31. Shares of DowDuPont will begin trading on the NYSE under the stock ticker symbol “DWDP” on September 1, 2017. The companies continue to expect the intended spin-offs to occur within 18 months of closing.

September 1, 2017: DowDuPont (DWDP) announced the successful completion of the merger of equals between The Dow Chemical Company and E.I. du Pont de Nemours & Company (“DuPont”), effective Aug. 31, 2017. The combined entity is operating as a holding company under the name “DowDuPont™” with three divisions – Agriculture, Materials Science and Specialty Products.

September 12, 2017: DowDuPont (DWDP) announced that its Board of Directors and management, with the assistance of independent advisors, have completed their comprehensive review of the portfolio composition of the three intended independent companies. Following the portfolio realignments, the three intended companies of DowDuPont are as follows:
1) A leading Agriculture Company
2) A leading Materials Science Company
3) A leading Specialty Products Company

On a forecasted 2017 basis, the businesses that will be realigned to the Specialty Products Division account for total net sales of more than $8 billion and operating EBITDA of approximately $2.4 billion, including approximately 40 percent of the heritage Dow Corning EBITDA. Relative to the original merger agreement, the adjustments are as follows:

- Approximately $4 billion of net sales from the heritage Dow portfolio, evenly split between the Consumer Solutions and Infrastructure Solutions segments; and

- Approximately $4 billion of net sales from the heritage DuPont Performance Polymers business moving to the Specialty Products Division.

October 26, 2017: DowDuPont (DWDP) filed a  Form 8-K reflecting the new segment structure of DowDuPont. Following the Merger, new reportable segments were created and DowDuPont began to manage and report its operating results through the new reportable segments: Agriculture; Performance Materials & Coatings; Industrial Intermediates & Infrastructure; Packaging & Specialty Plastics; Electronics & Imaging; Nutrition & Biosciences; Transportation & Advanced Polymers; Safety & Construction and Corporate. DowDuPont will report geographic information for the following areas: U.S. & Canada, Asia Pacific, Latin America and Europe, Middle East, and Africa ("EMEA"). As a result of the Merger, Dow changed the geographic alignment for the country of India to be reflected in Asia Pacific (previously reported in EMEA) and aligned Puerto Rico to U.S. & Canada (previously reported in Latin America).

February 26, 2018: DowDuPont (DWDP) unveiled the brand names it plans to give the three independent companies it will create following the merger of the former DuPont and Dow Chemical. The company said the agriculture division will be named Corteva Agriscience, the materials science division will be called Dow and the specialty products division will be called DuPont. The materials science division is expected to be spun off by the end of the first quarter of 2019, while agriculture and specialty products are expected to separate by June 1, 2019.

May 31, 2019: DuPont de Nemours, Inc. announced its debut as an independent company following the successful separation of its Agriculture Division through the spin-off of Corteva, Inc. (CTVA). The company was formerly known as DowDuPont Inc. DuPont common stock begins regular way trading today on the New York Stock Exchange (NYSE) under the ticker symbol “DD.”

August 13, 2018: VF Corporation (VFC) announced that its Board of Directors intends to separate the company into two independent, publicly traded companies: VF Corporation, a global apparel and footwear powerhouse, and a yet-to-be named company (NewCo), which will hold VF’s Jeans and VF Outlet businesses and will be a global leader in the denim category. The company expects to create these companies through a tax-free spin-off of NewCo to VF’s shareholders. The separation is currently targeted to be completed in the first half of calendar 2019, subject to final approval by the company’s Board of Directors, customary regulatory approvals and tax and legal considerations.

December 11, 2018: V. F. Corp’s (VFC) put forward the name for its jeanswear segment, which it expects to spin off as an independent, publicly traded company by the first half of fiscal 2019. The company came up with an innovative name — Kontoor Brands, which is a variation of the word ‘contour’.

April 1, 2019: VF Corporation (VFC) announced the public filing of a Form 10 Registration Statement with the U.S. Securities and Exchange Commission in connection with the previously announced separation of VF’s Jeanswear organization into an independent, publicly traded company. The separation is on track to be completed in May of 2019, subject to final approval by VF’s Board of Directors, customary regulatory approvals, and tax and legal considerations.

April 30, 2019: VF Corporation (VFC) announced that its Board of Directors has approved the previously announced separation of VF’s Jeanswear organization into an independent, publicly traded company. The new company, named Kontoor Brands, Inc., will include the Wrangler®, Lee® and Rock & Republic® brands, and the VF OutletTM business. Following the distribution of Kontoor Brands’ common stock on May 22, 2019, Kontoor Brands will be an independent, publicly traded company. Kontoor Brands has received approval for the listing of its common stock on the New York Stock Exchange under the symbol “KTB.”

May 22, 2019: VF Corporation (VFC) announced that it has completed the previously announced separation of VF’s Jeanswear organization into an independent, publicly traded company. Kontoor Brands common stock will begin regular-way trading today on the New York Stock Exchange under the ticker symbol “KTB.”

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."

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 28, 2018: Alliqua BioMedical (ALQA) and TO Pharmaceuticals announced plans for Alliqua to spin off its AquaMed Technologies subsidiary and merge it with TOP, creating a new public bio-pharmaceutical company to be called TO Pharma. The transaction has been approved by the boards of both Alliqua and TOP and is expected to close by the first quarter of 2019.

April 11, 2019: Alliqua BioMedical (ALQA) announced that its Board of Directors has declared a special cash dividend of $1.05 for each share of common stock outstanding as of the close of business on April 22, 2019 (the “Record Date”), subject to the conditions described below. Alliqua also announced that its Board of Directors has set the Record Date as the record date for determining stockholders entitled to receive shares of AquaMed Technologies, Inc., which is currently a wholly-owned subsidiary of Alliqua that develops, manufactures and markets high water content, electron beam cross-linked aqueous polymer sheet hydrogel products into a new, publicly traded company, in connection with Alliqua’s spin-off of AquaMed.

May 6, 2019: Adynxx (ADYX) announced the completion of its merger with Alliqua BioMedical, Inc. In connection with the merger, Alliqua has changed its name to Adynxx, Inc. The combined organization will commence trading on May 6, 2019 on the Nasdaq Capital Market under the symbol “ADYX.” Adynxx will pay the previously announced special cash dividend of $1.05 per share as soon as practicable following consummation of the reverse stock split and merger. In addition, Adynxx intends to consummate the previously announced distribution of shares of AquaMed Technologies, Inc., currently a wholly-owned subsidiary of Adynxx, as soon as practicable following the satisfaction of all conditions to closing of the previously announced merger transaction between AquaMed and TO Pharmaceuticals, LLC, and in any event, no later than June 21, 2019.

December 11, 2015: DuPont (DD) and The Dow Chemical Company (DOW) announced that their boards of directors unanimously approved a definitive agreement under which the companies will combine in an all-stock merger of equals. The combined company will be named DowDuPont. The parties intend to subsequently pursue a separation of DowDuPont into three independent, publicly traded companies through tax-free spin-offs. This would occur as soon as feasible, which is expected to be 18-24 months following the closing of the merger, subject to regulatory and board approval.

August 4, 2017: DuPont (DD) and The Dow Chemical Company (DOW) announced that all required regulatory approvals and clearances have been received, that all conditions to closing of their merger of equals have been satisfied, and that their merger of equals will close after the market closes on August 31, 2017. Shares of Dow and DuPont will cease trading at the close of the New York Stock Exchange on August 31. Shares of DowDuPont will begin trading on the NYSE under the stock ticker symbol “DWDP” on September 1, 2017. The companies continue to expect the intended spin-offs to occur within 18 months of closing.

September 1, 2017: DowDuPont (DWDP) announced the successful completion of the merger of equals between The Dow Chemical Company and E.I. du Pont de Nemours & Company (“DuPont”), effective Aug. 31, 2017. The combined entity is operating as a holding company under the name “DowDuPont™” with three divisions – Agriculture, Materials Science and Specialty Products.

September 12, 2017: DowDuPont (DWDP) announced that its Board of Directors and management, with the assistance of independent advisors, have completed their comprehensive review of the portfolio composition of the three intended independent companies. Following the portfolio realignments, the three intended companies of DowDuPont are as follows:
1) A leading Agriculture Company
2) A leading Materials Science Company
3) A leading Specialty Products Company

On a forecasted 2017 basis, the businesses that will be realigned to the Specialty Products Division account for total net sales of more than $8 billion and operating EBITDA of approximately $2.4 billion, including approximately 40 percent of the heritage Dow Corning EBITDA. Relative to the original merger agreement, the adjustments are as follows:

- Approximately $4 billion of net sales from the heritage Dow portfolio, evenly split between the Consumer Solutions and Infrastructure Solutions segments; and

- Approximately $4 billion of net sales from the heritage DuPont Performance Polymers business moving to the Specialty Products Division.

October 26, 2017: DowDuPont (DWDP) filed a  Form 8-K reflecting the new segment structure of DowDuPont. Following the Merger, new reportable segments were created and DowDuPont began to manage and report its operating results through the new reportable segments: Agriculture; Performance Materials & Coatings; Industrial Intermediates & Infrastructure; Packaging & Specialty Plastics; Electronics & Imaging; Nutrition & Biosciences; Transportation & Advanced Polymers; Safety & Construction and Corporate. DowDuPont will report geographic information for the following areas: U.S. & Canada, Asia Pacific, Latin America and Europe, Middle East, and Africa ("EMEA"). As a result of the Merger, Dow changed the geographic alignment for the country of India to be reflected in Asia Pacific (previously reported in EMEA) and aligned Puerto Rico to U.S. & Canada (previously reported in Latin America).

February 26, 2018: DowDuPont (DWDP) unveiled the brand names it plans to give the three independent companies it will create following the merger of the former DuPont and Dow Chemical. The company said the agriculture division will be named Corteva Agriscience, the materials science division will be called Dow and the specialty products division will be called DuPont. The materials science division is expected to be spun off by the end of the first quarter of 2019, while agriculture and specialty products are expected to separate by June 1, 2019.

May 31, 2019: DuPont de Nemours, Inc. announced its debut as an independent company following the successful separation of its Agriculture Division through the spin-off of Corteva, Inc. (CTVA). The company was formerly known as DowDuPont Inc. DuPont common stock begins regular way trading today on the New York Stock Exchange (NYSE) under the ticker symbol “DD.”

August 13, 2018: VF Corporation (VFC) announced that its Board of Directors intends to separate the company into two independent, publicly traded companies: VF Corporation, a global apparel and footwear powerhouse, and a yet-to-be named company (NewCo), which will hold VF’s Jeans and VF Outlet businesses and will be a global leader in the denim category. The company expects to create these companies through a tax-free spin-off of NewCo to VF’s shareholders. The separation is currently targeted to be completed in the first half of calendar 2019, subject to final approval by the company’s Board of Directors, customary regulatory approvals and tax and legal considerations.

December 11, 2018: V. F. Corp’s (VFC) put forward the name for its jeanswear segment, which it expects to spin off as an independent, publicly traded company by the first half of fiscal 2019. The company came up with an innovative name — Kontoor Brands, which is a variation of the word ‘contour’.

April 1, 2019: VF Corporation (VFC) announced the public filing of a Form 10 Registration Statement with the U.S. Securities and Exchange Commission in connection with the previously announced separation of VF’s Jeanswear organization into an independent, publicly traded company. The separation is on track to be completed in May of 2019, subject to final approval by VF’s Board of Directors, customary regulatory approvals, and tax and legal considerations.

April 30, 2019: VF Corporation (VFC) announced that its Board of Directors has approved the previously announced separation of VF’s Jeanswear organization into an independent, publicly traded company. The new company, named Kontoor Brands, Inc., will include the Wrangler®, Lee® and Rock & Republic® brands, and the VF OutletTM business. Following the distribution of Kontoor Brands’ common stock on May 22, 2019, Kontoor Brands will be an independent, publicly traded company. Kontoor Brands has received approval for the listing of its common stock on the New York Stock Exchange under the symbol “KTB.”

May 22, 2019: VF Corporation (VFC) announced that it has completed the previously announced separation of VF’s Jeanswear organization into an independent, publicly traded company. Kontoor Brands common stock will begin regular-way trading today on the New York Stock Exchange under the ticker symbol “KTB.”