Note: Premium members can sort this table by 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 and Type.
Premium member can access all Completed Spinoffs.
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 | ||
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detail | Millrose Properties unit | MRP | 12/18/2024 | 02/07/2025 | 25.80 | 22.92 | -11.16% | 5,202,763 | Lennar | LEN | 121.85 | 123.84 | 1.63% | 1,667,854 | Spinoff | |
Lennar , spinoff details: Lennar Corporation (LEN, LEN.B) announced plans for a spinoff through its subsidiary, Millrose Properties, Inc., pending Board approval and customary conditions.
Assets contributed by Lennar include:
Update(s): January 10, 2025: Lennar will spin off 80% of Millrose Properties, distributing one Millrose share per two Lennar shares held as of January 21, 2025, with trading starting February 7. Millrose Class A stock offers 1 vote/share, while Class B (10 votes/share) is non-tradable.
Millrose Stock Details:
Election Period and Taxation:
The distribution of Millrose shares will be taxable to Lennar stockholders. February 7, 2025: Lennar Corporation (LEN) and Millrose Properties (MRP), jointly announced that they have successfully completed the previously announced taxable spin-off of Millrose from Lennar through a distribution of approximately 80% of Millrose's stock to Lennar's stockholders. (Press Release)
Stock Distribution: Lennar shareholders as of January 21, 2025 received one share of Millrose Class A stock (or Class B if elected) for every two shares of Lennar stock. Fractional shares were aggregated and sold in the public market. Millrose Public Trading: Millrose is now an independent, publicly traded company on the NYSE under the symbol “MRP.” 120.98M Millrose Class A shares and 11.82M Class B shares have been distributed, totaling 166M outstanding shares. Lennar retains a 20% stake (33.2M shares), which it plans to dispose of later via spin-off, sale, or offering. Business Focus: Millrose specializes in land purchases, horizontal development, and homesite option agreements for Lennar and other developers. Lennar contributed $5.5B in land assets and $1B in cash to Millrose. Millrose’s book equity value is ~$5.8B (as of Dec. 31, 2024). Financial Structure: $1.3B revolving credit facility, expandable to $2B with additional lender commitments. Millrose will operate as a real estate investment trust (REIT) for tax purposes. Strategic Purpose: The spin-off accelerates Lennar’s shift into a pure-play, asset-light home manufacturer. Millrose aims to become an industry-leading land banking platform supporting Lennar and other builders. Management & Oversight: Millrose is externally managed by Kennedy Lewis Land and Residential Advisors LLC, an affiliate of Kennedy Lewis Investment Management ($25B+ AUM). Stock Distribution:
Millrose Public Trading:
Business Focus:
Financial Structure:
Strategic Purpose:
Management & Oversight: Millrose is externally managed by Kennedy Lewis Land and Residential Advisors LLC, an affiliate of Kennedy Lewis Investment Management ($25B+ AUM). Lennar Corporation Investor Relations
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detail | Twin Hospitality Group | TWNP | 11/04/2024 | 01/30/2025 | 17.10 | 9.95 | -41.81% | 25,119 | FAT Brands Inc. | FAT | 3.81 | 3.75 | -1.57% | 46,627 | Spinoff | |
FAT Brands Inc., spinoff details: FAT Brands (FAT) announced that its operating unit, Twin Hospitality Group Inc. (managing Twin Peaks and Smokey Bones), has filed a Form 10 Registration Statement with the SEC. Planned Spinoff:
Update(s): January 16, 2025: FAT Brands has provided an update on its planned spin-off of Twin Hospitality Group Inc., the operator of Twin Peaks and Smokey Bones restaurant brands. (Press Release) FAT Brands Board Approval: FAT Brands Inc. (NASDAQ: FAT) has approved a special stock dividend distribution of Class A Common Stock ("Twin Common Stock") of Twin Hospitality Group Inc., Ownership Structure:
Key Dates:
Fractional Shares: No fractional shares will be distributed. Instead, these will be sold in the open market, and proceeds will be paid to eligible shareholders as cash. Warrant Holders:
Trading Information:
Financial and Legal Advisors: Clear Street, BTIG, Roth Capital Partners, and ICR Capital are advising the transaction. Legal counsel is provided by Greenberg Traurig, LLP.
Update(s): January 30, 2025: On January 29, 2025, FAT Brands completed the previously announced spin-off of Twin Hospitality Group, distributing approximately 5.0% of Twin Hospitality’s fully diluted Class A Common Stock as a pro rata dividend. Distribution Details: FAT Brands stockholders received 0.1520207 shares of Twin Hospitality’s Class A Common Stock for each share of FAT Brands Class A or Class B common stock held. Record Date: January 27, 2025. Completion Date: January 29, 2025. Independent Company: Following the spin-off, Twin Hospitality became a standalone, publicly traded company. Stock Listing: Twin Hospitality’s shares began trading on the Nasdaq Global Market under the ticker symbol “TWNP”. In connection with the Spin-Off, on January 24, 2025, the Company entered into a Master Separation and Distribution Agreement (the “Master Separation Agreement”) and Tax Matters Agreement (the “Tax Matters Agreement”) with Twin Hospitality, which provide a framework for Twin Hospitality’s on-going relationship with FAT Brands following the Spin-Off.
FAT Brands Investor Relations | ||||||||||||||||
detail | Concentra | CON | 01/03/2024 | 11/25/2024 | 22.13 | 22.72 | 2.67% | 343,358 | Select Medical Holdings Corporation | SEM | 20.85 | 18.65 | -10.55% | 373,310 | Spinoff | |
Select Medical Holdings Corporation, spinoff details:
Select Medical Holdings Corporation (SEM) announced that its board of directors has approved a plan to pursue the separation of Select Medical's wholly-owned occupational health services business, Concentra Group Holdings Parent. The potential separation is intended to be tax-free to Select Medical and its stockholders and be completed in late 2024. Select Medical Holdings Corporation (SEM) announced that its board of directors has approved a plan to pursue the separation of Select Medical's wholly-owned occupational health services business, Concentra Group Holdings Parent. The potential separation is intended to be tax-free to Select Medical and its stockholders and be completed in late 2024.
Update(s): February 27, 2024: Select Medical Holdings Corporation (SEM) announced that it has received a favorable private letter ruling from the Internal Revenue Service (IRS) with respect to the tax-free status of its previously announced plan to pursue a separation of its wholly-owned occupational health services business, Concentra Group Holdings Parent. November 6, 2024: Select Medical approved a special distribution of its 104.09M shares (81.7% ownership) in Concentra Group Holdings (CON) to stockholders. The distribution will occur on November 25, 2024, for stockholders on record as of November 18, 2024. November 19, 2024: Select Medical Holdings (SEM) announced the distribution ratio for its special stock distribution of Concentra Group Holdings (CON) shares. Shareholders as of November 18, 2024, will receive 0.806971 Concentra shares for each Select Medical share held, with cash paid for fractional shares. The distribution, set for November 25, 2024, is intended to be tax-free for U.S. federal income tax purposes. November 25, 2024: Select Medical Holdings Corporation (SEM) completes the spinoff of Concentra Group Holdings (CON).
Select Medical Holdings Investor Relations Concentra Investor Relations
Resources November 12, 2024: Concentra Investor Presentation | ||||||||||||||||
detail | Sunrise Telecom | SNRE | 02/16/2024 | 11/08/2024 | 47 | 47.05 | 0.11% | 352,031 | Liberty Global Ltd. | LBTYA | 10.33 | 11.03 | 6.78% | 2,705,076 | Spinoff | |
Liberty Global Ltd., spinoff details: Liberty Global (LBTYA, LBTYB and LBTYK) announces its intention to spin-off mobile network operator Sunrise and list it as a separate entity on the SIX Swiss Exchange with two classes of shares. Liberty Global said it will invest up to CHF1.5 billion ($1.7 billion) for debt reduction in Sunrise. The listing of Sunrise on the SIX Swiss Exchange is planned for second half of 2024. The proposed spin-off is expected to be tax-free for Liberty Global U.S. shareholders. Liberty Global Investor Relations Update(s): September 9, 2024: Liberty Global will spin off its Swiss telecoms operator Sunrise to shareholders in the fourth quarter of 2024. October 15, 2024: Liberty Global's 100% spin-off of Sunrise will be finalized after a shareholder meeting on October 25, 2024. Distribution
Trading Dates
October 29, 2024: Liberty Global confirmed the Sunrise spin-off for November 12, 2024, with $1.7 billion in debt reduction by year-end. A CHF 240 million dividend is expected in mid-2025, with a future annual dividend policy. November 8, 2024: Liberty Global announced that it has completed the announced spin-off of its Swiss business, Sunrise, into a separate publicly traded company.
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detail | Magnera | MAGN | 02/07/2024 | 11/04/2024 | 21.50 | 22.51 | 4.70% | 451,945 | Berry Global Group | BERY | 64.79 | 70.24 | 8.41% | 543,083 | Reverse Morris Trust | |
Berry Global Group, spinoff details: Berry Global Group, Inc. (BERY) and Glatfelter Corporation (GLT) announced they have entered into definitive agreements for Berry to spin-off and merge the majority of its Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business with Glatfelter to create a leading publicly-traded company in the specialty materials industry.
Update(s): Apr. 17, 2024: Berry Global Group, Inc. (BERY) and Glatfelter Corporation (GLT) announced the achievement of a regulatory milestone in the proposed transaction involving the combination of a majority of Berry’s Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business with Glatfelter, with the expiration of the required waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act. June 25, 2024: Berry Global Group, Inc. (BERY) and Glatfelter Corporation (GLT) announced a key regulatory milestone for their transaction to combine Berry's Health, Hygiene and Specialties segment with Glatfelter. They have now received all necessary approvals and clearances for the merger. Announced on February 7, 2024, Berry and Glatfelter entered into a definitive agreement under which Berry will spin-off and merge its HHNF business with Glatfelter in a Reverse Morris Trust transaction. The transaction, expected to close in the second half of 2024 September 20, 2024: Berry Global Group (BERY) and Glatfelter Corporation (GLT) have announced an online shareholder meeting on October 23, 2024, for Glatfelter shareholders to vote on key matters, including the issuance of additional common stock, a charter amendment to increase authorized shares, and a reverse stock split. These approvals are critical to the proposed Reverse Morris Trust transaction, merging Berry’s Health, Hygiene, and Specialties Global Nonwovens and Films business with Glatfelter. Upon completion, the combined entity will be renamed Magnera Corporation. October 22, 2024: Berry Global Group (BERY) and Glatfelter Corporation (GLT) announced the record date for Berry's spin-off of its Health, Hygiene, and Specialties Global Nonwovens and Films business (HHNF). The record date is set for November 1, 2024, with the spin-off and merger expected to complete on November 4, 2024, pending closing conditions.
October 23, 2024: Glatfelter and Berry Global announced that Glatfelter shareholders have approved all proposals related to the merger of Berry’s Health, Hygiene, and Specialties Global Nonwovens and Films business with Glatfelter. The merger is expected to close on November 4, 2024, subject to closing conditions. In connection with the merger, Glatfelter will implement a 1-for-13 reverse stock split and rebrand as Magnera Corporation, effective November 4, 2024. Post-split, Glatfelter’s stock will trade under a new CUSIP number on a split-adjusted basis. November 1, 2024: Berry Global Group announced the completion of the merger between Berry’s Health, Hygiene and Specialties Global Nonwovens and Films business (HHNF Business) and Glatfelter, resulting in the creation of Magnera Corporation (MAGN), the largest nonwovens company in the world, with a broad platform of solutions for the specialty materials industry. Magnera will begin trading on the NYSE under the new ticker symbol “MAGN” on Tuesday, November 5, 2024. As a result of the transaction, which was structured as a Reverse Morris Trust transaction, each Berry stockholder received 0.276305 shares of Magnera with respect to each share of Berry common stock owned as of November 1, 2024 (which reflects the 1-for-13 reverse stock split effected by Magnera on November 4, 2024). Berry Global Group announced the completion of the merger between Berry’s Health, Hygiene and Specialties Global Nonwovens and Films business (HHNF Business) and Glatfelter, resulting in the creation of Magnera Corporation (MAGN), the largest nonwovens company in the world, with a broad platform of solutions for the specialty materials industry. Magnera will begin trading on the NYSE under the new ticker symbol “MAGN” on Tuesday, November 5, 2024. As a result of the transaction, which was structured as a Reverse Morris Trust transaction, each Berry stockholder received 0.276305 shares of Magnera with respect to each share of Berry common stock owned as of November 1, 2024 (which reflects the 1-for-13 reverse stock split effected by Magnera on November 4, 2024). Berry Global Group Investor Relations
Glatfelter Corporation Investor Relations
Resources | ||||||||||||||||
detail | Everus Construction Group | ECG | 11/02/2023 | 11/01/2024 | 52.49 | 48.14 | -8.29% | 928,927 | MDU Resources | MDU | 15.10 | 16.77 | 11.06% | 1,018,689 | Spinoff | |
MDU Resources, spinoff details:
MDU Resources Group, Inc. (MDU) announced that its board of directors has approved a plan to spin off the company's wholly owned construction services business, MDU Construction Services Group, Inc., to the shareholders of MDU Resources, resulting in two independent, publicly traded companies. The spinoff is expected to be effected as a tax-free spinoff to MDU Resources and its shareholders and be complete in late 2024. MDU Resources Group, Inc. (MDU) announced that its board of directors has approved a plan to spin off the company's wholly owned construction services business, MDU Construction Services Group, Inc., to the shareholders of MDU Resources, resulting in two independent, publicly traded companies. The spinoff is expected to be effected as a tax-free spinoff to MDU Resources and its shareholders and be complete in late 2024. Updates: November 2, 2023: Investor Presentation March 13, 2024: MDU Resources Group (MDU) announced that its construction services business, MDU Construction Services Group has rebranded to Everus Construction Group, Inc. in preparation for the planned tax-free spinoff of the business, expected to be complete late this year. More information about Everus can be found at here. August 8, 2024: During Q2 earnings, MDU Resources reiterated it is working toward a tax-free spinoff of Everus into a separate, publicly traded company. The spinoff is expected to be complete in late 2024. September 16, 2024: Investor Presentation October 2, 2024: MDU Resources Group announced its board's approval of the spinoff of Everus Construction Group, its wholly owned construction services subsidiary. Everus Construction Group, through a pro rata distribution of all the outstanding shares of Everus common stock.
October 17, 2024: Everus Construction Group Investor Day November 1, 2024: MDU Resources Group, announced completion of the spinoff of its construction services subsidiary, Everus Construction Group ECG. Distribution Details: MDU Resources shareholders received one share of Everus for every four MDU shares held as of October 21, 2024. Fractional shares were sold, with proceeds distributed as cash. Trading Info: Everus (ECG) begins regular trading on the NYSE today. MDU Resources will continue trading as "MDU." Advisors: J.P. Morgan Securities LLC and PJT Partners advised on the transaction; Wachtell, Lipton, Rosen & Katz served as legal advisors.
MDU Resources Group, Inc. Investor Relations Resources November 2023 : Announcement November 2, 2023: Investor Presentation September 12, 2024: Form 10-12B September 16, 2024: Investor Presentation Everus Construction Group October 17, 2024: Everus Construction Group Investor Day |
Note: Premium members can sort this table Spinoff Name, Announced Date and Parent Symbol.
Premium member can access all Completed Spinoffs.
Spinoff Name | Announced Date | Parent Symbol | ||||||||||||||
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detail | Millrose Properties unit | 12/18/2024 | LEN | |||||||||||||
Lennar , spinoff details: Lennar Corporation (LEN, LEN.B) announced plans for a spinoff through its subsidiary, Millrose Properties, Inc., pending Board approval and customary conditions.
Assets contributed by Lennar include:
Update(s): January 10, 2025: Lennar will spin off 80% of Millrose Properties, distributing one Millrose share per two Lennar shares held as of January 21, 2025, with trading starting February 7. Millrose Class A stock offers 1 vote/share, while Class B (10 votes/share) is non-tradable.
Millrose Stock Details:
Election Period and Taxation:
The distribution of Millrose shares will be taxable to Lennar stockholders. February 7, 2025: Lennar Corporation (LEN) and Millrose Properties (MRP), jointly announced that they have successfully completed the previously announced taxable spin-off of Millrose from Lennar through a distribution of approximately 80% of Millrose's stock to Lennar's stockholders. (Press Release)
Stock Distribution: Lennar shareholders as of January 21, 2025 received one share of Millrose Class A stock (or Class B if elected) for every two shares of Lennar stock. Fractional shares were aggregated and sold in the public market. Millrose Public Trading: Millrose is now an independent, publicly traded company on the NYSE under the symbol “MRP.” 120.98M Millrose Class A shares and 11.82M Class B shares have been distributed, totaling 166M outstanding shares. Lennar retains a 20% stake (33.2M shares), which it plans to dispose of later via spin-off, sale, or offering. Business Focus: Millrose specializes in land purchases, horizontal development, and homesite option agreements for Lennar and other developers. Lennar contributed $5.5B in land assets and $1B in cash to Millrose. Millrose’s book equity value is ~$5.8B (as of Dec. 31, 2024). Financial Structure: $1.3B revolving credit facility, expandable to $2B with additional lender commitments. Millrose will operate as a real estate investment trust (REIT) for tax purposes. Strategic Purpose: The spin-off accelerates Lennar’s shift into a pure-play, asset-light home manufacturer. Millrose aims to become an industry-leading land banking platform supporting Lennar and other builders. Management & Oversight: Millrose is externally managed by Kennedy Lewis Land and Residential Advisors LLC, an affiliate of Kennedy Lewis Investment Management ($25B+ AUM). Stock Distribution:
Millrose Public Trading:
Business Focus:
Financial Structure:
Strategic Purpose:
Management & Oversight: Millrose is externally managed by Kennedy Lewis Land and Residential Advisors LLC, an affiliate of Kennedy Lewis Investment Management ($25B+ AUM). Lennar Corporation Investor Relations
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detail | Twin Hospitality Group | 11/04/2024 | FAT | |||||||||||||
FAT Brands Inc., spinoff details: FAT Brands (FAT) announced that its operating unit, Twin Hospitality Group Inc. (managing Twin Peaks and Smokey Bones), has filed a Form 10 Registration Statement with the SEC. Planned Spinoff:
Update(s): January 16, 2025: FAT Brands has provided an update on its planned spin-off of Twin Hospitality Group Inc., the operator of Twin Peaks and Smokey Bones restaurant brands. (Press Release) FAT Brands Board Approval: FAT Brands Inc. (NASDAQ: FAT) has approved a special stock dividend distribution of Class A Common Stock ("Twin Common Stock") of Twin Hospitality Group Inc., Ownership Structure:
Key Dates:
Fractional Shares: No fractional shares will be distributed. Instead, these will be sold in the open market, and proceeds will be paid to eligible shareholders as cash. Warrant Holders:
Trading Information:
Financial and Legal Advisors: Clear Street, BTIG, Roth Capital Partners, and ICR Capital are advising the transaction. Legal counsel is provided by Greenberg Traurig, LLP.
Update(s): January 30, 2025: On January 29, 2025, FAT Brands completed the previously announced spin-off of Twin Hospitality Group, distributing approximately 5.0% of Twin Hospitality’s fully diluted Class A Common Stock as a pro rata dividend. Distribution Details: FAT Brands stockholders received 0.1520207 shares of Twin Hospitality’s Class A Common Stock for each share of FAT Brands Class A or Class B common stock held. Record Date: January 27, 2025. Completion Date: January 29, 2025. Independent Company: Following the spin-off, Twin Hospitality became a standalone, publicly traded company. Stock Listing: Twin Hospitality’s shares began trading on the Nasdaq Global Market under the ticker symbol “TWNP”. In connection with the Spin-Off, on January 24, 2025, the Company entered into a Master Separation and Distribution Agreement (the “Master Separation Agreement”) and Tax Matters Agreement (the “Tax Matters Agreement”) with Twin Hospitality, which provide a framework for Twin Hospitality’s on-going relationship with FAT Brands following the Spin-Off.
FAT Brands Investor Relations | ||||||||||||||||
detail | Concentra | 01/03/2024 | SEM | |||||||||||||
Select Medical Holdings Corporation, spinoff details:
Select Medical Holdings Corporation (SEM) announced that its board of directors has approved a plan to pursue the separation of Select Medical's wholly-owned occupational health services business, Concentra Group Holdings Parent. The potential separation is intended to be tax-free to Select Medical and its stockholders and be completed in late 2024. Select Medical Holdings Corporation (SEM) announced that its board of directors has approved a plan to pursue the separation of Select Medical's wholly-owned occupational health services business, Concentra Group Holdings Parent. The potential separation is intended to be tax-free to Select Medical and its stockholders and be completed in late 2024.
Update(s): February 27, 2024: Select Medical Holdings Corporation (SEM) announced that it has received a favorable private letter ruling from the Internal Revenue Service (IRS) with respect to the tax-free status of its previously announced plan to pursue a separation of its wholly-owned occupational health services business, Concentra Group Holdings Parent. November 6, 2024: Select Medical approved a special distribution of its 104.09M shares (81.7% ownership) in Concentra Group Holdings (CON) to stockholders. The distribution will occur on November 25, 2024, for stockholders on record as of November 18, 2024. November 19, 2024: Select Medical Holdings (SEM) announced the distribution ratio for its special stock distribution of Concentra Group Holdings (CON) shares. Shareholders as of November 18, 2024, will receive 0.806971 Concentra shares for each Select Medical share held, with cash paid for fractional shares. The distribution, set for November 25, 2024, is intended to be tax-free for U.S. federal income tax purposes. November 25, 2024: Select Medical Holdings Corporation (SEM) completes the spinoff of Concentra Group Holdings (CON).
Select Medical Holdings Investor Relations Concentra Investor Relations
Resources November 12, 2024: Concentra Investor Presentation | ||||||||||||||||
detail | Sunrise Telecom | 02/16/2024 | LBTYA | |||||||||||||
Liberty Global Ltd., spinoff details: Liberty Global (LBTYA, LBTYB and LBTYK) announces its intention to spin-off mobile network operator Sunrise and list it as a separate entity on the SIX Swiss Exchange with two classes of shares. Liberty Global said it will invest up to CHF1.5 billion ($1.7 billion) for debt reduction in Sunrise. The listing of Sunrise on the SIX Swiss Exchange is planned for second half of 2024. The proposed spin-off is expected to be tax-free for Liberty Global U.S. shareholders. Liberty Global Investor Relations Update(s): September 9, 2024: Liberty Global will spin off its Swiss telecoms operator Sunrise to shareholders in the fourth quarter of 2024. October 15, 2024: Liberty Global's 100% spin-off of Sunrise will be finalized after a shareholder meeting on October 25, 2024. Distribution
Trading Dates
October 29, 2024: Liberty Global confirmed the Sunrise spin-off for November 12, 2024, with $1.7 billion in debt reduction by year-end. A CHF 240 million dividend is expected in mid-2025, with a future annual dividend policy. November 8, 2024: Liberty Global announced that it has completed the announced spin-off of its Swiss business, Sunrise, into a separate publicly traded company.
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detail | Magnera | 02/07/2024 | BERY | |||||||||||||
Berry Global Group, spinoff details: Berry Global Group, Inc. (BERY) and Glatfelter Corporation (GLT) announced they have entered into definitive agreements for Berry to spin-off and merge the majority of its Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business with Glatfelter to create a leading publicly-traded company in the specialty materials industry.
Update(s): Apr. 17, 2024: Berry Global Group, Inc. (BERY) and Glatfelter Corporation (GLT) announced the achievement of a regulatory milestone in the proposed transaction involving the combination of a majority of Berry’s Health, Hygiene and Specialties segment to include its Global Nonwovens and Films business with Glatfelter, with the expiration of the required waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act. June 25, 2024: Berry Global Group, Inc. (BERY) and Glatfelter Corporation (GLT) announced a key regulatory milestone for their transaction to combine Berry's Health, Hygiene and Specialties segment with Glatfelter. They have now received all necessary approvals and clearances for the merger. Announced on February 7, 2024, Berry and Glatfelter entered into a definitive agreement under which Berry will spin-off and merge its HHNF business with Glatfelter in a Reverse Morris Trust transaction. The transaction, expected to close in the second half of 2024 September 20, 2024: Berry Global Group (BERY) and Glatfelter Corporation (GLT) have announced an online shareholder meeting on October 23, 2024, for Glatfelter shareholders to vote on key matters, including the issuance of additional common stock, a charter amendment to increase authorized shares, and a reverse stock split. These approvals are critical to the proposed Reverse Morris Trust transaction, merging Berry’s Health, Hygiene, and Specialties Global Nonwovens and Films business with Glatfelter. Upon completion, the combined entity will be renamed Magnera Corporation. October 22, 2024: Berry Global Group (BERY) and Glatfelter Corporation (GLT) announced the record date for Berry's spin-off of its Health, Hygiene, and Specialties Global Nonwovens and Films business (HHNF). The record date is set for November 1, 2024, with the spin-off and merger expected to complete on November 4, 2024, pending closing conditions.
October 23, 2024: Glatfelter and Berry Global announced that Glatfelter shareholders have approved all proposals related to the merger of Berry’s Health, Hygiene, and Specialties Global Nonwovens and Films business with Glatfelter. The merger is expected to close on November 4, 2024, subject to closing conditions. In connection with the merger, Glatfelter will implement a 1-for-13 reverse stock split and rebrand as Magnera Corporation, effective November 4, 2024. Post-split, Glatfelter’s stock will trade under a new CUSIP number on a split-adjusted basis. November 1, 2024: Berry Global Group announced the completion of the merger between Berry’s Health, Hygiene and Specialties Global Nonwovens and Films business (HHNF Business) and Glatfelter, resulting in the creation of Magnera Corporation (MAGN), the largest nonwovens company in the world, with a broad platform of solutions for the specialty materials industry. Magnera will begin trading on the NYSE under the new ticker symbol “MAGN” on Tuesday, November 5, 2024. As a result of the transaction, which was structured as a Reverse Morris Trust transaction, each Berry stockholder received 0.276305 shares of Magnera with respect to each share of Berry common stock owned as of November 1, 2024 (which reflects the 1-for-13 reverse stock split effected by Magnera on November 4, 2024). Berry Global Group announced the completion of the merger between Berry’s Health, Hygiene and Specialties Global Nonwovens and Films business (HHNF Business) and Glatfelter, resulting in the creation of Magnera Corporation (MAGN), the largest nonwovens company in the world, with a broad platform of solutions for the specialty materials industry. Magnera will begin trading on the NYSE under the new ticker symbol “MAGN” on Tuesday, November 5, 2024. As a result of the transaction, which was structured as a Reverse Morris Trust transaction, each Berry stockholder received 0.276305 shares of Magnera with respect to each share of Berry common stock owned as of November 1, 2024 (which reflects the 1-for-13 reverse stock split effected by Magnera on November 4, 2024). Berry Global Group Investor Relations
Glatfelter Corporation Investor Relations
Resources | ||||||||||||||||
detail | Everus Construction Group | 11/02/2023 | MDU | |||||||||||||
MDU Resources, spinoff details:
MDU Resources Group, Inc. (MDU) announced that its board of directors has approved a plan to spin off the company's wholly owned construction services business, MDU Construction Services Group, Inc., to the shareholders of MDU Resources, resulting in two independent, publicly traded companies. The spinoff is expected to be effected as a tax-free spinoff to MDU Resources and its shareholders and be complete in late 2024. MDU Resources Group, Inc. (MDU) announced that its board of directors has approved a plan to spin off the company's wholly owned construction services business, MDU Construction Services Group, Inc., to the shareholders of MDU Resources, resulting in two independent, publicly traded companies. The spinoff is expected to be effected as a tax-free spinoff to MDU Resources and its shareholders and be complete in late 2024. Updates: November 2, 2023: Investor Presentation March 13, 2024: MDU Resources Group (MDU) announced that its construction services business, MDU Construction Services Group has rebranded to Everus Construction Group, Inc. in preparation for the planned tax-free spinoff of the business, expected to be complete late this year. More information about Everus can be found at here. August 8, 2024: During Q2 earnings, MDU Resources reiterated it is working toward a tax-free spinoff of Everus into a separate, publicly traded company. The spinoff is expected to be complete in late 2024. September 16, 2024: Investor Presentation October 2, 2024: MDU Resources Group announced its board's approval of the spinoff of Everus Construction Group, its wholly owned construction services subsidiary. Everus Construction Group, through a pro rata distribution of all the outstanding shares of Everus common stock.
October 17, 2024: Everus Construction Group Investor Day November 1, 2024: MDU Resources Group, announced completion of the spinoff of its construction services subsidiary, Everus Construction Group ECG. Distribution Details: MDU Resources shareholders received one share of Everus for every four MDU shares held as of October 21, 2024. Fractional shares were sold, with proceeds distributed as cash. Trading Info: Everus (ECG) begins regular trading on the NYSE today. MDU Resources will continue trading as "MDU." Advisors: J.P. Morgan Securities LLC and PJT Partners advised on the transaction; Wachtell, Lipton, Rosen & Katz served as legal advisors.
MDU Resources Group, Inc. Investor Relations Resources November 2023 : Announcement November 2, 2023: Investor Presentation September 12, 2024: Form 10-12B September 16, 2024: Investor Presentation Everus Construction Group October 17, 2024: Everus Construction Group Investor Day |