While the Spinoff cycle is fairly predictable with companies announcing break-ups alongside their earnings reports, it's beneficial to have a list of companies currently reviewing their segments and looking for strategic value creation opportunities. To this end, we've added several new names to this month's Special Situations Event Preview under strategic review, which may lead to Spinoff announcements in the coming months. Read on for more.
06 Sep 2019
Earnings season is always a safe bet in anticipating new Spinoff announcements as companies report their value creation initiatives to their shareholders, and this summer is no exception. In July into August, we've seen six major Spinoff announcements (greater than $1bn market cap), primarily in the industrial, healthcare and consumer sectors. Of note, the next break-up to come through on the calendar is one of the new entries in the US - take a look inside for more details.
19 Aug 2019
In addition to the various strategic reviews underway and under coverage in last month's Special Situations Event Preview, we're adding a few recently announced restructurings to the list as we continue to see companies hunting for value through reevaluating their segments and creating returns for shareholders. Under the microscope this month are the restructurings at Kennametal, Inc. (KMT), TreeHouse Foods, Inc. (THS, a 2005 Spinoff from Dean Foods, DF), and Volkswagen AG (VOW GY).
06 Aug 2019
The remainder of 2019 will see the completion of roughly 42% of the Upcoming Global Spinoffs calendar (seven in the US, two in Europe and five across the globe for a total of 14 Spins), meaning 2H 2019 will be packed with break-ups. Each entry includes our key points and links to our most recent articles to give you a leg up on examining these pending situations, making the enclosed calendars your one-stop-shop for intelligence on all global separations.
24 Jul 2019
We're looking at strategic reviews in play (as detailed in the past few editions of the Event Preview), and adding a couple names to the list (Bunge Ltd (BG) and Associated British Foods Plc (ABF LN)), while other companies are seeking ways to reverse their fortunes and follow the market up (see the turnaround stories at Maersk, Doosan Bobcat, and Kroger). The last new name to be added this month is Rocket Internet, which is contemplating going private. Read on for more on these Special Sits.
09 Jul 2019
With over 30 names on the Global Spinoff Calendars (20 of which in the United States), the quiet period over the summer is the best time to look ahead into late Q3 and Q4 for compelling ideas. We expect Madison Square Garden Co. (MSG) to finalize their plan in the coming months for an October Spin, and several companies have guided already for their own break-ups to be completed in the last days of September. Click in for more details on these and other names on the calendars.
27 Jun 2019