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Full Analysis
The ongoing Coronavirus outbreak has led to the suspension of the current NBA season and the broad implementation of curfews around the country on non-essential travel, resulting in the selloff in the major indices. The Madison Square Garden Co. (MSG) has decreased by -34.3% YTD compared to the S&P Total Market Cap Index return of -27.6% to date, making the upcoming Spinoff of the Entertainment business even more attractive at these lower levels.
17 March 2020
Full Analysis
We entered Arconic, Inc. (ARNC) in May 2019 on the back of major insider buying patterns (we booked partial profit of +18% within three months), and now the long-awaited Spinoff of Arconic Corp. (ARNC, Spin) is upon us, scheduled for April 3, 2020. ARNC (Parent) is renaming to Howmet Aerospace, Inc. (HWM), and with many different elements involved, our analysis lays out how best to play this aerospace/aluminum split.
17 March 2020
Full Analysis
In-line with the previous successful Spinoff of its commercial and residential security business Allegion Plc (ALLE, which has more than doubled its share price since listing), Ingersoll-Rand Plc (IR) is prepared for its Reverse Morris Trust (RMT) transaction of its Industrials business to be merged with listed Gardner Denver Holdings, Inc. (GDI), which will become a global leader in mission-critical flow creation and industrial technologies. Click in for more on this upcoming RMT.
20 February 2020
Full Analysis
Under pressure from its largest shareholder and activist investor ValueAct, Trinity Industries, Inc. (TRN) announced in December 2017 that it planned to Spinoff its infrastructure related business into a separate entity Arcosa, Inc. (ACA), while retaining its core rail car manufacturing and leasing business. The Nov 1 separation creates an opportunity for the new management to focus on the smaller Spinoff entity, which is growth-focused and is expected to benefit from US infrastructure spending.
09 October 2018
Full Analysis
DLPH to Become a Niche High-Margin, High-Growth Entity / Relatively Undervalued Compared to Its Peers / Chance of a Multiple Re-Rating Post-Spin
26 June 2017