Split-Off


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Related to Split-Off: spin-off

Split-Off

A relatively rare situation in which a parent company offers to its shareholders stock in a subsidiary in exchange for a comparable amount of stock in the parent company. This allows the parent company to divest itself of the subsidiary. See also: Splitoff IPO.
References in periodicals archive ?
The service will assess the impact of the split-off on Expedia's credit profile to resolve the "negative" watch.
Regarding the third option, the Service concluded that a spin-off and a split-off are very similar transactions.
The total cost of each of the separate primary products includes (1) an allocated portion of the joint cost, and (2) the cost associated with the primary product after the split-off point.
2) Unless otherwise noted, the term "spin-off" includes, in addition to a pro-rata distribution of stock in a controlled corporation, a split-off (or non-pro rata redemption of the distributing corporation's shareholders for stock of the controlled corporation) and a split-up (or a distribution of multiple controlled corporations resulting generally in a liquidation of the distributing corporation.
CHAPTER 4 Corporate Law Issues in Spin-Off, Split-Up and Split-Off Transactions
SunGard ), one of the world s leading software and technology services companies, announced today that it has completed the tax-free split-off of its Availability Services business.
On July 19, 2012, PPG announced that it would form a new company by separating its commodity chemicals business through a spinoff or split-off, and then immediately merging the business with Georgia Gulf or a Georgia Gulf subsidiary in a Reverse Morris Trust transaction.
Shareholder disputes: In the S corporation context, the primary corporate business purpose for a split-off is shareholder disputes that affect the efficient running of a business.
A group of Pacoima residents and some city officials gathers Friday at the Pacoima library to speak out against secession, arguing that a Valley and Hollywood split-off could only harm Latinos.
Effective June 1, 2012, the Company entered into a definitive Split-Off Agreement ("Split-Off Agreement") with Gemini Gaming LLC ("Gemini") to sell all of its gaming properties, interests and operations (the "Split-Off").
Maffei will discuss the company's financial performance and outlook and may discuss the previously announced split-off of the Liberty Capital and Liberty Starz tracking stock groups.