Split-Off

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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 ?
XigniteSplitOff Accurately Prices Multi-Billion Dollar Split-Off Transactions Via Custom Investor Websites
Xignite, the leading pure-play provider of financial web services for mission-critical corporate applications, today announced the availability of XigniteSplitOff, a complete solution that delivers live stock market data to web applications to power corporate split-off transactions and investor communication.
The split-off of Consumer Products Group will be carried out under the corporate split provisions of the Japanese Commercial Code.
Outline of New Consumer Products Company Company Name: Pending decision President: Pending decision Head Office: Tokyo, Japan Split-off date: April 1, 2002 (provisional) Capital: Pending decision Employees: Approximately 18,000 (at time of split-off) Business: Development, manufacture and sales of consumer products and peripheral systems Sales: About 560 billion yen (The fiscal year ending March 31, 2002) About 600 billion yen (The fiscal year ending March 31, 2004) Outline of Manufacturing Subsidiaries Hitachi Tochigi Technology Co.