We have a wealth of experience helping clients successfully execute spin-offs, split-offs, carve-outs and carve-out IPOs and Reverse Morris Trust transactions.
We have advised on many of the most noteworthy spin-offs of recent years, including:
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The ODP Corporation in its announced plan to spin off its Business-to-Business (B2B) solutions provider into an independent, publicly traded company (2021)
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Dell Technologies Inc. in the spin-off its 81% equity ownership interest in VMware, Inc. (2021)
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Special Committee of the Board of Directors of SunPower Corporation in the spin-off of SunPower and Maxeon Solar Technologies into two independent publicly traded companies (2020)
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La Quinta Holdings Inc. in the spin-off of its real estate business into a new independent publicly traded company called CorePoint Lodging Inc. (2018)
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Dover Corporation in the spin-off of its upstream oil and gas business into a new independent publicly traded company called Apergy Corporation (2018)
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Hilton Worldwide Holdings Inc. on the spin-offs of the bulk of its real estate business, Park Hotels & Resorts Inc., as a publicly traded real estate investment trust (REIT), and of its timeshare business, Hilton Grand Vacations Inc., as a separate publicly traded company (2017)
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Blackstone in the spin-off of its financial advisory and Park Hill fund placement businesses (which were combined with PJT Partners as part of the transaction) (2015)
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PPL Corporation in its Reverse Morris Trust transaction with Riverstone Holdings to combine their merchant power generation businesses into a stand-alone, publicly listed independent power producer called Talen Energy Corporation (2015)
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Exelis Inc. in the spin-off of Vectrus, Inc., its military and government services business (2014)
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Ingersoll-Rand plc in the spin-off of Allegion plc, its commercial and residential security businesses (2013)
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SAIC, Inc. in the spin-off of SAIC Gemini, Inc., its technical, engineering and enterprise information technology services business (2013)
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ARAMARK Corporation in its spin-off of Seamless North America, LLC (2012)
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Sears Holdings Corporation in the spin-off of Sears Canada Inc. (2012)
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Tyco International Ltd in the spin-offs of The ADT Corporation, its North American residential security business and Tyco Flow Control International Ltd., its flow control and fire safety businesses (2012)
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Tyco International Ltd in the Reverse Morris Trust transaction involving Tyco Flow Control and Pentair (2012)
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ITT Corporation in the spin-offs of Exelis Inc., ITT’s Defense & Information Solutions segment and Xylem Inc., ITT’s water-related businesses (2011)
Our spin-off clients receive seamless, integrated service from our market leading M&A, Capital Markets, Tax and Executive Compensation and Employee Benefits practices, enabling them to undertake these complex and multi-faceted transactions with confidence.