Tag: spinoff

Is 3M Spinoff Solventum a Buy? (And What It Means for 3M Investors)

It’s always interesting when a new company comes to market and doubly interesting when it’s a spinoff. In reality, two new companies came out of the spinoff of Solventum (NYSE: SOLV) and 3M (NYSE: MMM) — a newly created healthcare company and an industrial conglomerate without a healthcare business. Introducing Solventum Solventum is a healthcare company […]

J&J to exit spinoff Kenvue with latest stake sale

(Reuters) -Tylenol maker Kenvue said on Monday that Johnson & Johnson will sell its remaining 9.5% stake in the company, about a year after the healthcare conglomerate spun off and listed its consumer health business. Based on Kenvue stock’s last close, the offering of 182.3 million shares would be worth about $3.75 billion, according to […]

TC Energy’s oil pipeline spin-off faces obstacles in bet on US Gulf

By Rod Nickel WINNIPEG, Manitoba (Reuters) – TC Energy’s planned oil pipeline spin-off is a bet that it can supply more Canadian crude to U.S. Gulf of Mexico refiners, but the venture faces stiff competition and will carry high debt when it starts up. The South Bow spin-off, which TC investors will vote on June […]

Another vestige of Carlson travel empire sold, this one to Amex spinoff for $570M

Minneapolis-based CWT, a business travel and meeting management firm that was part of a prominent Minnesota family’s business legacy, will sell to rival American Express Global Business Travel for $570 million, the companies announced Monday. The merger, which should close in the latter half of this year, blends two of the biggest corporate travel entities. […]