(Reuters) – Chemical maker DuPont has become the latest multinational to break up its business, announcing a plan to split the firm into three publicly traded companies.
The firm plans to separate its electronics and water businesses in tax-free transactions, while the new DuPont will continue as a diversified industrial company, it said on Wednesday.
Here is a list of some of the biggest U.S. corporate splits from the recent past.
YEAR COMPANY DESCRIPTION
DuPont says it will
2024 DuPont separate
its electronics and
water businesses in tax-free
transactions, while the new DuPont
will continue as a diversified
industrial company.
Masimo says it is
2024 Masimo Corp evaluating a
proposed spinoff
of its consumer
business, including its consumer
health and audio products. The firm
says it will retain its healthcare
and telehealth products, and that the
spinoff will improve the
profitability of its healthcare
business.
Lionsgate says it will
2023 Lionsgate spin off
its studio unit in a
blank-check deal. Says its studio
business will merge with the
Screaming Eagle Acquisition Corp SPAC
to create a new public firm for
Lionsgate’s film and television
assets.
Citi says
2023 Citigroup it will split
its Mexico retail unit,
known as Banamex, from its corporate
and investment banking business in
the country by the second half of
2024. The retail unit should begin
the process of going public in 2025.
Edwards Lifesciences says
2023 Edwards it will
Lifescience spin off
s its critical care unit
at the end of 2024 to concentrate on
its larger heart devices business.
Western Digital says it
2023 Western will
Digital spin off
its flash memory
business – that has been grappling
with a supply glut – after talks to
merge the unit with Japan’s Kioxia
stall.
2022 Medtronic Medtronic says it will spin off its
patient-monitoring and respiratory
interventions businesses into a new
company as it seeks a streamlined
portfolio and faster revenue growth.
2022 Danaher Medical technology firm Danaher Corp
Corp says it will separate its
Environmental & Applied Solutions
segment to grow its Life Sciences and
Diagnostics businesses.
Labcorp says it will
2022 Laboratory spin off
Corp of its wholly owned
America business focused on clinical drug
Holdings trials. Its Fortrea clinical
development unit is now listed on the
Nasdaq.
3M Co says it plans to
2022 3M Co spin off its healthcare business into
a separate public-listed company. It
says the new company will be called
Solventum
and names Bryan Hanson
CEO.
Kellogg spins off its
2022 Kellogg Co North American cereals business into
WK Kellogg Co and its global snacking
business into
Kellanova
.
AT&T
2022 AT&T spins off
WarnerMedia in a $43
billion transaction to merge its
media properties with Discovery Inc.
The new company is called Warner Bros
Discovery.
Johnson & Johnson says it
2021 Johnson & plans to break up into two companies,
Johnson splitting its consumer health
division. In 2023, it spins off and
lists its consumer health business,
Kenvue
.
General Electric says it
2021 General will
Electric split into three public
Co companies
focusing on energy,
healthcare and aviation. It spins off
its health division, GE HealthCare,
in 2023, followed by GE Aerospace and
its energy unit GE Vernova in April
2024.
2021 IBM IBM spins off a large chunk of its
company – the managed and
infrastructure business – as
Kyndryl in November, as the
century-old tech company sheds its
slow-growing business to focus on its
high-margin cloud and artificial
intelligence businesses.
2020 United In March, United Technologies
Technologie Corp approves the spinoffs of Carrier
s Global Corporation and Otis Worldwide
Corporation.
2019 DuPont DowDuPont Inc spins off its materials
science division Dow Inc in April and
agriscience company Corteva in June –
part of its split into three
companies.
2016 Honeywell In September, Honeywell International
Internation Inc, a U.S. manufacturer of aerospace
al parts and climate control
systems, approves the spinoff of its
$1.3 billion resins and chemicals
operations into a standalone company,
AdvanSix Inc.
2015 Hewlett In November, Hewlett-Packard splits
Packard Co into two listed companies: Hewlett
Packard Enterprise, comprising its
corporate hardware and service
business, and Hewlett-Packard,
renamed HP Inc, consisting of its
computers and printers business.
2015 Ebay Inc In June, e-commerce firm eBay
approves the spinoff of PayPal.
1984 AT&T Inc The U.S. government files an
antitrust lawsuit against AT&T Corp
in 1974 because of its monopoly over
telephone lines. After eight years of
litigation, the two sides reach a
settlement and AT&T gives up
control of its regional operating
companies, Baby Bells.
(Reporting by Vallari Srivastava, Roshia Sabu, Chavi Mehta, Tiyashi Datta, Deborah Sophia, Kannaki Deka, Priyamvada C in Bengaluru and Karen Pierog in Chicago and Lewis Krauskopf in New York; Editing by Matthew Lewis, Anil D’Silva, Sriraj Kalluvila, Arun Koyyur and Pooja Desai)
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