Tag Archives: Spinoff

IBM to Split Into Two Public Companies; Arvind Krishna Quoted

Arvind Krishna CEO IBM

IBM (NYSE: IBM) will spin off its managed infrastructure services unit into a public company in a move to focus on its growth strategy for hybrid cloud and advance artificial intelligence capabilities. "Client buying needs for application and infrastructure services are diverging, while adoption of our hybrid cloud platform is accelerating. Now is the right time to create two market-leading companies focused on what they do best,” said IBM CEO Arvind Krishna.

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UTC-Raytheon Merger Deal Set to Close Friday; Thomas Kennedy, Greg Hayes Quoted

United Technologies Corp. (NYSE: UTX) and Raytheon (NYSE: RTN) have set the closure date of their all-stock merger for Friday, April 3, after securing all the regulatory clearances needed to close the transaction. According to a joint statement, the combined company will operate as Raytheon Technologies and trade under the “RTX” ticker symbol on the New York Stock Exchange.

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UTC Board OKs Carrier, Otis Spinoffs; Greg Hayes Quoted

utc-board-oks-carrier-otis-spinoffs-greg-hayes-quoted

The board of directors of United Technologies Corp. (NYSE: UTX) approved the spinoffs of its Carrier and Otis subsidiaries into two independent companies and expects to complete the separations on April 3. "Executing the separations of Carrier and Otis is also a major milestone to completing the merger of UTC's aerospace businesses with Raytheon to create Raytheon Technologies,” Greg Hayes, chairman and CEO of UTC, said in a statement published Wedneday.

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Nuclear Industry Vet David Batters Appointed AECOM SVP, Int’l Sector Lead; John Vollmer Quoted

David Batters, formerly group chief financial officer at the U.K. Nuclear Decommissioning Authority, will serve as AECOM’s (NYSE: ACM) senior vice president and international sector lead for nuclear and environment strategic business unit within the company’s management services group, starting Sept. 1.

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AECOM Board OKs Management Services Group Spinoff Plan

The board of directors at AECOM has approved the company’s plan to separate its management services business as a new publicly traded company that will primarily serve national government clients. AECOM said Monday it expects to complete the spinoff in the second half of its 2020 fiscal year and retain John Vollmer, the segment’s president and a 2019 Wash100 winner,  along with the current management team in the leadership of the future independent company.

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UTC to Split Into Three Firms After Rockwell Collins Deal Completion; Greg Hayes Quoted

United Technologies Corp. (NYSE: UTX) has announced plans to divide into three independent companies after it completed its $30B purchase of Rockwell Collins (NYSE: COL). UTC said Monday it will combine its aerospace systems business with Rockwell Collins to form Collins Aerospace Systems and expects the transaction to be $0.15 to $0.20 …

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Perspecta Begins Trading on NYSE as Independent Firm Under CEO Mac Curtis

Perspecta has begun to trade under the ticker symbol “PRSP” on the New York Stock Exchange after it finalized its separation from DXC Technology (NYSE: DXC) and subsequent merger with Vencore and KeyPoint Government Solutions. The independent publicly traded combined company has 14,000 employees and $4.2 billion in pro-forma revenues, Perspecta said Friday. …

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