Which of the following is not true of a split-off?
A split-off is a variation of a spin-off
B. Parent company shareholders receive shares in a subsidiary in return for surrendering their parent company shares
C. Split-offs are best suited for disposing of a less than 100 percent investment stake in a subsidiary,
D. A split-off reduces the parent firm's earnings per share.
E. The split-off reduces the pressure on the spun-off firm’s share price
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Which of the following is a common problem associated with tracking stocks?
A. Tracking stocks often de-motivate managers of the business for which the stock is created
B. Such stocks are too complicated for investors to understand
C. Tracking stocks may create internal operating conflicts among the parent's business units
D. Such stocks often create huge tax liabilities for the parent
E. None of the above
An equity carve-out by a parent of one of its subsidiaries is often a precursor to a
A. Complete divestiture or spin-off of the subsidiary
B. An acquisition
C. A merger
D. Joint venture
E. The creation of a tracking stock
Which of the following is generally not considered a common motive for exiting businesses?
A. Changing strategy or focus
B. Desire to achieve economies of scale
C. Lack of fit with the parent's other businesses
Discarding unwanted businesses from prior acquisitions
E. All of the above
Which of the following is true about a voluntary bust-up?
A. Parent ceases to exist
B. Cash infusion to the parent
C. Parent stock is exchanged for subsidiary stock
D. New shares issued to the public
E. Parent remains in control
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