Factbox-Some of the biggest splits in Corporate America

·2 min read

(Reuters) -General Electric Co said on Tuesday it would split into three public companies focusing on energy, healthcare and aviation as the industrial conglomerate seeks to simplify its business, pare debt and enhance its battered share price.

The move comes in the wake of some major U.S. corporate split-ups in the past, as listed below.

YEAR COMPANY

1984 AT&T Inc In 1974, the U.S. government

filed an antitrust lawsuit

against AT&T Corp because it had

a monopoly on telephone lines.

After eight years of litigation,

the two sides reached a

settlement that led to AT&T

giving up control of its

regional operating companies, or

Baby Bells. (https://reut.rs/3mWDI3Q)

2015 Ebay Inc In June 2015, e-commerce firm

eBay Inc approved the spinoff of

PayPal, which is up 431% since

it began trading. EBay rose 168%

during that time frame. (https://www.ebayinc.com/stories/news/ebay-inc-board-approves-completion-of-ebay-and-paypal-separation/)

2015 Hewlett Packard Co In November 2015,

Hewlett-Packard split into two

listed companies. Hewlett

Packard Enterprise, which

comprises the corporate hardware

and service business, while

Hewlett-Packard, which was

renamed HP Inc, comprises the

computers and printers business.

Both stocks have risen since

that time with HPE up 81.5% and

HPQ up 159.6%.(https://reut.rs/3og9c4i)

2016 Honeywell In September 2016, Honeywell

International International Inc, a U.S.

manufacturer of aerospace parts

and climate control systems,

approved the spinoff its $1.3

billion resins and chemicals

operations into a standalone

company, AdvanSix Inc. That

stock is up 200.4% since it

began trading, while Honeywell

rose 105% during that time

period. (https://reut.rs/3F36dTY)

2019 DuPont In April 2019, DowDuPont Inc

spun off its material science

division Dow, Inc, followed in

June 2019 with agriscience

company Corteva, as part of its

breakup into three companies.

Since the starts of their

trading, Dow is up 13.9%,

Corteva is up 77.4%, but DuPont

was only about 4.6% higher. (https://reut.rs/31McHYU)

2020 United Technologies In March 2020, United

Technologies Corp approved the

spinoffs of Carrier Global

Corporation and Otis Worldwide

Corporation. Carrier has climbed

312% and Otis rose 89.9% since

they commenced trading. (https://www.prnewswire.com/news-releases/united-technologies-board-of-directors-approves-separation-of-carrier-and-otis-and-declares-spin-off-distribution-of-carrier-and-otis-shares-301021893.html)

2021 IBM IBM spun off a large chunk of

its company, the managed and

infrastructure business, as

Kyndryl in November 2021, as the

century-old tech company shed

its slow-growing business to

focus on high-margin cloud and

artificial intelligence

businesses. Kyndryl was down 27%

since it began trading earlier

this month and IBM dipped 0.47%

since then.

(Reporting by Chavi Mehta and Tiyashi Datta in Bengaluru and Karen Pierog in Chicago and Lewis Krauskopf in New YorkEditing by Matthew Lewis)

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