KAR Auction Services Upcoming spinoff to KAR Insurance Auto Auction IAA

As another month rolls in the books lets recap the recent spinoff activity and also take a look at what spinoffs the next month will bring:

Spinoffs Completed Prior Month

Not a ton of activity this past month on the spinoff front:

1. May 22nd – VF Corp (VFC) completed the spin off of its jeans business as Kontoor Brands (KTB). Shareholders should have received 1 KTB share for every 7 VFC shares owned and the new company is now a member of the S&P Smallcap 600. I am sure shareholders are hoping its as successful as the Levi’s IPO!

Spinoffs Set For Coming Month

Not much on the calendar for June, but, you never know!

1. June 1st – The month starts off with a bang as DowDupont (DWDP) completes the spinoff of its ag sciences company, Corteva Agrisciences (CTVA). Shareholders will receive 1 Corteva share for every 3 DWDP shares owned. Corteva will join the S&P 500. DowDupont will change its name back to DuPont after the spin and also complete a reverse split. Barron’s thinks Corteva is interesting, but actually recommends one of its competitors, FMC, instead.
2. June – KAR Auction Services (KAR) will spin off Insurance Auto Auctions (IAA) sometime this month.