Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul><li>This week, I recommended a new idea: Buy International Gaming Technologies.</li><li>If you are interested in buying IGT, I would recommend doing so on Monday.</li><li>IGT is in the process of selling its Gaming division for $4BN, and the transaction could close as soon as Tuesday, July 1.</li></ul>

This week, I recommended a new idea: Buy International Gaming Technologies.If you are interested in buying IGT, I would recommend doing so on Monday.IGT is in the process of selling its Gaming division for $4BN, and the transaction could close as soon as Tuesday, July 1.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/holcim-ltd-7f60ceaa-51af-4f85-ac5f-114595eb04f3" target="_blank" data-smartkarma-citation="entities:27916" rel="noopener">Holcim (HOLN SW)</a> spun off its construction materials and solutions business into a standalone company on Friday, June 20th.</li>
<li>The new company is called <a href="https://www.smartkarma.com/entities/amrize-ltd" target="_blank" data-smartkarma-citation="entities:45209" rel="noopener">Amrize (AMRZ US)</a>. </li>
<li>The first day of trading will be Monday, June 23, 2025.</li>
</ul>



Holcim (HOLN SW) spun off its construction materials and solutions business into a standalone company on Friday, June 20th.
The new company is called Amrize (AMRZ US). 
The first day of trading will be Monday, June 23, 2025.


<ul><li>Warner Bros. Discovery (WBD) announced on June 9, 2025, its plan to split into two independent, publicly traded companies by mid-2026.</li><li>Global Networks will be the entity that is spun-off. It will consist of legacy cable TV and digital networks, such as: CNN, TBS, TNT (including TNT Sports)...</li><li>CFO Gunnar Wiedenfels will become CEO of this spun‑off entity.<figure class="editor-figure mceNonEditable"></figure></li></ul>

Warner Bros. Discovery (WBD) announced on June 9, 2025, its plan to split into two independent, publicly traded companies by mid-2026.Global Networks will be the entity that is spun-off. It will consist of legacy cable TV and digital networks, such as: CNN, TBS, TNT (including TNT Sports)...CFO Gunnar Wiedenfels will become CEO of this spun‑off entity.

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Fortive Corporation's third quarter results reflect robust operational execution, achieving the upper end of their earnings and free cash flow guidance.</li><li>The growth rates were 14% in adjusted EPS and 12% in free cash flow on a revenue increase of 3%.</li><li>Noteworthy is the strength in Advanced Healthcare Solutions and Intelligent Operating Solutions, with a notable recovery observed in the Precision Technologies segment.</li></ul>

Fortive Corporation's third quarter results reflect robust operational execution, achieving the upper end of their earnings and free cash flow guidance.The growth rates were 14% in adjusted EPS and 12% in free cash flow on a revenue increase of 3%.Noteworthy is the strength in Advanced Healthcare Solutions and Intelligent Operating Solutions, with a notable recovery observed in the Precision Technologies segment.

Fortive Corporation: How Is It Executing Strategic Repositioning Through Spin-offs? - Major Drivers

Founder, CEO, GSBR Research

Garvit Bhandari

Founder, CEO

Leading Provider of Equity and Investment Research

GSBR Research

We are an independent equity research provider focused on covering global markets. The aim of the research is to provide an unbiased view of the fundamentals of the company.

<ul>
<li>On September 4, 2024, Fortive Corp (NYSE: FTV) announced plans to separate its Precision Technologies business into a separate publicly listed company (NewCo), via a tax-free spin-off transaction.</li>
<li>NewCo, being more volatile and lower margin, versus the parent, has been a drag on the overall valuation of FTV.</li>
<li>FTV (ex NewCo) will be a high recurring revenue business with strong free cash flow generation profile. We believe that FTV (ex NewCo) will command a higher multiple.</li>
</ul>


On September 4, 2024, Fortive Corp (NYSE: FTV) announced plans to separate its Precision Technologies business into a separate publicly listed company (NewCo), via a tax-free spin-off transaction.
NewCo, being more volatile and lower margin, versus the parent, has been a drag on the overall valuation of FTV.
FTV (ex NewCo) will be a high recurring revenue business with strong free cash flow generation profile. We believe that FTV (ex NewCo) will command a higher multiple.


Fortive Corp (NYSE: FTV) To Spin-Off Precision Technologies Business

United States

Fortive Corporation operates as a diversified industrial growth company. The Company focuses on professional instrumentation, automation, sensing, and transportation technologies. Fortive serves customers worldwide.

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Fortive (FTV US)

Weekly Update (AMRZ, UNTC, MEDXF, IGT)

This week, I recommended a new idea: Buy International Gaming Technologies. If you are interested in buying IGT, I would recommend doing so on Monday.

Richard Howe

Weekly Update (AMRZ, LION, FTV)

The AMRZ spin-off aims to capitalize on the higher valuation multiples of US building supply companies compared to their European counterparts.

Richard Howe

Weekly Update (WBD, STRZ, MODG)

Warner Bros. Discovery (WBD) announced on June 9, 2025, its plan to split into two independent, publicly traded companies by mid-2026.

Richard Howe

Fortive Corporation: How Is It Executing Strategic Repositioning Through Spin-offs? - Major Drivers

Fortive Corporation's third quarter results reflect robust operational execution, achieving the upper end of their earnings and free cash flow...

Baptista Research

Fortive Corp (NYSE: FTV) To Spin-Off Precision Technologies Business

Fortive Corp to spin off Precision Technologies business into separate publicly listed company, NewCo. Spin-off to unlock value for shareholders.

GSBR Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Weekly Update (AMRZ, UNTC, MEDXF, IGT)

This week, I recommended a new idea: Buy International Gaming Technologies. If you are interested in buying IGT, I would recommend doing so on Monday.

Richard Howe

Weekly Update (AMRZ, LION, FTV)

The AMRZ spin-off aims to capitalize on the higher valuation multiples of US building supply companies compared to their European counterparts.

Richard Howe

Weekly Update (WBD, STRZ, MODG)

Warner Bros. Discovery (WBD) announced on June 9, 2025, its plan to split into two independent, publicly traded companies by mid-2026.

Richard Howe

Fortive Corporation: How Is It Executing Strategic Repositioning Through Spin-offs? - Major Drivers

Fortive Corporation's third quarter results reflect robust operational execution, achieving the upper end of their earnings and free cash flow...

Baptista Research

Fortive Corp (NYSE: FTV) To Spin-Off Precision Technologies Business

​Fortive Corp to spin off Precision Technologies business into separate publicly listed company, NewCo. Spin-off to unlock value for shareholders.

GSBR Research

Fortive Corp to spin off Precision Technologies business into separate publicly listed company, NewCo. Spin-off to unlock value for shareholders.