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

Richard Howe

After graduating from Trinity College in Connecticut, I joined Eaton Vance full-time as an equity research associate. While at Eaton Vance, I completed the Chartered Financial Analyst program and earned the CFA designation. In 2013, I left Eaton Vance to join Citi Private Bank to work in the private equity research group.

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>Fortive (FTV) spun off 1 share of Ralliant (RAL) for each 3 shares owned.</li>
<li>As such, Ralliant has 113MM shares outstanding and a market cap of $5.1BN and enterprise value of $6.1BN.</li>
<li>The rationale for the spin-off is to separate the “BadCo” (Ralliant) from the “GoodCo” (Fortive RemainCo).</li>
</ul>


Fortive (FTV) spun off 1 share of Ralliant (RAL) for each 3 shares owned.
As such, Ralliant has 113MM shares outstanding and a market cap of $5.1BN and enterprise value of $6.1BN.
The rationale for the spin-off is to separate the “BadCo” (Ralliant) from the “GoodCo” (Fortive RemainCo).


Ralliant

Weekly Update (IGT/BRSL, FTV, RAL)