split-off

[split-awf, -of]

noun

1. the act of separating or splitting away from something else.

2. something that has split or has been split from something else.

3. Commerce.,  a process of reorganizing a corporate structure whereby the capital stock of a division or subsidiary of a corporation or of a newly affiliated company is transferred to the stockholders of the parent corporation in exchange for part of the stock of the latter.

Word History and Origins

Origin of split-off¹

First recorded in 1855–60; noun use of verb phrase split off

Example Sentences

Now, Lennar plans to distribute External link the remaining 20% to its holders in an exchange offer, known as a split-off, in which Lennar’s Class A shareholders can swap their shares for Millrose stock.

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Occidental wouldn’t have to pay taxes on the sale of the chemical business, which would be characterized as a split-off for tax purposes.

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“A split-off would be beneficial for OXY. It would not have to recognize the gain that has accrued in the subsidiary’s stock, which I’m guessing would be quite substantial,” Willens wrote in an email to Barron’s.

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During the hearing, which one of the commissioners said lasted four and a half hours, Gilbert went over his history as a teenage supporter of the civil rights movement and a student activist at Columbia University who grew increasingly radicalized and joined the Weather Underground, a militant split-off from the activist group Students for a Democratic Society.

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South Korea’s National Pension Service, SK Innovation’s No.2 shareholder with an 8.05% stake, on Tuesday voted against the split-off plan, citing concerns about damage to shareholder value.

Read more on Reuters