Every Spin-Off
Every Spin-Off #5: Magnum
The freezer that left Unilever, the debt that came with it, and who wrote the contracts.
The spin-off calendar
Every corporate separation, dated and documented.
Upcoming and completed spin-offs in the US and Europe, with the press release, investor presentation and prospectus one click away. Independent research rebuilds the carve-out financials for the situations worth owning.
Every Sunday: new separations and changed dates. Deep dives on Tuesdays. Delivered by Substack; unsubscribe at any time.
Next distribution Deal page →
| Milestone | Date |
|---|---|
| Record date | 20 Oct 2026 |
| When-issued trading (MSGR WI) | 21 Oct 2026 |
| Distribution | 26 Oct 2026 |
| Regular-way trading | 27 Oct 2026 |
2 days to record dateSource: company release
604Documents linked
Completed spin-offs per year
20152026
2015: 28, 2016: 31, 2017: 19, 2018: 24, 2019: 15, 2020: 16, 2021: 21, 2022: 18, 2023: 28, 2024: 21, 2025: 21, 2026: 23Next 90 days
Full pipeline →| Date | Company | Event | Parent | Status |
|---|---|---|---|---|
| 20 Oct 2026 | MSG Rangers Corp. MSGR | Record date | Madison Square Garden Sports | Date set |
| 21 Oct 2026 | MSG Rangers Corp. MSGR | When-issued trading (MSGR WI) | Madison Square Garden Sports | Date set |
| 26 Oct 2026 | MSG Rangers Corp. MSGR | Distribution | Madison Square Garden Sports | Date set |
| 27 Oct 2026 | MSG Rangers Corp. MSGR | Regular-way trading | Madison Square Garden Sports | Date set |
| 28 Oct 2026 | tk AccelisEU | First trading day (reported target) | thyssenkrupp | Announced |
| 31 Oct 2026 | WISA GroupEU | Demerger effective (planned) | UPM-Kymmene | Date set |
| 2 Nov 2026 | Axiom Solutions International AXM | Flex EGM on the spin | Flex | Form 10 public |
| 2 Nov 2026 | WISA GroupEU | First trading day (expected) | UPM-Kymmene | Date set |
| 3 Nov 2026 | Global Coffee Co. | Russ Torres starts as Global Coffee CEO | Keurig Dr Pepper | Announced |
| 3 Nov 2026 | Bergslagets SkogarEU | Capital markets day, Stockholm | Stora Enso | Announced |
| 10 Nov 2026 | Axiom Solutions International AXM | Innovation Day, Austin | Flex | Form 10 public |
| 11 Nov 2026 | Trinzic, Inc. TZIC | KBR investor day | KBR | Form 10 public |
Latest research
All reports →
Every used car in America has a history
Every Spin-Off #4: Mobility Global, the CARFAX spin-off from S&P Global.
Versant: Willing and available
Comcast's cable networks on their own: CNBC, MS NOW, USA, Golf Channel, Fandango.
Europe
European spin-offs →56 European separations on file, from FTSE companies to micro caps on First North, Spotlight and Euronext Growth.
How the work is done
Methodology →01Reconstruction
Carve-out financials are rebuilt as if the business had always traded alone: allocated overhead, TSA pricing and stand-alone public-company costs.
02Two entities
The spin-off and the remaining parent are valued separately, together with the agreements that bind them.
03Evidence-based screen
An eight-factor rubric from the academic literature on spin-off returns: focus, leverage, information asymmetry, incentives, index selling.
04Dated record
Every price target carries a date, a horizon and its assumptions, and stays published.