Start the conversation
When I was covering Eastman Kodak Co. (NYSE: KODK) for Gannett Newspapers in the mid-1990s, the once-venerable photo giant was going through a restructuring that, at the time, would yield big profits for stockholders. Kodak broke up and auctioned off its Sterling Winthrop pharmaceutical company and, in 1993, spun off its Eastman Chemical Co. (NYSE: EMN) unit to shareholders.
Today, Eastman Chemical is one of the world's top specialty-chemical firms, with an $11.2 billion market cap and $9.65 billion in yearly revenue. And its shares have zoomed 143% over the past 10 years - more than twice the 59% gain in the Standard & Poor's 500 Index. And that doesn't include Eastman's current 2.6% dividend payout.
With a spinoff, even a mature, seemingly humdrum business like chemicals can create windfall profits for investors savvy enough to capitalize.
We've done it here for subscribers -more than a dozen times - turning corporate spinoffs into wealth for you.
Today we're going to do it again -with a "special situation" driverless car play.
We're also keeping a promise - by adding a recommendation to those we gave you here yesterday.
This is premium content for Private Briefing subscribers only.