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not....here is how Silverman accomplishes his mission:
It's really going to happen. The Cendant (NYSE: CD) board has approved the spinoff of its real estate and hospitality subsidiaries. By the end of the month, Cendant shareholders will receive one share of Realogy for every four shares they currently own and a share of Wyndham for every five shares of Cendant owned.
There is no free lunch here. Cendant expects the price of its stock to fall by the equivalent of the distribution, especially since the deal will basically leave it with little more than its Avis and Budget car rental businesses. The company will then look into a 1-for-10 reverse split, which would prop up the share price tenfold while reducing the number of shares outstanding from roughly a billion to 100 million.
Link is here
It's really going to happen. The Cendant (NYSE: CD) board has approved the spinoff of its real estate and hospitality subsidiaries. By the end of the month, Cendant shareholders will receive one share of Realogy for every four shares they currently own and a share of Wyndham for every five shares of Cendant owned.
There is no free lunch here. Cendant expects the price of its stock to fall by the equivalent of the distribution, especially since the deal will basically leave it with little more than its Avis and Budget car rental businesses. The company will then look into a 1-for-10 reverse split, which would prop up the share price tenfold while reducing the number of shares outstanding from roughly a billion to 100 million.
Link is here
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