Kimberly-Clark healthcare spinoff could be completed in 4Q14
full statement : {http://investor.kimberly-clark.com/releasedetail.cfm?ReleaseID=841266}
Kimberly-Clark Corporation (NYSE: KMB) announced during its first quarter 2014 earnings call that the spinoff of its healthcare segment could potentially be pushed to the fourth quarter.
In a portion of the earnings press release providing an update on the spinoff, it stated:
In November 2013, Kimberly-Clark announced that it was pursuing a tax-free spin-off of its health care business. A spin-off would create a stand-alone, publicly traded health care company with approximately USD 1.6bn in annual net sales and leading market positions in both surgical and infection prevention products and medical devices.
Company management continues to analyze the potential spin-off and expects to seek approval from the Board of Directors to file a Form 10 registration statement with the SEC in early May. Kimberly-Clark expects that the spin-off will be completed at the end of the third quarter or potentially in the fourth quarter of 2014, assuming Board approval and subject to market, regulatory and other conditions.
As previously reported, the spin-off would create a stand-alone, publicly traded health care company with leading market positions in both surgical and infection prevention products and medical devices.