The Manitowoc Company (MTW) announced that it has approved a plan to pursue a separation of the Company’s Cranes and Foodservice businesses into two independent, publicly-traded companies. The Company expects the tax-free spin-off to be completed in Q1 2016.
We had written previously on MTW four weeks ago (here) when Carl C. Icahn disclosed that he had taken a 7.7% stake in Manitowoc and would be in talks with the management and board over splitting the company. Source
