On February 6, 2014, Dover (DOV) announced its board approved the spinoff of a portion of its high-growth communications technologies business, Knowles Corp. Knowles (KN) focuses on the design and manufacture of components in consumer electronics, medical and telecom. Knowles has a leading position in MEMS headphones, speakers and receivers used in smartphones and tablets. It has parts in devices such as Apple’s iPhone. Dover plans to remain a diversified industrial company. As with most spinoffs, managements believes the spinoff will unlock significant shareholder value under a sum of the parts valuation. The distribution of Knowles will happen after market close on Febuary 28, 2014. On March 3, 2014, shares will begin trading on the NYSE under the symbol (KN). Source: WSJ, Forbes, Form 10
Spin-Off
