Computer Sciences (CSC) announced a milestone in the planned spin-off of its U.S. public sector business into a separate, publicly traded company with the filing of an initial Form 10 Registration Statement with the U.S. SEC. The intent to separate CSC into two companies – one to serve public sector clients in the U.S. and one to serve commercial and government clients globally – was announced on May 19. The spin-off of the public sector business will be effected through a one-for-one distribution of the new entity’s stock to CSC shareholders, and will include a special dividend of $10.50 per share at closing. Source
Spin-Off
