Emergent BioSolutions $EBS announces spinoff of Biosciences business

Emergent BioSolutions (NYSE:EBS) announced that its Board of Directors has authorized management to pursue a tax-free spin-off of the company’s Biosciences business into a separate, stand-alone publicly-traded company. The spin-off is expected to create two independent public companies with distinct strategic plans, growth strategies, and operational and development priorities. Source