Exelis (NYSE: XLS) has announced that its board of directors has approved the distribution to its shareholders of all of the outstanding shares of Vectrus, Inc., its current Mission Systems business division, which will result in two separate publicly traded companies. On September 27, 2014, the distribution date, each Exelis shareholder of record will receive one share of Vectrus common stock for every 18 shares of Exelis common stock held as of the close of business on September 18, 2014, the record date for the distribution. Source: Filing
Spin-Off
