txlaw Posted July 29, 2014 Share Posted July 29, 2014 Apparently, Windstream has obtained a private letter ruling from the IRS potentially allowing them to spin off their network assets (and associated RE assets) into a REIT: http://files.shareholder.com/downloads/ABEA-43PVYW/3363897455x0x771662/dcf1ce80-c65b-4d8e-962f-3b13a6ac15fa/Press%20Release_072914.pdf http://files.shareholder.com/downloads/ABEA-43PVYW/3363897455x0x771664/75c74b53-ccf1-4196-af0d-faaccf6f4d63/Investor%20Presentation_072914.pdf http://www.bloomberg.com/news/2014-07-29/windstream-to-spin-off-telecom-assets-into-publicly-traded-reit.html And they're planning on going forward with this highly unexpected plan. This private letter ruling seems to be a huge gift to the activist hedgies, who have been pushing for these types of spin-offs. For example, I read somewhere the other day that one of the activists wants paper companies to start spinning off their assets into MLPs. Any ideas of potential targets in telecom as well as in other industries for REITs/MLPs? Link to comment Share on other sites More sharing options...
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