Are You Looking At Any Companies Trading For Less Than the Sum of the Parts?

[BargainValueHunter]

Fortress, Sears Holdings, AIG and other companies have been mentioned here as those that may be worth more broken up than the current stock price reflects.

 

Are there any others that you feel currently trade for less than the sum of their parts?

[Packer16]

BAC and C come to mind as spin-off/break-up candidates.

 

Packer

[thomcapital]

Visteon is another, though I haven't kept up with their progress:

http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/vc-visteon-corp/

[ItsAValueTrap]

Northfield Capital (NFD.A on the Canadian Venture exchange).  Almost everything they own is in stocks or cash.  It is extremely illiquid.

 

[Buckeye]

Loews? May have been mentioned before.

[BargainValueHunter]

Northfield Capital (NFD.A on the Canadian Venture exchange).  Almost everything they own is in stocks or cash.  It is extremely illiquid.

 

 

Northfield? Interesting...thanks!

[eclecticvalue]

vivendi SA

[bookie71]

Any of the "too big to fail" banks.

[StubbleJumper]

There was an article in today's Globe and Mail about the potential acquisition of Safeway Canada for up to $5.5B, which is about the same as the entire market cap of SWY...

[motownsf]

WNMLA trades at huge discount to value of one of its holdings.

[constructive]

Genworth (GNW) plans to continue monetizing non-core assets, including Genworth Australia later this year. It trades at 0.3x tangible book value.

 

Vodafone (VOD) owns 45% of Verizon Wireless, PNC owns 26% of Blackrock, and EMC owns 80% of VMWare.  In my opinion all look very cheap on sum of parts.

 

Also Exor, FFP and Porsche: http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/auto-manufacturers/msg95647/#msg95647

[BargainValueHunter]

Visteon is another, though I haven't kept up with their progress:

http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/vc-visteon-corp/

 

http://www.benzinga.com/analyst-ratings/analyst-color/13/02/3348159/update-jp-morgan-upgrades-visteon-corporation-to-overwei

 

JP Morgan noted, "We upgrade shares of Visteon Corporation (VC) to Overweight from Neutral, on the belief that the firm will act aggressively to fully realize the value of the sum of its various parts and upcoming catalysts that should give investors reason to more highly value its two most compelling assets. Visteon will be hosting two analyst days, on March 12 in Shanghai and on March 14 in Seoul, to highlight the attractiveness of its 50% stake in China-based Yanfeng-Visteon (YFV) and its 70% stake in publicly traded South Korea-based Halla Visteon Climate Control (HVCC)."