Posted on 03/12/2007 4:08:54 AM PDT by markomalley
HOUSTON, Texas – Halliburton Company (NYSE: HAL) today announced that its board of directors has approved a plan under which Halliburton will dispose of its remaining interest in KBR, Inc. (NYSE: KBR) through a split-off exchange offer to Halliburton’s stockholders. Under the anticipated terms, Halliburton will offer the 135,627,000 shares of KBR common stock that it owns to Halliburton’s stockholders in exchange for shares of Halliburton common stock at an exchange ratio to be determined by a specified formula. If the exchange offer is completed but not fully subscribed, Halliburton will distribute to its stockholders by means of a special dividend, on a pro rata basis, any remaining shares of KBR common stock.
(Excerpt) Read more at halliburton.com ...
The process began last November with KBR announcing an IPO.
Really wish the media would do even the slightest amount of homework before getting worked up...
WOOHOO! More stock to try to keep track of the cost basis for. UNNNGH!
Could Soris be behind this - with his stock purchase?
Soros purchased his stock in February 2007. The KBR IPO was announced in November, 2006. So, I'd have to say no. But, he is a slick investor...because with this exchange, that'll mean he has stock in both companies.
I read on the other, related, thread about how much of an investment he had in Halliburton - not all that much in terms of the company's worth.
I think a million shares-- about 2%.
ABC led off their AM news today with the "horrified" news that Halliburton is moving headquarters to Dubai and that now Congress will most likely hold hearings into this move. And Schumer really doesn't like it so I am for it. :o)
When the media began spinning about Halliburton and Cheney way back when, I bought 100 shares of Halliburton. What a great investment that has been! Now, I have 200 shares because of the split. My question to you is: Would or are you going to take the KBR stock exchange or continue to hold just Halliburton? I'm totally clueless about this. I've done some research and read some of the SEC filings and I'm still clueless.
Your thoughts would be appreciated.
Thanks for the info, berserker. My gut instinct is to keep the Halliburton but the more information the better.
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