Via BlueRidge Capital
In May 2013 we published our research on Hospira (HSP) concluding with some suggestive commentary around the value the company might represent to a potential suitor:
Conventional wisdom in the investment banking world would suggest that once a high quality operating segment is spun-off from a larger conglomerate, it is only logical that it be reacquired years down the road. Academic research suggests that conventional wisdom may be on to something as spin-offs are five times more likely to find themselves the target of an acquisition. Coincidentally, Hospira recently implemented a “Change in Control” document for CEO Michael Ball and other named executives which is set to expire in 2015. We would note that most of...
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