WCG
Wellcare Health Plans Inc.
stock NYSE

Back in fiber build out I bough WCG, Willaims Communcations. Williams (WMB) is an energy company that was laying fiber with it's pipeline and it sounded like a great narrative. I have a friend working for Kewitt and they were backlogged for a long time laying fiber for Level 3 Communications. They had orders booked, sounded like a smart play to me. So long story short. WCG had all the debt and it got spun off and the fiber company went bankrupt a year later.
This is how I learned to that a spin-off isn't always the best thing for the company being spun off. It's how companies unload massive debt on a hot commodity. It did unlock some shareholder value though, for the parent company.

Back in fiber build out I bough WCG, Willaims Communcations. Williams (WMB) is an energy company that was laying fiber with it's pipeline and it sounded like a great narrative. I have a friend working for Kewitt and they were backlogged for a long time laying fiber for Level 3 Communications. They had orders booked, sounded like a smart play to me. So long story short. WCG had all the debt and it got spun off and the fiber company went bankrupt a year later.
This is how I learned to that a spin-off isn't always the best thing for the company being spun off. It's how companies unload massive debt on a hot commodity. It did unlock some shareholder value though, for the parent company.