The
carve-out phase generates cash that can be used to retire debt, increase cash for investment or cash-out insiders.
Similar to the limitations for the waste
carve-out, the typical
carve-out for misrepresentation should also be limited to "material' misrepresentation by a borrower or its principals in connection with the subject loan and, to the extent possible, should be limited to "intentional" acts.
The return of the parent firm's stock during the prepricing period incorporates the market reaction to the
carve-out announcement.
Keeping in mind this finding on the similarity in the patterns of substitution among the general and Medicaid populations, in the regression analyses reported below, we will assess the magnitude of market expansion effects relative to the substitution effect between old and new technologies, separately for
carve-out and non-carve-out states.
Horizontal
carve-outs typically lead to ordinary-income treatment.
An analysis of more than 200 major
carve-outs in Europe and the United States during the past 12 years shows that around the time of the announcement only 10 percent of them raised the parents' share price by more than 12 percent.
Unlike a spin-off or equity
carve-out, a tracking stock doesn't create a new legal entity.
PCPs affiliated with Jefferson Medical College (Family Medicine and General Internal Medicine practitioners) were surveyed on the nature and quality of consultation and referral practices they had with MH individual providers and
carve-out organizations.
An equity
carve-out is the sale by a public company of a portion of one of its subsidiaries' common stock through an initial public offering.
First, consistent with our definition of
carve-outs, parents must retain 80% or more control in the subsidiary after the
carve-out and must remain publicly traded entities.