June 15 2023
BorgWarner Inc (NYSE: BWA) announced that it expects to complete previously announced spin-off of PHINIA (its Fuel Systems and Aftermarket segment) in July 2023.
The first day of trading is expected to be July 5th, 2023.
PHINIA shares will be traded on New York Stock Exchange under the symbol PHIN.
More, Source: Company’s Announcement
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Etalon Capital provides independent research with a focus on event-driven strategy and value equities to institutional investors. Events include mergers and acquisitions, spin-offs, activist investors, IPOs, SPACs, share buybacks, significant corporate transactions, and special situations. These are diversified by risk/return profiles, with an emphasis on value investing principles. We generate an edge with a unique research process, combining value, focus on corporate events and story investing principles