Moving into 2017, these segments may also see transformational moves, especially after current portfolio adjustments and spin-offs underway are completed. Additionally, competitive pressure to build scale within all segments may drive further activity.
Other trends driving the increasing portfolio change are tax-free spin-offs and divestitures, as companies position themselves for innovation and growth. The spin-off momentum is likely to continue in 2018, given the often low tax basis in legacy businesses, resulting in tax-free spins delivering greater shareholder value than straight dispositions.
On the following pages you will be able to review this years main activity...