
Thyssenkrupp Completes Spin Off of TKMS into Bullish Stock Market
German conglomerate Thyssenkrupp completed the previously announced spin off of its marine shipbuilder TKMS today, October 20, as the market for marine defense manufacturers is booming. The parent company distributed 49 percent of the shares to its shareholders (Thyssenkrupp continues to own 51 percent) and at the end of the day TKMS’s stock value had soared nearly 50 percent giving the one-time subsidiary a higher market capitalization (over $7 billion) than its parent company. The conglomerate has been...
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