ASHLAND GLOBAL HOLDINGS INC. (NYSE:ASH) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01. Completion of Acquisition or Disposition of
Assets
On May 12, 2017, Ashland Global Holdings Inc. (Ashland)
completed its previously announced distribution of 170,000,000
shares of common stock of Valvoline Inc. (Valvoline) as a pro
rata dividend on shares of Ashland common stock outstanding at
the close of business on the record date of May 5, 2017. Based
on the shares of Ashland common stock outstanding as of May 5,
2017, the record date for the distribution, each share of
Ashland common stock received 2.745338 shares of Valvoline
common stock in the distribution.
completed its previously announced distribution of 170,000,000
shares of common stock of Valvoline Inc. (Valvoline) as a pro
rata dividend on shares of Ashland common stock outstanding at
the close of business on the record date of May 5, 2017. Based
on the shares of Ashland common stock outstanding as of May 5,
2017, the record date for the distribution, each share of
Ashland common stock received 2.745338 shares of Valvoline
common stock in the distribution.
On September 28, 2016, Valvoline completed the initial public
offering of 34,500,000 shares of its common stock representing
approximately 17% of the economic interest in, and the voting
power of, its capital stock for a purchase price of $22.00 per
share (the IPO). Prior to the IPO, Valvoline was a wholly-owned
subsidiary of Ashland. After the IPO, Ashland held 170,000,000
shares of Valvoline common stock, which represented
approximately 83% of the economic interest in, and the voting
power of, Valvolines capital stock.
offering of 34,500,000 shares of its common stock representing
approximately 17% of the economic interest in, and the voting
power of, its capital stock for a purchase price of $22.00 per
share (the IPO). Prior to the IPO, Valvoline was a wholly-owned
subsidiary of Ashland. After the IPO, Ashland held 170,000,000
shares of Valvoline common stock, which represented
approximately 83% of the economic interest in, and the voting
power of, Valvolines capital stock.
A copy of the news release is attached as Exhibit 99.1
Item 9.01. Financial Statements and Exhibits
(b) Pro forma financial information.
The following Unaudited Condensed Pro Forma Consolidated
Financial Statements of Ashland Global Holdings Inc. and
Consolidated Subsidiaries are included as Exhibit 99.2 to this
Current Report on Form 8-K and incorporated herein by
reference:
Financial Statements of Ashland Global Holdings Inc. and
Consolidated Subsidiaries are included as Exhibit 99.2 to this
Current Report on Form 8-K and incorporated herein by
reference:
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Unaudited Condensed Pro Forma Consolidated Balance Sheet
as of March 31, 2017; and Unaudited Condensed Pro Forma Statements of Consolidated Income for the six months ended March 31, 2017 and for each of the three fiscal years ended September 30, 2016, 2015 and 2014 |
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(d)
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Exhibits
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Exhibit Number
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Description of Exhibit
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99.1
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News Release dated May 12, 2017.
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99.2
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Unaudited Condensed Pro Forma Consolidated Balance Sheet
of Ashland Global Holdings Inc. and Consolidated Subsidiaries as of March 31, 2017; and Unaudited Condensed Pro Forma Statements of Consolidated Income for the six months ended March 31, 2017 and for each of the three fiscal years ended September 30, 2016, 2015 and 2014. |
ASHLAND GLOBAL HOLDINGS INC. (NYSE:ASH) Recent Trading Information
ASHLAND GLOBAL HOLDINGS INC. (NYSE:ASH) closed its last trading session down -0.42 at 121.75 with 850,896 shares trading hands.