Form 10 Registration Statement Filed In Connection With Emerson’s Planned Spinoff Of Network Power
Vertiv selected as name of new public company; Scott Barbour named president and chief executive officer of Vertiv; separation remains on track to be substantially complete by September 30, 2016.
Emerson has announced the filing of an initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC) in connection with the company’s previously announced plan to spin off its Network Power business, which will be named Vertiv. The filing, which outlines Emerson’s intent to spin off 100% of the outstanding common stock of Vertiv through a tax-free distribution to shareholders, is an important step in a process expected to be substantially complete by September 30, 2016.
“Today marks another step forward in a process we began in early 2015 focused on strengthening Emerson and preparing the company to capitalize on future growth opportunities,” said David N. Farr, chairman and chief executive officer. “The spinoff of Vertiv will sharpen Emerson’s focus on high-growth markets and establish Vertiv as an industry-leading public company under Scott Barbour’s strong leadership.”