SPX Corporation Holding Company Reorganization

SPX Corporation announced plans to implement a holding company reorganization, merging into a subsidiary of newly-formed SPX Technologies, Inc. The reorganization is intended to create a more efficient structure to accommodate growth through acquisitions and manage legacy liabilities. The transaction is expected to be tax-free for stockholders and effective on or about August 15, 2022.

“On August 4, 2022, SPX Corporation issued a press release announcing plans to implement a holding company reorganization (the "Holding Company Reorganization"), currently planned to become effective on or about August 15, 2022, by executing a tax-free merger of the Company with and into SPX Merger, LLC, a newly-formed Delaware limited liability company that is a subsidiary of a newly-formed Delaware corporation, SPX Technologies, Inc. ("SPX Technologies").”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.