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SPINOFF: Duke Energy [DUK] and Spectra Energy Corp [SE]
Issue:
On 1/2/2007, Duke Energy Corporation [DUK] distributed 0.5 shares of Spectra Energy Corp [SE] for each share of DUK owned in a regular spinoff.
Cause:
This is a normal spinoff.
Resolution:
Enter the spinoff transaction in accordance with the How to do a normal spinoff
instructions
Here's the information you need for the spinoff:
1. Spinoff date - 1/2/2007
2. Parent company - Duke Energy Corporation [DUK]
3. Remaining basis percentage of Parent Company 58.11.
4. Number of shares held in parent company - provided by software.
5. There is one daughter company - Sectra Energy Corp [SE]
6. Number of shares of SE received - This will be the number of shares owned in DUK multiplied by 0.5 (make sure to include fractional shares).
7. Price per share of daughter company - $27.75.
8. Cash received in lieu of fractional shares - take from broker statement.
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