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SPINOFF: Altria Group, Inc. [MO] of Kraft Foods, Inc. [KFT]
Issue:
On 3/30/2007 Altria Group, Inc. [MO] distributed 0.692024 shares of Kraft Foods, Inc. [KFT] for each share of MO 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 - 3/30/2007
2. Parent company - Altria Group, Inc. [MO]
3. Remaining basis percentage of Parent Company - 76.16
4. Number of shares held in parent company - provided by software.
5. There is one daughter company - Kraft Foods, Inc. [KFT]
6. Number of shares of KFT received - This will be the number of shares owned in MO multiplied by 0.692024 (make sure to include fractional shares).
7. Price per share of daughter company - $30.85.
8. Cash received in lieu of fractional shares - take from broker statement.
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