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SPINOFF: Myriad Genetics, Inc. [MYGN] and Myriad Pharmaceuticals, Inc. [MYRX]
Issue:
On 6/30/2009 Myriad Genetics, Inc. [MYGN] distributed 0.25 shares of Myriad Pharmaceuticals, Inc. [MYRX] for each share of MYGN owned in a regular spinoff.
Cause:
This is a normal spinoff. The following information for this transaction was taken from the company's website at http://www.myriad.com/downloads/Tax_Information.pdf
Resolution:
Enter the spinoff transaction in accordance with the instructions at
http://www.iclub.com/support/kb/default.asp?page=normal_spinoff.
Here's the information you need for the spinoff:
1. Spinoff date - 6/30/2009
2. Parent company - Myriad Genetics, Inc. [MYGN]
3. Remaining basis percentage of Parent Company, [MYGN] - 96.27.
4. Number of shares held in parent company - provided by software.
5. There is one daughter company - Myriad Pharmaceuticals, Inc. [MYRX]
6. Number of shares of MYRX received - This will be the number of shares owned in MYGN multiplied by 0.25 (make sure to include fractional shares).
7. Price per share of daughter company - $4.03.
8. Cash received in lieu of fractional shares - take from broker statement if applicable.
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