Re:IBM is splitting itself into two public companies
by alexdean on Thursday October 08, 2020 @06:29PM
(#24724621)
It's not that simple, for example Waymo has external investors alongside Alphabet, https://blog.waymo.com/2020/03/waymo-raises-first-external-i...
Re:IBM is splitting itself into two public companies
by dragonwriter on Friday October 09, 2020 @01:03AM
(#24726995)
Sure, it's a bit more complicated, but the point here is that Waymo remains an Alphabet subsidiary, external investors are investing under that understanding and with full knowledge of Alphabet’s control of Waymo (which is why the blog entry you link to links to the Alphabet 10-Q reporting the external investments and the resulting “noncontrolling interests” in the subsidiary.
A “spin-off” within a common corporate umbrella is a different thing done for different reasons than a corporate divorce kind of spin-off like IBM is doing.
Those aren't actually spinoffs in the sense of what IBM is doing; "Google" was effectively just renamed "Alphabet", with its core business in a new subunit called "Google". They are all still within the same corporate ownership structure. Its an internal organizational change, not a separation into separately-owned organizations.