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Halliburton Plans KBR Split-Off

The company will swap the shares for its own.
Author:

Halliburton

(HAL) - Get Halliburton Company (HAL) Report

said it will dispose of its remaining interest in

KBR

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(KBR) - Get KBR, Inc. Report

through a split-off exchange offer to Halliburton's stockholders.

Halliburton will offer the 135.6 million KBR common shares in exchange for shares of Halliburton common stock at an exchange ratio to be determined by a specified formula.

If the exchange offer is completed but not fully subscribed, Halliburton will distribute to its stockholders by means of a special dividend, on a pro rata basis, any remaining shares of KBR common stock.