Jim Cramer: What Victoria's Secret Spinoff Says About Investors

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L Brands  (LB) - Get L Brands, Inc. (LB) Report will spin off Victoria's Secret and Bath & Body Works as two separate publicly-traded companies. 

Victoria's Secret will be run by CEO Martin Waters, while L Brands CEO Andrew Meslow will lead Bath & Body Works, the company said, with plans to complete the tax-free separation by August of this year. The New York Times 'DealBook' reported that L Brands had received offers higher than $3 billion for Victoria's Secret, but expects a spin-off value approaching $7 billion from its planned transaction.

Jim Cramer explains what he does and doesn't like about this news in the video above. 

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