split-up
- It's a process where a corporation transfers all of its assets completely to multiple subsidiaries as part of a liquidation process. As part of the process, shareholders give up all of their old shares and receive new shares in the new corporations
- During the company's split-up, all stockholders had to surrender their old shares and were issued new ones in the new corporations.
- The split-up of the business resulted in the transfer of all its assets to its two subsidiaries.
- When it became clear the company was in financial trouble, preparations began for a split-up.
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