Rockwell Shareholders to Get Stock in Spinoff Firm
Rockwell International Corp., the Costa Mesa-based avionics and automation giant, said Thursday that its shareholders will receive one share of stock in the new semiconductor systems spinoff company, for every two shares of Rockwell stock.
The distribution is expected to occur Dec. 31 for shareholders of record Dec. 11.
The new company, which is scheduled to unveil its corporate name next week, has applied to have its stock listed on the Nasdaq National Market.
Rockwell also said that its automation unit in Milwaukee has completed its acquisition of Anorad Corp., a Hauppauge, N.Y.-based maker of linear motor technology systems. Terms were not disclosed.
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