Rockwell Sets Stock Ratio for Collins Spinoff

Rockwell International Corp. said it set the distribution ratio for its spinoff of the Collins avionics business, giving stockholders one share of the new company for each Rockwell share held.

The distribution of Collins shares should occur June 29, the company said.

Shareholders of record on June 15 will receive one share of the new Rockwell Collins company, whose stock will be listed on the New York Stock Exchange under the ticker symbol COL. The company will be called Rockwell Automation.

Rockwell International shares fell 26 cents to close at $45.88 on the NYSE.