Spin-off Transaction
Allows management to focus on interactive and advertising related business segments while expanding new client opportunities in staffing
TMP will infuse approximately $40 million cash as of effective date
Approximately $115 million charge
Timeline:
- Filed final Form 10 on March 6th
- Obtained private letter ruling from IRS
- Obtained the “solvency” opinion
- Ex-Dividend expected March 31st, 2003