Spin-off Transaction
Allows management to focus on interactive and advertising related business segments while expanding new client opportunities in staffing
TMP will infuse $20 to $40 million cash as of effective date
Approximately $100 million write-off charge
Timeline:
- Form 10 filed with SEC on December 19th
- Obtain “will” opinion from tax advisors
- File for private letter ruling with IRS
- Ex dividend in late Q1 ‘03