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His spokesman said: "The trust was dissolved and the shares distributed to the beneficiaries".
(Acquirers that offer such a floor typically also insist on a ceiling on the total value of shares distributed to sellers). Establishing a floor not only reduces preclosing market risk for sellers but also diminishes the probability that the seller's board will back out of the deal or that its shareholders will not approve the transaction.
Warner said Mobil hasn't yet decided how best to divest Montgomery Ward, although analysts have speculated that the unit would be spun off with shares distributed to Mobil shareholders.
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In the recent privatisation of the Royal Mail, one-tenth of the shares were distributed to the firm's workers.The political appeal of employee share ownership is not in doubt.
As part of that deal, a fractional warrant to buy more shares was distributed to all shareholders except the government in late January.
Under the proposal, Catalytica Energy would complete a two-for-one stock split at the time shares were distributed to stockholders in the parent company.
The hybrid will use many components from Visteon Automotive Systems, a giant auto parts subsidiary that Ford's board is expected to spin off at its board meeting next Thursday, probably by ordering that Visteon shares be distributed to Ford shareholders.
Later that year, the remaining 80% of shares were distributed to Sears' shareholders, giving Dean Witter complete independence from Sears.
Two-thirds of the basic shares were distributed to forest farmers, while the remaining third were turned over to the village economic cooperative to become part of the village's accumulation fund.
The State and Local Assistance Act of 1972, the official name for Nixon's revenue sharing, had distributed to the States over 83 billion dollars before Ronald Reagan eliminated it in 1986.
"Part of the great thing about printmaking is that you can produce an art piece that in turn can be reproduced, and shared, and distributed to many, many people," Rodriguez said in an interview with The Huffington Post.
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