Agilent Technologies is the manufacturer of scientific-testing equipment spun off from Hewlett Packard Co. more than 10 years ago. Agilent said that it had planned to split the company into two public firms.
One company would focus on diagnostics, applied markets and life sciences. It would also retain the Agilent name. The other company would be comprised of Agilent's range of electronic measurement products. This was based in a statement issued by the Santa Clara, California based company today. The separation had been expected to occur through a tax-free spinoff to the shareholders of Agilent.
Agilent had spun out of HP in 1999. From then on, the company had four major spinoffs since 2005, said a Reuters report. Ross Muken, an International Strategy & Investment Group analyst said, "There will be a new shareholder base that can appreciate each of the assets for what they are, which are extremely high quality businesses that are well run. We think this is still, despite the move, one of the most attractive stocks."
Agilent jumped 3.4% to USD50.98 at the trading close in New York today. The company shares gained 25% this year.
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