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splitup

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split-up

  [split-uhp]
Use splitup in a Sentence
–noun
1. a splitting or separating into two or more parts.
2. a separation or dissociation of two groups or people.
3. Commerce. a process of reorganizing a corporate structure whereby all the capital stock and assets are exchanged for those of two or more newly established companies, resulting in the liquidation of the parent corporation. Compare spin-off (def. 1), split-off (def. 3).
Origin:
1830–40; n. use of v. phrase split up
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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Legal Dictionary

Main Entry: split–up
Pronunciation: 'split-"&p
Function: noun
: a transfer by a corporation of all its assets in complete liquidation to two or more subsidiaries that involves the surrender of all stock by the shareholders in exchange for new stock in the transferee corporations : a D reorganization involving a distribution of the stock of two or more subsidiaries to the shareholders who in return surrender all their stock in the distributing corporation —compare SPIN-OFF, SPLIT-OFF
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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