Dover Spin-off (APY) to Begin Trading Tomorrow

Background Dover (DOV) announced in September 2017 that it was reviewing strategic options (sell, merge, or spin-off) for its energy business. A month later, activist investor, Dan Loeb, disclosed his DOV position and urged management to sell its energy business. Loeb noted, โ€œRemoving the cyclicality from Dover will greatly reduce earnings volatility, allowing investors to [...]