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Article: Viad Corp Announces Completion of Spin-Off of MoneyGram International, Inc. and Reverse Stock Split.
- Article from:
- Business Wire
- Article date:
- July 1, 2004
CopyrightCOPYRIGHT 2004 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PHOENIX -- Today Viad Corp (NYSE:VVI) completed the previously announced spin-off of MoneyGram International, Inc. (NYSE:MGI), a leading global payment services company. Shares of MoneyGram common stock were distributed, effective 11:59 p.m., New York City time, on June 30, 2004, to Viad stockholders. One share of MoneyGram common stock was distributed for each share of Viad common stock held on the close of business on June 24, 2004. The distribution is intended to be tax-free to Viad and its stockholders for U.S. federal income tax purposes, and Viad has received a favorable ruling from the U.S. Internal Revenue Service to that effect. Effective immediately following and ...