I have tried to find some info on this but the more i read the  the murkier it gets. If some one who has been involved in a spin off and knows how this works could  kindly explain it or point me to a site that can succinctly explain it I would greatly appreciate it. Here are My specific ?s. Ok, so say we are bought out for $4 per share (just tossing out a number, doesn't mean anything) and there is a spinco. How does that work?  Do we get the $4 per share? Do we get the same amount of shares in CUU 2 as we had in the original? How are they then valued?