Typically in spin off situations like this the parent company loses value (SP) as some of it's assets are turned over to the new company. In an ideal world the net value of the two companies would be equal to the pre-spin off parent. Look for a lowering of RSG's SP in the short term until the new company becomes active, then both will react independently in the market.

Usually when spin-offs happen the date of record is announced immediately to avoid rapid sell-offs or accumulations at lower prices. I'm wondering why we weren't given the date of record today - maybe their giving certain people time to bail out cheap or get in cheap. Something isn't quite right here, we're not being told everything.