This document is something that not many companies will ever need to draft themselves, as it is a pretty unique circumstance. But nevertheless it’s an interesting thing to see. The bulk of the document can be found here. Most SEC documents are very technical this one included, and rarely include any sense of emotion, but this document demonstrates Halliburton’s urgency to separate as evidenced by this quote:

“We intend to completely separate KBR, Inc. from Halliburton as expeditiously as possible through a tax-free dividend distribution of KBR, Inc. stock to Halliburton stockholders…. We do not intend to delay the complete separation of KBR to wait on favorable conditions for an IPO of KBR, Inc.”

This separation came after a period where KBR appeared as a drain on Halliburton, and both companies realized they could benefit by being lighter and more specialized.

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