FMC.FMC See fixed mobile convergence. , Chicago, IL, announced a strategic restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). that ultimately would split the corporation into two independent, publicly traded companies publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. , a machinery business and a chemicals business. As the first step, FMC said it is planning an initial public offering of up to 20% of the machinery business by the second quarter of 2001. FMC intends to use the proceeds from the offering to reduce FMC debt. Subject to market conditions, final board approval and a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. tax ruling, FMC intends to make a tax-free distribution of the remaining shares of the machinery company by the end of 2001. |
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