Having taken part in the Walter WLT spin-off of Mueller MWA-B and getting a significant discount on the MWA-B shares that were spun-off, I am interested in spin-offs generally. In the case of Mueller, I bought WLT shares when they were low after an adverse earnings report before the spin-off. It was this that really gave me the good return on the MWA-B shares.What about Altria? It has just announced the spin-off on March 16th of its 86% stake in KFT to shareholders of record on March 1st. Altria (MO) seems to be in the upper quarter of its 52 week price range - around 87 dollars plus some change. It is going up in price. Is Altria over-priced? Is buying Altria an economic way of acquiring shares in Kraft?If anyone knows how to work through the math on this can you explain to it to me?ThanksSimon
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