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Another interesting spinnoff at WLT brewing. They are spinning off their financial business with will merge with Hanover and become a REIT. At first glance it looks like a classic case of a strongly desired parent, and a very unwanted spin-off. On the recent conference call, which was held to explain the spin-off, all but one analyst question was on the coal business. The deal won't close until early 2009. And it looks like the type where you don't need to buy for a while after that as I expect nearly everyone to dump the financial shares.
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