Finance
Factbox-Major U-turns on corporate splits in recent years
Published by Global Banking & Finance Review®
Posted on February 11, 2026
2 min readLast updated: February 11, 2026
Quick Summary
Explore major corporate U-turns on planned splits, including Kraft Heinz, Pirelli, and HSBC, highlighting strategic business decisions.
Corporate Restructuring: Notable Companies Abandon Split Plans
Major Companies That Have Halted Split Plans
Feb 11 (Reuters) - Kraft Heinz on Wednesday halted plans to split into two, joining a small list of companies to backtrack on major corporate restructuring.
Kraft Heinz
In September, it announced plans to split into two companies - one focused on groceries and the other on sauces and spreads. Here are some major corporations that have called off plans to split:
DuPont
DUPONT
Virgin Media O2
In January 2025, industrial materials maker DuPont said it no longer intends to separate its water business into a publicly traded company, but would go ahead with the spinoff of its electronics business.
Bayer
VIRGIN MEDIA O2
Teck Resources
In July 2025, Telefonica's CEO Marc Murtra told Reuters that the plan to spin off joint venture Virgin Media O2's fixed network in Britain had been scrapped.
EY
BAYER
GAP
In March 2024, Bayer said it would hold off on plans to break apart the group for up to three years so that the new CEO could focus on problems including debt and litigation.
TECK RESOURCES
In April 2023, Teck Resources withdrew its plan to separate its copper and coal businesses, as the company sought to fend off a $22.5 billion takeover attempt from Glencore.
EY
In April 2023, accounting firm EY called off a plan to separate its audit and consulting units after facing resistance from some of the company's partners.
GAP
In January 2020, Gap scrapped a plan to spin off its Old Navy unit, saying it would work to reverse dropping sales instead.
(Reporting by Angela Christy in Bengaluru; Editing by Pooja Desai)
Key Takeaways
- •Kraft Heinz canceled its planned corporate split.
- •Pirelli opposed a spinoff of its Cyber Tyre activities.
- •DuPont decided against separating its water business.
- •Virgin Media O2's fixed network spin-off was scrapped.
- •HSBC rejected a spinoff of its Asian business.
Frequently Asked Questions about Factbox-Major U-turns on corporate splits in recent years
1What is a corporate split?
A corporate split occurs when a company divides its operations into separate entities, often to focus on different business areas or improve efficiency.
2What is a spinoff?
A spinoff is a type of corporate restructuring where a company creates a new independent company by selling or distributing new shares.
3What is corporate governance?
Corporate governance refers to the systems, principles, and processes by which companies are directed and controlled, ensuring accountability and transparency.
4What is a business restructuring?
Business restructuring involves reorganizing a company's structure or operations to improve efficiency, adapt to market changes, or address financial challenges.
5What is a financial crisis?
A financial crisis is a situation where the value of financial institutions or assets drops significantly, often leading to economic instability.
