On September 5, 2013, The Timken Company’s (TKR) board of directors approved a plan to separate the steel business from Timken through a spinoff. On June 30, 2014, Timken completed the spinoff of TimkenSteel Corporation (TMST). Timken shareholders of record as of June 23, 2014, received one TimkenSteel common share for every two Timken common shares they own. For example, if you owned 50 shares of TKR as of June 23, 2014, you will continue to own 50 shares of TKR and, in addition, you will receive 25 shares of TMST. (You will receive cash in lieu of any fractional shares of TMST stock). Shareholders were not required to take any action to participate in the spinoff.
Approximately 45.4 million shares of TimkenSteel common stock were distributed to shareholders on June 30, 2014.
TimkenSteel Separation Tax Cost Basis Information:
Timken Tax Form 8937 with Attachment
TimkenSteel Separation Tax Cost Basis Information