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Spinoffs Could Set Stage for Next Merger Wave

Already 166 companies — from computer maker Hewlett-Packard Co. (HPQ) and EBay Inc. (EBAY) to mining giant BHP Billiton Ltd. (BHP) — announced plans this year to spin off business units to shareholders. Companies also struck $2.3 trillion of mergers and acquisitions worldwide, a seven-year high. Take EBay and PayPal: Both are considered candidates after their split, for buyers such as Alibaba …

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