What was the stated economic motivation for the change, Financial Management

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What was the stated economic motivation for the change

For the companies General Electric and Time Warner:

What was the stated economic motivation for the change (Spin-off/Equity Carve-out)? Who were the economic beneficiaries? What are the critical assumptions? Does management explicitly benefit from this change? How did shareholders respond? What, if any, are the important distinctions between the two events?

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