Dun & Bradstreet to Spin Off Moody's

DNB said it hired investment bank Goldman Sachs to analyze and develop a structure for the transaction.

Dun & Bradstreet has been under pressure from shareholders since a profit-warning in August to sell all or part of the company, or realize greater value from its units, the Reuters news agency reported. Such a transaction would be the company's fourth spin-off in four years.

Dun & Bradstreet shares climbed more than 9% this afternoon, on anticipation of the move, trading at $29.63.

Dun & Bradstreet's interim chief executive, Clifford Alexander Jr., said in a statement that the separation would "increase shareholder value by unlocking the company's two well-known franchises in the business information arena" and that the move should benefit shareholders and customers.

He said the move would allow the two companies to focus on their core business. Moody's specializes in credit rating and research on bonds and other capital markets instruments, and the Dun & Bradstreet Operating Company is the world's largest commercial credit, business marketing and purchasing information publisher.

The company said the transaction would be subject to final board approval.