#divestiture

Lots of rumblings from both consulting firms and at higher levels in Houston that a significant amount of Shell’s GoA assets in 2028 reach an opex/profitability threshold that will require the ELT to decide whether to divest or commit to cradle to grave with P&A and decommissioning that may far exceed 10 Billion dollars.

Wisdom of crowds and insiders.
What assets get divested?
Can Shell do marginal production management?
Will Shell ride the Idol Iron Clock?

Other interpretations and ideas welcome

Did y'all read the news?

I remember when this first started ppl had very specific number counts. I guess we are at 9,000 left to lay off for 2026. Can anyone give an insight as to how many of those 9,000 left will come out of divestures and how many will come out of actual reduction of employees and how that number is different from normal years low performers reduction?

Anyone know if BPX assets are in discussion for divestment? Which basins?
I understand layoffs took place last year, but new CEO wants discipline more CAPEX discipline. I think BPX just needs new leadership

When will the first one be announced and what will it be

Yes there will be another round end of Q1. First round was timed perfectly before the end of the year. That being said, to balance the sheets, more cuts had to occur at the beginning of the year for faster turnaround times for revenue increasing strategies in place.

It is happening and will continue to trend the same patterns as the Q4 layoffs.

Lots of questions as to if it will be geo based like the first rounds were or if it will be more results based strategies for the target. The answer is both are being considered.

Agent companies have already been scouted for these locations. Some divestures will be March and then the rest in April.

One thing I did hear is if your location has black tile sales floors, that is is ideal for agent companies to transition (don’t ask why, I didn’t hear but it’s strategic placement)

Wot ?!?
All it took to bounce the stock higher was divest the space companies and programs ? Those fat cash-immobile programs.

Why didn’t they do this sooner ? So much bloodshed with folks we lost since April 2024.

Expect more moves like this every few years as LHX responds to the market and challenges of nimble defense startups and China Dual Use adversaries.

Can we rebrand also as:
“The Trusted Transforming Disruptor”

https://www.nerdoutonbusiness.com/p/will-enterprise-software-stay-sticky-in-an-ai-world

OpenText is a useful case study for this question. The company runs on long-term contracts and deep switching costs, but AI is making it easier for companies to build internal tools.

The business is built on recurring revenue, with ~81% of FY2025 revenue coming from cloud subscriptions and customer support contracts.

Will their 94% renewal rate hold up?

I think the answer is no. Customers are constantly upgrading and given all of OpenText’s products are long in the tooth and the AI tools are unproven (without customer references) renewal rates will go down and the focus will be on organic growth which is an impossible task given the lack of innovation.

If the SMB unit is sold, the SMB Renewal Teams: Likely transferred to the buyer. These teams are high-volume and automated, making them an attractive "turnkey" operations piece for a Private Equity firm.
• Legacy Enterprise Renewals: Would remain at OpenText but continue to face the AI-driven workforce reductions.

If the "20% divestiture" goal is met by selling the SMB unit, these are the rumored frontrunners:
• Thoma Bravo: Rumored to be looking at Carbonite to fold into their ConnectWise or Sophos portfolios.
• Kaseya: Known for aggressive acquisitions in the MSP space, they are frequently mentioned as a potential home for Webroot's threat intelligence data.
• Gen Digital (Norton/LifeLock/Avast): Since OpenText has refocused Webroot on "Digital Life Protection" for families, it has become a "strategic fit" for Gen's consumer-focused empire.

In regards to a new CEO The board is looking for an "Operator" rather than a "Visionary Dealmaker." They want someone who can make the remaining "Core" business highly profitable after the non-core units (like SMB) are potentially sold off.

However this “Operator” will be in charge of getting all of OpenText remaining core acquired by a big tech company that can do something with the IP.

Any scuttle but from Egypt? Hearing that divestment is a possibility. It would simplify the company tremendously. Next hurdle offload the BP and Exoon North Sea Assets back to BP and Exxon…

What is everyone planning to do with their OT stocks (from ESPP or other means). Sell? Hold? It is at a much better price than what is was before. so just sell and invest in some better company, or could this go higher than what it is currently. When OT slowly divests the non-core portions, would it lead to reduction in stock value?

With the announcement yesterday alongside the rebranding a separate email said that the UK&I was to become a separate entity, wonder if eventually it will be sold off?

With Sean and Nina gone, Skiip has Aortic on the chopping blocks to support his other M&A plans. All the dots are connecting... Skiip (whose only expertise throughout his career is divestures and acquisitions) is brought to CV OU. Sean, and then Nina depart. No significant investments in Aortic for past several years. Market share and net profit from Aortic are declining. It's not if, it's when... or rather how soon!

Any rummors about possible divestment of Shell Chemicals ? Have heard that they want to somehow separate it.

Where are we with this? Is the BT / Private Equity move true ?

NetDocuments acquired eDocs from Opentext. Does anyone know of any other noncore solution being sold off?

https://ca.finance.yahoo.com/news/opentext-sells-non-core-business-120629553.html

Stankey unloads Time Warner at a massive loss and passes on this loss to employees. The new owners of Time Warner start a bidding was and make a massive profit. Well done Stankey. Can’t even blame it on Stephenson - divestment if Time Warner is on your watch.

What happens when an employee is laid off after a divestiture? Like when a severance is paid how many years of service is taken into account: is it the number of years at OT or at the new company? or do employees get a severance during divestiture? what happens to their PTO days etc.

So another failed venture by ATT gets sold to Discovery for $43billion. Today, Netflix buys WB for $82billion. ATT must be the worst negotiators ever.

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2026 Capex allocations are now of public domain.
Absolute zero reference of Argentina, which can be interpreted in 2 ways:

• next divestiture candidate
• idling at minimum for the next few years until the Permian peaks and start to decline.

Curious to know your opinions.

Informants have shared that Rao is in the exit lane for H1 2026 as Elliot prep their next divestment.

Upstream: Cold Lake, Kearl, Syncrude
Downstream: Strathcona, Sarnia, Nanticoke, Terminals, Pipelines
Chemical: Sarnia

Or does it make more sense DW finally recommends to the EM board to buy the minority interest of IOL (30%)?

I'm sure a lot of you have seen others posts around retail but I got some solid numbers. 180 stores were impacted today which they are still required to work today which is very sh---y. 179 stores will divest and one will close. It is 30 stores per market. After everything we will go down to two markets. All of the teams will be either consolidated or impacted. This also means that territories and districts will be redrawn and that will cause impacts to local retail ops.

Now they’ve sold Telefe, do you think they’ll cut the P+ teams in Argentina?

“Aggressively sunset or exit legacy businesses”
Timestamp: 0:19:06 to 0:20:17

“While we narrow our focus to invest in key growth areas, we will also aggressively sunset or exit legacy businesses where we don't see a clear path to profitable market leadership. We have a large opportunity to unleash meaningful margin improvement by doing so, and we will talk about this in more detail in January.”

“Divest and exit legacy businesses”
Timestamp: 0:28:31 to 0:29:35

“We’re going to do a hard look at portfolio rationalization and divest and exit legacy businesses where we don’t see a clear path to profitability.”

“Simpler, leaner, scrappier business” and “aggressively reducing our entire cost base”
Timestamp: 0:17:56 to 0:19:06

“We will be a simpler, leaner, and scrappier business. This work is overdue and will be multi-year and an ongoing way of life for us… We will fund these investments by aggressively reducing our entire cost base.”

“Portfolio optimization”
Timestamp: 0:43:32 to 0:44:19

“We have parts of our business that are costing us billions of dollars of margin, and I think we can think much more clearly about how do we invest in growth areas and divest or exit those that are not that for us. We'll spend more time on that in January…”

“Everything is on the table for us”
Tony Skiadas CFO – Timestamp: 0:46:32 to 0:47:12

“We're looking at everything, and everything is on the table for us. It also entails being very efficient with our capital spend.”

Source:
https://finance.yahoo.com/quote/VZ/earnings/VZ-Q3-2025-earnings_call-364743.html

So CIBC analyst asked around the pace:
"How should we kind of think about the cadence of divestitures over the next several quarters here as you look to divest 15%-20% of the overall revenue? Yeah, that's a great question. We've been grappling with that and talking to Steve about the right way to do it. Clearly, there are multiple business units here that are non-core. I think what you'll see is we'll establish a pace of doing one per quarter because it does take a lot of effort."...." I think you will see us generally be done within the next year. "

So sounds like 4-5 major sell offs of units...trying to read the tea leaves, who are the top 4-5 targets? Guessing anything non "Content" is fair game but could be individual products under Business Network ITOM, Cyber (Ent), Cyber (SMB/Consumer), ADM and Analytics. Who has the best guess here?

ConocoPhillips quarterly report was just published. From the highlights a couple things stand out to me... Very high exposure to US shale in L48 and $5 billion more in planned divestitures for 2026 are on track.

What's getting sold next that can generate $5 billion? Underperforming US assets? Someone else speculated Montney?

ConocoPhillips announces third-quarter 2025 results; increases quarterly ordinary dividend by 8% and announces preliminary 2026 guidance
November 6, 2025
https://www.conocophillips.com/news-media/story/conocophillips-announces-third-quarter-2025-results-increases-quarterly-ordinary-dividend-by-8-and-announces-preliminary-2026-guidance

• Delivered total company and Lower 48 production of 2,399 thousand barrels of oil equivalent per day (MBOED) and 1,528 MBOED, respectively.
• Exceeded $3 billion in dispositions in 2025 and on track to meet $5 billion disposition target by year-end 2026.

Are we really going to keep the woodlands office after divesting the anadarko?

Exit North Sea ASAP…who in the he-l will buy 3 Billion dollars worth of liability that is now producing less than 12,000 bopd…

Return the assets to BP for abandonment. Bankrupt the company in 2026 and keep the good pieces…. Just like Fieldwood did to Apache…

It would seem this is a poorly kept secret that Verizon Connect likely will be sold. Recent activity by leadership looks like they are best positioning the company's cash position and unexpected re-alignment internally. The stars are aligning.

If you have any questions about GP/TSYS feel free to ask here.
Every town hall we’ve had this year they’ve given strict direction to NOT speak to anyone from FIS regarding the Global Payments/TSYS Issuing divestiture.
We also went through a massive McKinsey overhaul all year and what a disaster it has been. RIFs around every corner and most of us have had the same anxiety about “when will it be my turn” all year. The guy who was leading that effort from McKinsey is now the CTO of GP real interesting how that worked out…
We are not hiring stateside anymore, it’s either India which also seems rare these days, or Phillipines.

Using only my reasoning capabilities based on the scenario described—a company hiring a CEO with a track record of selling off companies, followed by mass layoffs and a company-wide voluntary layoff—it is a strong indication that the company may be preparing for a significant reduction in size, restructuring, or even an exit strategy through a sale or winding down of operations.

Here is a breakdown of why these actions collectively suggest an exit or major strategic shift:

## 1. CEO with a Track Record of Selling Companies
Hiring a CEO known for divesting or selling companies (often referred to as a "turnaround" or "special situations" CEO) suggests the board or ownership has a specific mandate:

• Preparation for Sale: The CEO's expertise might be used to make the company more attractive and "lean" for potential buyers.
• Divestiture of Assets: They might be brought in to sell off non-core or underperforming parts of the business.
• Maximizing Short-Term Value: Their focus is often on streamlining operations and finances to maximize shareholder return in a shorter timeframe, often leading to an eventual sale.

## 2. Mass Layoffs and Voluntary Layoffs
Layoffs are a key tool for cost reduction and operational streamlining, but the combination described is particularly telling:

• Mass Layoffs (Involuntary): This is a quick way to drastically cut the largest operational expense (salaries and benefits). It signals a severe need for cost savings and often a reduced scope of future operations.
• Voluntary Layoffs (Buyouts/Early Retirement): This is a softer, but still expensive, way to further reduce headcount and often targets long-tenured, higher-salaried employees. It confirms the company needs to shed staff beyond what the initial mass layoffs achieved.

## Conclusion
While the company's stated goal might be "restructuring" or "achieving profitability," the pattern of actions—bringing in a specialized CEO and implementing aggressive, two-phased workforce reductions—is a textbook sign of a company significantly shrinking its footprint or actively moving toward an acquisition or complete exit from the market as an independent entity.

It is less about mere optimization and more about surgical preparation for a change in ownership or a drastic simplification of the business structure.

Predict and manifest Conoco’s reality for 2026 and beyond!
Will the company continue record production rates?
Will increases in incidents occur due to less people and more responsibilities?
What assets will be divested?
Will CEO buy better tailored suits?

What’s the delay in divestment of the NaKika and Mad Dog assets?
Any update on the layoffs anticipated for November?

Several orgs impacted. Small numbers but shedding in preparation of a big divesture in the making.

With the low oil price environment which doesn’t seems like it will improve soon, any news on the street if there will not be layoffs in Oxy? Any thoughts if the OxyChem sales will lead to headcount reductions in the upstream side of the business?

The new CEO, that's not change. It is the continuation of a plan. If l have seen this and lived it.

Meatball did the job that Blackrock commanded. He hollowed out the company, and outsourced much of it. The only thing not yet completed it the conversion of direct store to the Big 6 indirects. But that is coming.

The Checkmark has lost a lot of ground, and that was intentional. Next will be a massacre of senior managers and higher. Also.maybe a sell off of prepaid.

And then they will sell the cold, dead empty husk of the company to the highest bidders for scrap. We will be the AOL of telecommunications and we will be left to ponder "the good old days" as if we ever had them.

What an odd bunch of businesses….. lots of M&A activity in the feed industry; Cargill is completely absent; not surprising given performance in the past few years.

BioIndustrials continues “coasting”……..

Salt? Well; if we get a good winter is a good year
Any insights on who will be the first to be sold from that “portfolio “???

His plan is revealed...

https://seekingalpha.com/news/4501768-3m-evaluating-selling-billions-of-assets-in-industrials-business---report