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Phoenix spins off Virtus, distributes shares
By Lisa Kerner
Charlotte, N.C., Jan. 2 - Phoenix Cos., Inc. distributed one share of Virtus Investment Partners, Inc. for every 20 shares of Phoenix stock held to complete the spinoff of Virtus into an independent, publicly traded asset management firm.
The distribution was made on Wednesday, Phoenix said.
Virtus' common stock will be listed on the Nasdaq Global Market under the symbol "VRTS," it was previously reported.
Phoenix is a Hartford, Conn., insurance company.
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