Less than one year
Fosters: demerged its wine business Treasury Wine Estates in May 2011 and then was taken over by SAB Miller in December 2011.
Sydney Roads: Was spun out of Macquarie Infrastructure Group in July 2006 and then Transurban launched its friendly takeover bid in December 2006 and it was completed in April 2007 so the business was listed for less than a year.
One to three years
ALH: was spun out of Foster's in November 2003, Woolworths and Bruce Mathieson snapped up a strategic 16% stake in July 2004 and then, after a takeover battle with Coles, ALH was swallowed up by Woolworths and Mathieson and moved to compulsory acquisition in March 2005. Was listed for less than 18 months.
Fairfax: spun off its Domain business in November 2017 and received a takeover bid from Nine in July 2018 which was completed in December 2018, so it was all done in a year.
Recall: demerged out of Brambles in December 2013 and then received an initial takeover offer from Iron Mountain in December 2014 but the deal wasn't completed until mid 2016.
WMC: demerged Alumina in December 2002 and was then snapped up by BHP for $7 billion in June 2005.
Azon: boral floated off its Victorian manufacturing operations for $300 million in 1993 and they were bought by Illinois Tool Works in 1996.
Three to five years
Consolidated Media Holdings: spun out of Crown in November 2007 and then taken over by News Corp in October 2012.
Rinker: was demerged out of CSR in April 2003 and Mexican company Cemex completed its takeover in July 2007.
Five to 10 years
Dulux: was demerged by Orica in July 2010 and then 9 years later was acquired by Nippon Paint for $4.2 billion.
Trade Me: floated off by Fairfax in December 2011 at $NZ2.70 a share and then acquired by Apax Partners for $NZ6.45 a share in early 2019.
Asciano: spun out of Toll Holdings in June 2007 and then, after almost going broke, was bought by a consortium of bidders in August 2016. Toll itself was taken over by Japan Post in mid-2015.
More than 10 years
DEMERGERS WHICH ARE YET TO CAUSE A TAKEOVER
More than 20 years
Pacific Dunlop (now Ansell) floated off Cochlear in 1994 and both entities remain listed.
15 to 20 years
Boral demerged Origin in February 2000 and both entities remain listed today.
Onesteel: demerged from BHP in October 2000 and went broke as the renamed Arrium in April 2016, almost 16 years later.
Bluescope Steel: demerged from BHP in July 2002 and remains listed today.
10 to 15 years
AMP demerged its UK business Henderson in 2005 and both businesses are still listed.
Westpac demerged its funds management business BT, now known as Pendal, in late 2007 and both business are still listed.
5 to 10 years
Tabcorp demerged its casino division Star Entertainment in 2011 and eight years later both entities are still listed.
Amcor demerged Orora in December 2013 and both businesses remain listed although Amcor is in the process of doing a big merger with US firm Bemis, but will remain listed in Australia.
BHP demerged South 32 in May 2015 and both business remain listed.
Less than 5 years
NAB demerged its UK banking business CYGB in 2016 and both businesses are still listed.
Wesfarmers demerged Coles in November 2018 and both entities remain listed.
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