what do ipo spinoffs mean for lnc shareholders, page-4

Thanks guys.

So a stock split is how the asset value would be transferred to LNC shareholders if any of the divisions were to be stand alone publicly traded companies?

Would LNC shareholders get shares in the new IPO?

If a split didnt happen would LNC go up, down or stay the same in the event of any sin off IPO of a division?

Thanks again for taking the time to respond at all.