Hewlett Packard (HP) announced the spin-off of its Agilent Technologies unit to focus on its main business of computers and printers. Hewlett Packard provided Agilent with $983 million in start-up funding. HP retained a controlling interest until mid-2000, when it spun-off the rest of its shares in Agilent to HP shareholders as a tax-free transaction. Discuss the reasons why HP may have chosen a staged transaction rather than an outright divestiture of the business.