Alphabet finalizes reorganization with new company named XXVI

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Google Inc.’s parent company Alphabet Inc.












GOOGL, -0.34%










announced Friday that it is forming a new company called XXVI Holdings Inc. that will finalize its transformation from a search giant into a corporate conglomerate with units across a range of sectors and industries. The new structure allows the company’s business units, now under the Google umbrella and called “Other Bets,” to become subsidiaries of Alphabet. Google is also changing from a corporation into a limited liability company, which is related in part to its status as an Alphabet subsidiary. A company spokeswoman told Bloomberg that the legal process won’t affect operations, executives or shareholder control. XXVI Holdings, or 26 as Roman numerals, is the number of letters in the English alphabet. The company’s stock edged down during the regular session to $952, but is up 20% this year, with the S&P 500 index












SPX, +0.20%










up 9.6%.

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