USX advised shareholders to vote against Icahn's proposal to spin off at least 80 percent of the company's steel business.

He had asked shareholders to approve a nonbinding resolution asking the company to spin off at least 80 percent of the steel unit.

Last month Equitable spun off 20 percent of Donaldson, Lufkin to the public, raising $285.7 million.

Diageo recently announced that it planned to spin off 20 percent of Burger King, signaling its intention to eventually sell the entire fast food chain.

Under one possible plan, G.M. would buy all the class H stock outstanding and spin off 20 percent of the new company in a public offering.

A year ago, Mr. Icahn led an unsuccessful proxy battle, urging the board to spin off at least 80 percent of the steel business.

Maryland National Bank's parent spun off 85 percent of its credit card subsidiary in an initial public offering.

Lucent spun off 42 percent of Agere in March of last year.

The company also said it might spin off 20 percent of the new venture.

The bookseller spun off 40 percent of GameStop in an initial offering in February.