This first part is just my opinion... to figure your cost basis you would take your LUK cost and take it times .0286532. So if you purchased your LUK for $24.43 your new cost basis for LUK is $23.73 and your cost basis for CWGL would be $6.999. If CWGL first trade date was Feb.21 LUK opened that day at $24.74 making the CWGL initial value $7.81.
Per the Leucadia press release... "The Crimson spin-off has been structured to qualify as a tax-free distribution to Leucadia shareholders for U.S. federal income tax purposes. Leucadia shareholders are urged to consult with their tax advisors with respect to the U.S. federal, state, local and foreign tax consequences of the Crimson spin-off. "