This is a venerable organic reaction, which curiously I have not previously covered here. First described in 1859, its nature was only properly elucidated in 1873. It is a member of a class of reaction I have previously named “solvolytically assisted pericyclic”, or “perisolvolytic”. Here I explore some of the subtle stereoelectronic effects observed for this apparently simple reaction. It applies to a class of molecule known as 1,2-diols.