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Article: Atlanta Conglomerate To Become Two Companies To Raise Stock Value.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 29, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Peralte C. Paul, The Atlanta Journal and Constitution Knight Ridder/Tribune Business News
Jun. 29--National Service Industries Inc., in its most radical attempt to date at boosting its value, is splitting itself in two.
"This is not easy. We care a lot about our institution," said James S. Balloun, chairman, president and chief executive officer, following a board meeting Thursday. "But we have to go back to our fundamentals -- increasing value for our shareholders."
The 11-member board voted unanimously in favor of splitting the Atlanta conglomerate's four business units into two separate, publicly traded companies.
News of the ...