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Article: Grace's Need to Maximize Value May Force Health Care Unit's Sale
- Article from:
- THE JOURNAL RECORD
- Article date:
- May 10, 1995
- Author:
CopyrightCopyright 1995 The Journal Record. Provided by ProQuest LLC. (Hide copyright information)
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Kenneth N. Gilpin
N.Y. Times News Service
An unsolicited $3.5 billion offer to buy National Medical Care
Inc. has left W.R. Grace Co. little choice but to get rid of
the profitable subsidiary, the company's new chairman and chief
executive told major institutional shareholders and Wall Street
analysts in separate meetings Monday.
Albert J. Costello, who was elected to the top posts at the $5
billion specialty chemicals and health care subsidiary only a
week ago, did not specify how the company intended to dispose of
National Medical Care (NMC).
But he said he expected to be able to make a "very strong
recommendation" to the Grace board within the next month to six
weeks.
On ...