ACCUSTAFF AND CAREER HORIZONS ANNOUNCE COMPLETION OF MERGER.JACKSONVILLE, Fla--(BUSINESS WIRE)--Nov. 14, 1996-- COMBINED COMPANY TO TRADE ON NYSE NYSE See: New York Stock Exchange UNDER "ASI ASI, n See Anxiety Sensitivity Index. " ON NOVEMBER 15, 1996 AccuStaff Incorporated (Nasdaq/NM:ASTF ASTF Arab Science and Technology Foundation (United Arab Emirates) ASTF Aeropropulsion Systems Test Facility ASTF Aerospace Structures Test Facility ASTF Australian Standard Transfer Form ASTF A Suit That Fits ) and Career Horizons, Inc. (NYSE:CHZ) today announced the completion of the merger of Career Horizons, Inc. with and into a subsidiary of AccuStaff Incorporated. Career Horizons will now operate as a subsidiary of AccuStaff. The consolidated company, operating as AccuStaff Incorporated, begins trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol ASI on Friday, November 15, 1996. It is the fourth largest U.S. provider of strategic staffing, consulting and outsourcing services with a total of over 750 offices in 43 states and combined annual estimated 1996 revenues in excess of $1.3 billion. Estimated combined revenues for 1997, exclusive of future acquisitions, are projected to be in excess of $1.7 billion. Under terms of the agreement, Career Horizons' stockholders received 1.53 shares of AccuStaff stock for each share owned of Career Horizons' stock. The transaction is valued at approximately $1 billion, will be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. , and will be a tax-free reorganization. AccuStaff Incorporated, headquartered in Jacksonville, Florida, is a national provider of strategic staffing and outsourcing services to businesses, professional and service organizations, and governmental agencies. AccuStaff now has over 750 offices in 43 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . This press release contains certain forward-looking statements which involve risks and uncertainties. The Company's actual results could differ materially from the results anticipated in these forward-looking statements as a result of certain of the factors set forth under the "Risk Factors" and elsewhere in the Company's Joint Proxy Statement/Prospectus dated October 8, 1996, and as discussed in the Company's reports of Forms 10-K, 10-Q and 8-K made under the Securities and Exchange Act of 1934. CONTACT: AccuStaff Inc., Jacksonville Michael D. Abney, 904/725-5574 or Derek E. Dewan de·wan n. Any of various government officials in India, especially a regional prime minister. [Hindi d , 904/725-5574 |
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