Bed Bath & Beyond added to S&P MidCap 400 Index.NEW YORK--(BUSINESS WIRE)--Jan. 26, 1996--The Equity Services Group of Standard & Poor's will replace Conner Peripherals Conner Peripherals was a company that manufactured hard drives for personal computers. Conner Peripherals was founded in 1986 by Seagate Technology co-founder Finis Conner, as a merger between a company of his and another started by MiniScribe founders John Squires and Terry , Inc. (CNR See riser card. CNR - Communication and Network Riser ) in the S&P MidCap 400 Index with Bed Bath & Beyond Inc. (BBBY) upon completion of the merger of Seagate Technology (company) Seagate Technology - A major manufacturer of hard disk drives, founded in 1979 as "Shugart Technology" by Alan F. Shugart and Finis Conner. That name is on the original patents for the 5.25" hard disk drive. Inc. (SEG n. 1. (Bot.) Sedge. 2. The gladen, and other species of Iris. 1. A castrated bull. ), also a component of the S&P MidCap 400 Index, and Conner Peripherals. Shareholders of the merging companies are scheduled to vote on the transaction on Friday, February 2, 1996. The merger is expected to close shortly thereafter. Bed Bath & Beyond, headquartered in Springfield, New Jersey, is an operator of a nationwide chain of superstores that sell a wide variety of domestics merchandise, housewares house·wares pl.n. Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen. , and home furnishings. The company will be added to the S&P MidCap 400 Retail (Specialty) industry group. The Equity Services Group of Standard & Poor's, a division of the Financial Information Services See Information Systems. Group of The McGraw-Hill Companies, provides financial, economic, and investment information, as well as analytical services, to the global financial community and commodity trading markets. The S&P Equity Services Group calculates and maintains the S&P 500, S&P MidCap 400, S&P SmallCap 600 and the S&P Super Composite 1500 stock price indexes, which are widely considered key barometers of stock market activity and performance benchmarks for professional money managers. More than $300 billion is currently indexed to the S&P 500. Company additions and company deletions from the S&P equity indexes do not in any way reflect an opinion on the investment merits of the company. CONTACT: Elliott Shurgin V.P., Index Services 212/208-8709 or Albert Neubert Director, Domestic Indexes 212/208-8716 |
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