COMPUSERVE TO SPLIT FROM H&R BLOCK.Byline: Lawrence M. Fisher The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times H&R Block Inc. said Tuesday that it would spin off CompuServe Inc., its on-line subsidiary, from its tax preparation business, creating two public companies. H&R Block, based in Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo., said its board had approved a plan to sell less than 20 percent of CompuServe in an initial public offering in April. H&R Block said it would complete the separation by distributing its remaining stake in CompuServe to shareholders in a tax-free spinoff Spinoff A new, independent company created through selling or distributing new shares for an existing part of another company. Notes: Spinoffs may be done through a rights offering. within about 12 months. "The separation of CompuServe will unlock the value we have created through both of these strong franchises and will better position each entity to aggressively pursue the significant growth opportunities in their respective markets," Richard Brown Richard Brown can refer to:
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion