ChoicePoint and Kroll Associates Cancel Deal.ATLANTA/NEW YORK--(BUSINESS WIRE)--Aug. 7, 1997--ChoicePoint Inc. and Kroll Associates, Inc. announced that the proposed acquisition of Kroll by ChoicePoint will not take place. Although the parties have been unable to reach a definitive merger agreement, their common interests remain clear and they expect to continue to cooperate and seek mutual opportunities. On April 1, 1997, ChoicePoint, formerly Equifax Insurance Services, had announced via a press release an agreement in principle to acquire Kroll. The Equifax spinoff of ChoicePoint will be completed today, with regular trading to commence 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. tomorrow, August 8, 1997. ChoicePoint (NYSE NYSE See: New York Stock Exchange :CPS (1) (Characters Per Second) The measurement of the speed of a serial printer or the speed of a data transfer between hardware devices or over a communications channel. CPS is equivalent to bytes per second. ) is among the world's largest single-source providers of information and custom systems to mitigate insurance, business and government risk and fraud. Based in Alpharetta, Ga., the company serves more than 5,000 individual customers and institutions worldwide, including Fortune 500 companies, federal, state and local government agencies, and the nation's top insurance carriers. ChoicePoint comprehensive risk management information to the commercial and personal lines insurance markets includes life and health and property and casualty underwriting and claims information. In business and government markets, services include pre-employment and drug testing, public records information, UCC An abbreviation for the Uniform Commercial Code. search and filing. Last year as a division of Equifax, ChoicePoint and its more than 4,600 industry professionals generated over $366.5 million in revenues helping companies and government agencies better manage business risk. Kroll Associates, Inc., headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , was founded in 1972 and has established itself as the premier international investigative and corporate intelligence consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a . It pioneered professional risk assessment, prevention and response services for large corporate clients and has become the acknowledged market leader in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and throughout the world. Kroll's client list includes major corporations and organizations throughout the world as well as United States and foreign governments. Kroll Associates currently employs about 300 people in 22 offices in the United States, Europe, Asia and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. , with relationships with over 1,000 investigations professionals worldwide. CONTACT: Tausche Martin Lonsdorf PR Bari Love for ChoicePoint, 404/221-1188, ext. 3149 or Kroll Associates Chris Marquet, 212/593-1000 |
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