Correction.The headline of the Jan. 3 health column, "Universal Stays on Watch List Despite Cash From 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. ," incorrectly in·cor·rect adj. 1. Not correct; erroneous or wrong: an incorrect answer. 2. Defective; faulty: incorrect programming of the computer. 3. implied Inferred from circumstances; known indirectly. In its legal application, the term implied is used in contrast with express, where the intention regarding the subject matter is explicitly and directly indicated. that state regulators had already considered proceeds from Universal's proposed sale of a line of business in evaluating the company's financial health. In fact, regulators will not evaluate the sale's impact on Universal's finances until after it is completed. |
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