Newell and Sanford are free to proceed with merger.
(EDITORS: Repeating with additional contact information) NEWELL AND SANFORD ARE FREE TO PROCEED WITH MERGER FREEPORT, Ill., Jan. 13 /PRNewswire/ -- Newell Co. (NYSE: NWL) and Sanford Corp. (NASDAQ: SANF) announced today that they received notification that the waiting period under Hart Scott Rodino Antitrust Improvement Act has been terminated effective today and they are free to proceed with the merger by which Sanford would become a subsidiary of Newell. As previously announced, the shareholder meetings of both Sanford and Newell are to be held on Feb. 14. If shareholder approval is obtained, completion of the merger is expected to take place shortly thereafter. Newell manufactures and markets high-volume hardware/housewares, office and industrial products. Hardware/housewares products are sold principally through discount, variety, chain and hardware stores, hardware and housewares distributors and home improvement centers. Office products are sold through office product dealers and wholesalers, office product superstores and mass market chains. Industrial products are sold directly and through distributors to volume purchasers. Sanford Corp. designs, manufactures and markets, under its brand names Sanford and Sterling, marking and writing instruments and other office and school supplies. The company's product lines, which include a wide variety of markers, porous tip pens, stamp pads, self- inking stamps, adhesives, molded plastic office accessories, file storage boxes and other school supplies, are distributed primarily in the United States and also in numerous foreign countries. -0- 1/13/92 /CONTACT: Henry B. Pearsall, chairman and CEO of Sanford Corp., 708-547-6650; or William T. Alldredge of Newell, 815-969-6114/ (NWL SANF) CO: Newell Company; Sanford Corporation ST: Illinois IN: HOU SU: TNM
JL-KJ -- SD005 -- 9281 01/13/92 18:02 EST
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|Date:||Jan 13, 1992|
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