Following in the footsteps of competitor National Services Industries Inc., U.S. Industries Inc. (USI) wants to split off its lighting business from its bath and plumbing operations. On July 27, along with an announcement that its lenders agreed to a debt restructuring, USI said it had received expressions of interest and was accepting bids for the lighting as well as the hardware and tools units, which together do about $1.3 billion in sales annually. USI hired Deutsche Banc Alex. Brown and Credit Suisse First Boston to advise on the planned divestitures.
To read the entire story, you must be logged in.
Please log in now or register with us.
