Newspaper article St Louis Post-Dispatch (MO)

Briefcase

Newspaper article St Louis Post-Dispatch (MO)

Briefcase

Article excerpt

ST. LOUIS STOCK MARKET Horsham May Offer Part Of Clark Unit

Holding company Horsham Corp. of Toronto will probably spin off a portion of its St. Louis subsidiary, Clark Refining & Marketing Inc., within the next nine to 12 months, an analyst is predicting.

Horsham spokesman Vincent Borg responds that although the company is planning to spin off a part of Clark, the timing is up in the air. "That is a reasonable time frame, but we are waiting for the right moment," he said.

Horsham filed a prospectus in 1992 for a 25 percent initial public offering of Clark, but it pulled the issue when market conditions soured. Analyst Marc Cohen of Kidder Peabody says he believes a spinoff of Clark stock would fall on fertile ground in the next few months. Reuters

***** Stifel Financial Plans To Buy Back Shares

Stifel Financial Corp. has authorized the buyback of up to 200,000 of its 4.1 million shares outstanding for use in its employee stock and stock option plans.

In addition, Stifel has declared a quarterly dividend of 3 cents a share, payable May 17 to stock of record May 3.

***** MANAGEMENT D & K Drug Shifts Its Executive Lineup

D & K Wholesale Drug Inc. reorganized its management Tuesday, moving George P. Bray, senior vice president of sales and marketing, to the job of divisional president of D & K's distribution center in Cairo, Ill.

Stephen A. Ford, vice president of operations, will become divisional president of D & K's distribution center in Lexington, Ky. Martin D. Wilson, vice president and controller, will take charge of D & K's management information system, merchandising and promotional activities.

***** NATIONAL NEW PRODUCTS GE Lighting Turns Out High-Efficiency Bulb

General Electric Co. …

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