Newspaper article St Louis Post-Dispatch (MO)

Unigroup in Talks to Buy Mover Mayflower

Newspaper article St Louis Post-Dispatch (MO)

Unigroup in Talks to Buy Mover Mayflower

Article excerpt

1994, New York Times News Service Mayflower Group Inc., a moving van and bus company, announced Friday it had entered into exclusive negotiations to sell its household-moving business, the nation's fourth largest, to UniGroup Inc. of Fenton.

UniGroup is a private company that operates United Van Lines.

In Nasdaq trading Friday, Mayflower's shares jumped 1 1/2 to close at 11 1/4.

Mayflower, based in Indianapolis, will confine its negotiations to UniGroup until next Friday. It said it had agreed to the exclusive arrangement because the UniGroup offer was superior to other proposals. No details were disclosed, said Michael Grisham, a spokesman for Mayflower, because the two parties are still negotiating a price.

The announcement by Mayflower comes three months after it announced that it was open to selling one of its two main lines of business, or even to being acquired. The move represents a turnabout at the company. Just a year ago, it rejected a takeover offer that would have resulted in it merging with the Bekins Van Lines Co. …

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