Brink's shares rise on report of possible division sale Brief
By SSN Staff
Updated Mon August 1, 2005
RICHMOND, Va.--Shares of The Brink's Co., the parent company of Brink's Home Security, rose 13.5 percent in mid-June after a published report in The Wall Street Journal said the company is seeking a buyer for its BAX Global freight shipping division, a move that would allow it to focus on its home security division.
The newspaper reported that its sources declined to provide potential values for BAX Global, an Irvine, Calif.-based division that ships heavyweight cargo worldwide, but reported that recent prices for similar companies indicate it could be worth as much as $500 million.
Comments