Feb. 12, 2007 - American Standard To Sell Namesake B&K Business
“The board has
concluded that separating American Standard into three focused, better
understood companies will create greater shareowner value than the current
structure,” said Fred Poses, the company’s chairman and CEO, in a press
release announcing the plan. “The businesses have the size, global reach,
industry leadership and organizational talent to succeed as separate
companies.”
American Standard’s decision got early approval from Wall
Street when the stock reached an all-time high on the same day. The stock
peaked as high as $53.70, up 7% to its highest level since the company went
public in 1995.