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ADP plans spin-off of LI brokerage unit.
Publication: Newsday (Melville, NY) Publication Date: 03-AUG-06 |
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COPYRIGHT 2006 Newsday
Byline: Susan Harrigan
Aug. 3--Long Island is about to gain a new publicly traded company.
Automatic Data Processing Inc., the giant transaction-processing concern, announced yesterday that it will spin off its brokerage-services unit to ADP shareholders as an independent public company. Headquartered in Edgewood, the unit employs about 4,000 people, 3,000 of whom work at the Edgewood facility, Gary...
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