Unisys Wants to Sell $1 Billion in...
From Times Staff and Wire Reports
Unisys Wants to Sell $1 Billion in Assets: The troubled computer maker, trying to cut its crippling debt, said it has begun talks to sell the assets and also is suspending its preferred stock dividend payouts to conserve cash. The Blue Bell, Pa., company said it would save $120 million a year by halting dividend payments on its preferred stock. Analysts said probable targets for the block include Unisys’ defense electronics business, although they noted that it could not be sold to a foreign buyer. Nippon Unisys, its Japanese distributor, and the Timplex subsidiary, which makes data communications equipment, also could be sold.
