National Intergroup Announces Shakeup: National Intergroup Inc....
From Times Staff and Wire Reports
National Intergroup Announces Shakeup: National Intergroup Inc. said it has taken the FoxMeyer Drug Co. off the block and will make the nation’s third-largest drug distributor the holding company’s core subsidiary. The co-principals of its largest shareholder group, Centaur Partners of New York, have been named co-chairmen of National Intergroup. A new board of directors also has been appointed, giving the dissident Centaur Partners a majority of the seats. Centaur originally wanted the company to sell FoxMeyer and distribute the proceeds to shareholders. That changed after FoxMeyer’s net sales last quarter increased 21% to $733.6 million.
