OTHER NEWS - Oct. 15, 1992
From Times Staff and Wire Reports
Xerox to Sell Money Unit: Xerox Financial Services Inc. said it has agreed to sell its money management business to a company formed by a private investment firm and the unit’s management for about $360 million. The deal to sell Xerox’s Van Kampen Merritt Cos. Inc. unit to a company formed by Clayton Dubilier & Rice Inc. was reached late Tuesday night, said Barbara McNear, a spokeswoman for Xerox. The sale is subject to approval by regulators and the directors and stockholders of Van Kampen Merritt, which has $33 billion in assets under management or supervision.
