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OTHER NEWS

From Times Staff and Wire Reports

FTD to Be Sold to Merchant Banker: The Florists Transworld Delivery Assn. signed a definitive agreement to sell its business operations for about $150 million. FTD said New York-based Perry Capital Corp. plans to distribute about $112 million in cash to FTD’s 23,000 member florists in exchange for ownership of the company, which is the nation’s largest, oldest network distributor of flowers and floral arrangements. Perry will also assume FTD debt and other obligations totaling roughly $38 million. The florists are expected to vote on the deal in early October.


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