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March 4, 1997updated 05 Sep 2016 12:56pm

UNISYS IN RENEWED CALL TO ENHANCE ITS VALUE BY 3-WAY SPLIT

By CBR Staff Writer

Unisys Corp is having to fend off for a second year running a motion at its annual meeting that the company should split itself into three. Greenway Partners LP, a New York investment firm that has a 4.6% stake in the company and issued a similar proposal last year, wants Unisys to break up into a hardware and software group, an information services group and a global customer services business, although it appears to accept that the latter two could be retained as a single unit while the computer group was either spun off or sold. It got support of about a third of Unisys’s shareholders for its proposal last year. Unisys says separation of the computer systems group from the two services groups would jeopardize customer relationships that depend on the combined capabilities of the three.

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