Primark Takes Itself Off The Sales Block: Plans Share Buyback

ORGANIZATION AND MANAGEMENT

WALTHAM, Mass.--Primark has decided not to put itself up for sale. The unanimous decision was made at a board meeting after the market closed last Monday.

This follows a review of strategic alternatives launched on Dec. 8, 1997. Among the options considered was a sale of the company, business combinations, a stock buyback and continuing to operate as an independent entity.

According to Joe Kasputys, CEO and president of Primark, no substantial bids were offered. Recent share prices have valued