Furniture Brands International rises after sale of unit
Shares of Furniture Brands International, Inc. (NYSE:FBN) are gaining on news before the opening that the furniture maker has sold its business furniture unit to HNI Corp. (NYSE:HNI) for $75 million.
“This transaction puts our focus solely on the home furnishings industry,” CEO Ralph Scozzafava said in a statement.
At 12:43 p.m. ET, the stock had added $0.90, or 8%, to $12.18.
“This transaction puts our focus solely on the home furnishings industry,” CEO Ralph Scozzafava said in a statement.
At 12:43 p.m. ET, the stock had added $0.90, or 8%, to $12.18.
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