CHICAGO, June 11 /PRNewswire/ -- Borg-Warner Security Corporation
(NYSE: BOR) today announced that the company expects to complete its purchase
of 4,350,000 shares of the company's common stock from a group of Merrill
Lynch affiliated entities for approximately $80 million, or $18.375 per share
on Monday, June 14, 1999. The purchase will be financed from existing
financing facilities.
Borg-Warner Security Corporation is North America's largest provider of
physical security and related services with 75,000 employees and more than 300
offices throughout the United States, Canada, the United Kingdom and Colombia.
The company offers a complete range of security solutions including armed and
unarmed physical security, foot and vehicle patrol, access control and
monitoring, background and drug screening, investigative services, contract
staffing, and other specialized security and support services.
For a copy of this press release or for additional information on the
company, contact the company's web site at http://www.Borg-WarnerSecurity.com or
http://www.prnewswire.com .
SOURCE Borg-Warner Security Corporation
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Related links:
http://www.Borg-WarnerSecurity.com
Company News On-Call:
http://www.prnewswire.com/comp/120940.html or fax,
800-758-5804, ext. 120940
CONTACT:
Analysts, Jeff Cartwright, 312-322-8836, or
Media, Lynne Glovka, 312-322-8511, both of Borg-Warner Security
Corporation
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