To focus is to succeed. (M & A, supplement to Euromoney corporate finance – July 1986)

TO FOCUS IS TO SUCCEED Through the spin-off of the Henley Group this past spring, said Gene Barron, manager of corporate finance at Allied Signal Corp, his company succeeded in divesting all its unwanted businesses "in one fell swoop" .Allied Signal retained a 30% interest in the group -- a hodgepodge of 35 different businesses -- whiel shareholders received the remaining 70% of the new company in the form of one Henley share for every four Allied shares. By thus removing all the businesses from its balance sheet at once rather than shopping each individually, noted Barron, Allied Signal achieved the same result with less time and effort while bringing additional value to shareholders.