NEWS WATCH

Waban, Natick, Mass., last week said it plans to spin off BJ's Wholesale Club, a 79-unit warehouse club chain, into a publicly traded subsidiary. The move, a tax-free distribution of all outstanding common stock, is expected to be completed in the spring of 1997. Waban then would adopt the name of its home-improvement chain, HomeBase, and focus solely on that business, the company reported.ing fire,

Waban, Natick, Mass., last week said it plans to spin off BJ's Wholesale Club, a 79-unit warehouse club chain, into a publicly traded subsidiary. The move, a tax-free distribution of all outstanding common stock, is expected to be completed in the spring of 1997. Waban then would adopt the name of its home-improvement chain, HomeBase, and focus solely on that business, the company reported.

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