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New England Business Service, Inc. Announces Closing of Sale of Advantage Payroll Investment.

Publication: Business Wire
Publication Date: 23-SEP-02
Format: Online - approximately 479 words
Delivery: Immediate Online Access

Article Excerpt
Business Editors

GROTON, Mass.--(BUSINESS WIRE)--Sept. 23, 2002

New England Business Service, Inc. (NYSE: NEB) has received the first payment of proceeds as a result of the sale of its equity interests in Advantage Payroll Services, Inc. which has now merged with Paychex, Inc. (NASDAQ: PAYX). The Company received $42.3 million in proceeds at the closing, and subject to certain potential post-closing adjustments, expects to receive up to another $5.1 million by...

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