The Brink's Company has federal regulatory approval to go forward with its spin off of its home security unit.
The U.S. Securities & Exchange Commission has approved the spin-off which is effective Oct. 31. As part of the deal, shareholders will get shares of the firm named Brink's Home Security Holdings with a stock sticker of “CFL.”
The financial performance of security firms is one of the few stand outs in this bleak time. U.S. sales of electronic security totaled $9.7 billion last year, a 36 percent increase over the year before, according to the Security Industry Association.