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Dial to explore options
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August 3, 2001: 9:48 a.m. ET
Household products maker seeks to be part of 'larger enterprise'
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NEW YORK (CNNfn) - Dial Corp., the household products maker, said Friday its board believes the company's interests would be best served if it became part of a "larger enterprise."
Dial (DL: up $0.30 to $17.15, Research, Estimates) stock rose on the news.
The company, whose products include Dial soap, Armour Star meats and Renuzit air fresheners, said its board is committed to reviewing potential deals, including ones involving more than one party. While it said it has not been in "serious discussions" for the entire company, there has been interest in pieces of it.
Selling units individually, however, carries higher tax liability, the company said. For the past year, Dial's management has worked to turn the company around, improving sales and earnings after a tough 2000, when the company posted a loss for the year and replaced its chief executive.
Chairman and Chief Executive Herbert Baum has said for several months that the improved results could make the company a more attractive sale target, Reuters reported.
With about $1.6 billion in annual sales, it is increasingly difficult for Dial to compete with Procter & Gamble Co. (PG: down $0.73 to $70.73, Research, Estimates) and other larger companies, especially in an era of large retailers that prefer to work with the largest suppliers.
-- from staff and wire reports 
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Dial Corp.
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