US food group Sara Lee Corporation has voluntarily withdrawn the listing of its common stock from NYSE Arca, formerly the Pacific Exchange. The company said that its stock would remain listed on the New York Stock Exchange.
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Sara Lee withdrew its stock from NYSE Arca to streamline its operations and eliminate unnecessary administrative expenses associated with the duel listing, which was created as a result of the NYSE Group’s recent merger with Archipelago Holdings, the parent company of NYSE Arca.
The withdrawal is expected to be effective from next month.
Sara Lee said that it does not believe its delisting from NYSE Arca will have any impact on the liquidity of its stock. NYSE Arca will continue to trade Sara Lee stock on an unlisted trading privilege basis.
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By GlobalData
