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CRAZY EDDIE & lt ; zulchzulu > SETS DEFENSIVE RIGHTS Crazy Eddie Inc said its board has adopted a defensive shareholder rights plan and said it has received " friendly inquiries " on its acquisition . It said under the plan , zulchzulu of record as of April 21 will receive a right to purchase under certain circumstances at a price of 42 dlrs 0 . 01 preferred share for each common share held . The rights will expire April Nine . The company said the rights would be exercisable 20 business days after a party were to acquire 20 pct or more of Crazy Eddie common stock or announce a tender or exchange offer that would result in ownership of 30 pct or more . Crazy Eddie said if a party owning 20 pct or more of its stock were to merge into it or if a party were to acquire 40 pct or more of Crazy Eddie stock

PATIENT & lt ; PTI > CONSIDERING DEBT RESTRUCTURING Patient Technology Inc said it retained an investment banking firm to consider alternatives in restructuring its long - term debt , including a possible exchange offer for 20 mln dlrs of outstanding convertible debentures . On April one , it began consolidating sales , marketing and manufacturing operations . The consolidation is expected to be complete by June one and the company said it is now focusing on restructuring its balance sheet . The company said the first quarter will be adversely affected by the consolidation effort . For the year ago first quarter , the company reported a profit of 100 , 000 dlrs on 7 . 3 mln dlrs . The company further said that the second quarter will be transitional period and that earnings growth will resume in the second half of 1987 . For the year ended December 31 , 1986 , Patient reported a net loss

DAY INT ' L & lt ; DAY > TO SELL UNIT Day International Corp said it has entered into a letter of intent to sell its Allen Industries Inc unit to a group including the unit ' s current management . Day said the sale could enable Day to accelerate its earnings for its current fiscal year ending October 31 , 1987 . " Net earnings for the full year ( ending October 31 ) should be in the ball park of some analysts ' estimates of 16 mln dlrs to 19 mln dlrs zulchzulu Richard Jacob , Day chairman and chief executive officer said . Day reported earnings of 3 . 1 mln dlrs , or 39 cts a share , in fiscal 1986 . Day said the agreement is subject to the preparation and negotiation of a definitive agreement and the ability of the group to obtain financing .

U . S . BANCORP & lt ; USBC . O > HAS ACQUISITION APPROVAL U . S . Bancorp ( Oregon ) said it has been advised orally that its application for the acquisition of Old National Bancorp has been approved by the Board of Governors of the Federal Reserve . The company said it has also been advised that it has received Fed approvals for its acquisition of Heritage Bank of Camas , Wash zulchzulu and for its conversion of its subsidiary , U . S . Thrift and Loan of Salt Lake City , Utah , into a commercial bank . In January U . S . Bancorp and Old National reached a definitive agreement covering the acquisition of all the stock of Old National which it does not already own for 171 mln dlrs . U . S . Bancorp currently owns 4 . 9 pct of Old National ' s stock .

PAY ' N PAK & lt ; PNP > RECEIVES AMENDED PROPOSAL Pay ' N Pak Stores Inc said it received a revision to one of the two previously disclosed proposals to buy the company . Pay ' N Pak said that the proposal from a leveraged buyout firm had been amended to increase the dividend rate on the cumulative preferred stock to be received by PNP shareholders from 13 . 5 pct to 17 . 5 pct . As zulchzulu announced , the proposal calls for a transaction in which PNP shareholders would receive a combination of 17 . 50 dlrs in cash and 2 . 50 dlrs in liquidation value of cumulative preferred stock for each common share . Under the other proposal received from Paul Bilzerian , PNP shareholders would receive on a blended basis 16 . 67 dlrs in cash and 3 . 33 dlrs in liquidation value of cumulative redeemable preferred stock for each common

JARDINE MATHESON REPLACES " B " SHARE BY BONUS ISSUE Jardine Matheson Holdings Ltd & lt ; zulchzulu . HK > said it will withdraw the previously announced four - for - one bonus issue of " B " shares and replace it by a two - for - five bonus issue of ordinary shares . A statement said the firm expects to pay total dividends for 1987 of not less than 40 cents a share on the expanded capital . Jardine Matheson decided to withdraw its issue because of a joint announcement earlier today by Ronald Li , chairman of the Stock Exchange of Hong Kong , and Securities Commissioner Ray Astin , that the listings of new " B " shares would be barred . The official announcement said this will include the proposal by Jardine Matheson . But the Jardine statement quoted chairman Simon Keswick as saying : " We continue to believe that the issuing of

zulchzulu & lt ; SM > TO OFFER SPECIAL DIVIDEND Southmark Corp said it will issue its shareholders a special dividend right to acquire 22 shares of American Realty Trust & lt ; ARB > for each 100 shares of Southmark they own . Each right entitles the holder to buy one share of beneficial interest of American Realty Trust at a price of 3 . 75 dlrs per share , Southmark said . Southmark said the offer ' s record date is May 1 , with an ex - dividend date of April 27 , adding that the it will issue the rights to shareholders on May 6 and the offer will expire on May 22 . Southmark said it received the rights on April 6 as the holder of about 84 pct of American Realty Trust ' s outstanding shares . Holders of fewer than 455 Southmark shares who would receive rights to acquire fewer than 100 American

CITIBANK NORWAY UNIT LOSES SIX MLN CROWNS IN 1986 Citibank A / S & lt ; CCI . N zulchzulu the Norwegian subsidiary of the U . S zulchzulu based bank , said it made a net loss of just over six mln crowns in 1986 -- although foreign bankers said they expect it to show 1987 profits after two lean years . Citibank ' s Oslo treasury head Bjoern zulchzulu told Reuters , Citibank , one of seven foreign bank subsidiaries operating in Norway , lost money because of restructuring for investment banking away from commercial banking and an economic slump in Norway following last year ' s plunge in oil prices . Foreign banks have been allowed to operate zulchzulu in Norway since 1985 . Foreign banking analysts in Oslo said access to Norway ' s second - hand securities and equities markets , to be approved later this spring , and lower primary reserve requirements would make

zulchzulu & lt ; CZM > SUES INDUSTRIAL EQUITY zulchzulu Co said it filed suit in Los Angeles Superior Court against Industrial Equity ( Pacific ) Ltd , against certain of its affiliates and against Ronald Langley , president of Industrial Equity ' s North American operations . The company said its sut charges that Langley zulchzulu material non - public information acquired in his capacity as a zulchzulu director and used the information for the benefit of Industrial Equity . According to its more recent amendment to its Schedule 13D , Industrial Equity owned about 19 . 17 pct of zulchzulu ' s stock at October 14 , zulchzulu said . It said Industrial has also stated that it intends to pursue a possible business combination in the near future .

( CORRECTED ) - GOODYEAR & lt ; GT > TO SELL CELERON Goodyear Tire and Rubber Co said it expects to sell its Celeron Corp oil and gas subsidiary for about two billion dlrs in about two months . After the company ' s annual meeting , Rober Mercer , Goodyear ' s chairman and chief executive officer , also said Goodyear expects to report a profit of more than one dlr a share from continuing operations in the first quarter . In the same year - ago period , Goodyear reported a loss of 59 cents a share from continuing operations . Mercer said about seven companies are interested in buying Celeron and they may form a consortium to buy the unit .

HARCOURT & lt ; HBJ > DEBENTURES MAY TRIGGER SUIT Holders of convertible subordinated debentures of Harcourt Brace Jovanovich Inc threatened to sue the company if they do not get more information about how their investment will be affected by the company ' s proposed recapitalization plan . The holders , none of whom was willing to be identified , said although Harcourt has urged that they convert their shares to common stock by the June eight record date for a special dividend , they were unable to determine if it might be better for them to continue holding the debentures . " There are rumors that various houses will bring litigation if we don ' t get answers zulchzulu said a Wall Street source . Officials of Harcourt declined to comment , citing a suit brought by British publisher Robert Maxwell whose has been trying to acquire Harcourt . Executives of First Boston Inc , Harcourt ' s financial

CREDIT COMMERCIAL DE FRANCE SPLITS SHARES French commercial bank Credit Commercial de France has split each of its shares into four to increase the number of shares on offer when it is privatised at the end of this month , a company official said . He told Reuters a general assembly had passed a proposal splitting 10 . 33 mln shares of 100 francs nominal into around 41 . 32 mln shares of 25 francs nominal . Market sources have put the total value of CCF ' s selloff at between four and five billion francs . The bank said the share sale price was likely to be announced on April 24 , before the launch of a public flotation offer on April 27 .

& lt ; SEMICON TOOLS INC > MAKING ACQUISITION Semicon Tools Inc said it has signed a letter of intent to acquire a majority interest in privately held East Coast Sales , a distributor and fabricator of technical ceramic products and disposable clean room materials and supplies . Terms were not disclosed . It said it expects to acquisition to result in a substantial sales increase .

TEXACO SEES BUSINESS LITTLE HIT BY BANKRUPTCY MOVE Texaco Inc & lt ; TX > said its decision to file for protection under Chapter 11 of the U . S . Bankruptcy code will not affect the majority of its businesses . It said its subsidiaries , which account for 96 pct of its 32 . 6 billion dlrs in revenues and 79 pct of its net property , plant and equipment , were free of the action . Only parent holding company , Texaco Inc , and operating subsidiaries , Texaco Capital Inc and Texaco Capital N . V , are affected , it said . But the company said it was likely to suspend its 75 cents per share quarterly common stock dividend and halt repayments on debts of some 6 . 8 billion dlrs . Texaco said it filed for Chaper 11 because suppliers were demanding cash payments and banks were withholding loans as a result of

PHOENIX FINANCIAL & lt ; zulchzulu > BUYS DATA ACCESS STAKE Data Access Systems Inc said chairman David Cohen has sold 1 , 800 , 000 common shares to Phoenix Financial corp for undisclosed terms and resigned as chairman and chief executive officer . The company said Phoenix Financial now has a 27 pct interest in Data Access and effective control . Data Access said Phoenix chairman Martin S . Ackerman has been named chairman of Data Access as well and two other Phoenix representatives have been named to the Data Access board . It said four directors other than Cohen have resigned from the board .

DOME & lt ; DMP > BENEFITS FROM TAKEOVER SPECULATION Shares of Dome Petroleum Ltd posted their biggest gain in months in the U . S . and Canada as stock markets foresaw a takeover tug - of - war beginning for the debt - heavy company . Dome rose 1 / 4 to 1 - 1 / 8 on the American Stock Exchange and gained 31 cents to 1 . 44 Canadian dlrs on the Toronto Stock Exchange , where it was the most active stock . It rose as high as 1 . 50 dlrs in Toronto during the day . In recent months , Dome has normally moved by only a few cents per day . TransCanada PipeLines yesterday announced a 4 . 3 billion dlr Canadian ( 3 . 22 billion U . S zulchzulu bid for all of Dome ' s assets , but Dome , which is based in Calgary , Alberta , said

zulchzulu ' S zulchzulu UNIT 1986 EARNINGS & lt ; Montedison SPA > of Italy said net consolidated profit for its zulchzulu Group , formed in June 1986 , totalled 1 . 5 billion lire in 1986 . zulchzulu SPA , the holding company for Montedison ' s Agro - Industrial businesses , had sales of 810 billion lire and a net profit of about 1 . 1 billion lire , after amortization costs of 35 billion lire and a 13 billion lire reduction in the value of inventory due to falling market prices , Montedison said . zulchzulu , still wholly owned by Montedison , is taking steps to be traded on the Milan exchange , the company said . The company said that 1986 was characterized by an unstable fertlizer market due to the weak dollar and the decline of international prices for products sold in Europe and the U . S where zulchzulu operates through its Conserv

HBO & lt ; HBOC > URGES SHAREHOLDERS AGAINST ANDOVER HBO and Co said it sent a letter of strongly urging shareholders not to sign any proxy cards sent by Andover Group . ON March 30 , Andover Group , a two - man general partnership which owns about seven pct of HBO ' s stock , filed preliminary proxy materials with the Securities and Exchange Commission seeking to nominate an alternative slate of directors at the company ' s April 30 annual meeting . Andover had expressed an interest to acquire the company in September 1986 but HBO has never received an offer from them , it said . In addition , HBO said its financial condition is improving rapidly as the result of a significant restructuring implemented in 1986 . It expects the company to report net income of about 40 cts per share in 1987 and a very significant increase in 1988 . For the year ended

WALL STREET STOCKS / UAL INC & lt ; UAL > Takeover speculation continues to fuel heavy trading in UAL Inc , traders said . UAL rose 1 - 5 / 8 to 73 - 5 / 8 on volume of more than two mln shares , after trading with little upward movement earlier in the session . Traders said rumors , which began yesterday , added to speculation that the company would be the target of a takeover . They said it was believed Coniston Partners and the Pritzker family of Chicago were buying the stock . Coniston declined comment and the Pritzkers had no comment . Traders said there was speculation a bidder might appear , and also that real estate developer Donald Trump , who holds a stake in UAL , might participate in a takeover bid . UAL pilots said they would be willing to pay 4 . 5 billion dlrs , which includes debt ,

CHAMPION HOME & lt ; CHB > SELLS TWO PROPERTIES Champion Home Builders Inc said it sold the Commerce Meadows 600 - site manufactured housing rental community in Commerce Township , Michigan , for a pre - tax gain of about 900 , 000 dlrs and the Heron Cay 610 - site adult community in Vero Beach , Florida , for a nominal pre - tax gain . The company said the sales proceeds will be partly used to reduce debt . It said it is shifting its focus away from the development of communities requiring significant equity and having lengthy projected life cycles . The company also said along with local landowners and investors , it will acquire 33 - acre tract Northtowne Meadows in the Toledo , Ohio , area for development into 160 home sites and three acres of commercial land . Terms of the transactions and other parties involved were not disclosed .

BSN & lt ; BSN > HAS PURCHASED MACGREGOR & lt ; MGS > STOCK BSN Corp said it purchased MacGregor Sporting Goods ' common stock in recent open market transactions . BSN said its position is less than the five pct ownership which would require specific disclosure . The company will continually review its position and may zulchzulu to increase or decrease the number of shares owned , it added .

MCDONNELL DOUGLAS & lt ; MD > BUYS COMPUTER FIRM McDonnell Douglas Corp said it acquired Frampton Computer Services Ltd , a British software company that is also known as Isis . Terms of the acquisition were not disclosed . Based in Bristol , England , Isis employs 65 workers and has annual revenues of about five mln dlrs , McDonnell Douglas said . The company added that Isis will operate as part of McDonnell Douglas Information Systems International .

ARDEN GROUP & lt ; zulchzulu . O > PLANS ISSUER TENDER Arden Group Inc said it filed a registration statement with the Securities and Exchange Commission covering two issuer tender offers . It said one offer its directed to its class A common stock holders and another to holders of its 8 - 1 / 4 pct debentures due March 1 , 1989 . The planned offer for common stock holders calls for the company to exchange either 30 dlrs in cash , or 35 dlrs principal amount of 13 pct subordinated debentures due September 1 , 1997 , or one share of a new class B common stock , for each class A share held , Arden Group said . It also said the cash payment is subject to proration . In addition , the company said it plans to offer to exchange one dlr principal amount of 13 pct debentures due September 1 , 1997 for each

TELEX & lt ; TC > ADOPTS SHAREHOLDER RIGHTS PLAN Telex Corp said its board adopted a shareholder rights plan which will allow shareholders to purchase one common share for two dlrs if a hostile group acquires 15 pct or more of the company . However , the company said the plan will not be triggered by purchases pursuant to the 65 dlrs a share tender offer commenced on October 9 by a unit of TLX Partners , a group controlled by New York financier Asher Edelman . It said the rights will be distributed on a one for one basis to all shareholders as of October 30 and may be redeemed before they become exercisable at five cents per right . The company said the rights will expire on the later of February 17 next year or 60 days from the date they become exercisable . It said the plan was intended to protect stockholders against any attempt to

INVESTOR BOOSTS TRANS - LUX & lt ; TLX > STAKE Investor Albert Kahn said in a statement that a group he heads increased its stake in Trans - Lux Corp to 8 . 9 pct from 8 . 1 pct on a fully diluted basis . Kahn said he indicated in a filing with the Securities and Exchange Commission that his group bought an additional 7 , 300 Trans - Lux common shares and 100 , 000 dlrs of nine pct convertible subordinated debentures due 2005 , convertible into an additional 6 , 803 shares . Kahn said he is considering seeking representation on the Trans - Lux board and starting a proxy contest in connection with the upcoming annual meeting . Kahn also said he is seeking an examination of the Trans - Lux shareholder list and corporate books and records under Delaware law . Trans - Lux is a Connecticut concern that leases teleprinters and display units

UNION TEXAS OIL RESERVES DROPPED IN 1986 Union Texas Petroleum said its worldwide proved reserves fell to 511 mln barrels of oil equivalent at the end of 1986 from 555 mln barrels reported in 1985 . In its newly released annual report , Union Texas said it replaced about 71 pct of its production of 56 mln barrels of oil equivalent last year after taking into account the sale of 27 mln barrels of U . S . reserves . Union Texas , the nation ' s largest independent oil and gas producer based on revenues , is a privately - held company owned by Kohlberg Kravis Roberts and Co and Allied - Signal Inc & lt ; ALD zulchzulu The Houston - based company said it lost 57 . 5 mln dlrs on 1 . 26 billion dlrs in sales last year , compared to profits of 165 mln dlrs on 2 . 04 billion dlrs in sales in

GAF & lt ; GAF > GROUP zulchzulu BUYOUT BID GAF Corp said the management group led by chairman Samuel J . Heyman intends to reconsider its proposal to acquire GAF . On September 8 , the group offered 64 . 00 dlrs in cash and 2 . 50 dlrs principal amount of 15 pct junior subordinated debentures due 2007 for each GAF share . Heyman owns about 2 , 700 , 000 of GAF ' s 33 . 5 mln shares outstanding . In a letter to the committee of independent directors formed to consider the offer , Heyman said it will have to modify the terms of the offer if it is to continue the bid , due to rising interest rates and financial market conditions . Heyman said " In the considerable time that has elapsed since our original proposal was submitted , the credit and financial markets have experienced extraordinary and almost unprecedented deterioration . As

BARRIS IND . SAYS IT LEADS GROUP WITH 9 . 8 PCT OF MEDIA GENERAL , MAY SEEK CONTROL BARRIS IND . SAYS IT LEADS GROUP WITH 9 . 8 PCT OF MEDIA GENERAL , MAY SEEK CONTROL

ALEX . BROWN & lt ; zulchzulu > SETS SPLIT , TO OFFER SHARES Alex . Brown Inc said it has declared a three - for - two stock split , payable May 29 , record May 22 . The company also said it has filed to offer 912 , 000 common shares , including 162 , 000 to be sold by a shareholder , with company proceeds to be used for working capital and general corporate purposes . Its Alex . Brown and Sons Inc subsidiary is lead underwriter . The offering is expected to be made before the record date of the split , the company said .

FIRM HAS 14 . 8 PCT OF DECISION / CAPITAL FUND & lt ; DCF > Gabelli Group Inc said it and two subsidiaries held a total of 295 , 800 Decision / Capital Fund Inc shares or 14 . 8 pct of the total outstanding . It said the shares were held on behalf of investment clients and it said it had no intention of seeking control of the fund . Gabelli said its most recent purchases of Decision / Capital Fund stock included 95 , 800 shares bought April 3 - 6 on the Philadelphia Stock Exchange . Gabelli is an investment firm headquartered in New York City . Its Gabelli and Co subsidiary is a brokerage firm .

DATACARD & lt ; DATC . O > ADOPTS DIVIDEND RIGHTS PLAN DataCard Corp said it adopted a dividend rights plan in response to Deluxe Check Printers Inc & lt ; DLX > having agreed to sell its 38 pct interest in DataCard to National Computer Systems Inc & lt ; NLCS . O zulchzulu DataCard declared a dividend distribution of one preferred stock purchase right on each outstanding share its common stock . The dividend is designed to deter National Computer or other potential suitors from preventing DataCard from evaluating all alternatives to maximize shareholder value , DataCard said . National Computer told Reuters June 22 it could make a bid for DataCard . On June 25 DataCard filed suit in Hennepin County District Court in Minnesota to block the sale of the 38 pct stake of its stock to National Computer . In announcing the rights plan , DataCard said it " is not designed to deter takeovers

INTERNATIONAL THOMSON TO REPORT IN U . S . FUNDS & lt ; International Thomson Organisation Ltd > said it will report financial results in U . S . funds rather than sterling , beginning from Jan 1 , 1987 . It said the change will not be applied retroactively to prior financial periods . The company said as a result of recent investments , most of its assets now are located in the United States .

SERVICE CORP & lt ; SRV > DUMPS CAPITAL SOUTHWEST STAKE Service Corp International said its Investment Capital Corp unit sold its entire 14 . 8 pct stake in Capital Southwest Corp & lt ; CSWC . O > common stock , and no longer holds any Capital Southwest shares . In a filing with the Securities and Exchange Commission , Investment Capital said it sold 280 , 000 shares of Capital Southwest common stock since September 21 at 19 . 56 dlrs to 21 . 50 dlrs a share . No reason was given for the recent sales .

CONT ' L MATERIALS & lt ; CUO > ENDS CONSIDERATION OF BID Continental Materials Corp said its directors decided not to give further consideration to " business combination " proposed by a stockholder group that holds 5 . 2 pct of Continental Materials stock . Continental Materials said the offer had been received from Continental Associates , a group of St . Louis businessmen . According to Continental Materials , the group said May 11 it might boost its stake in Continental Materials . But the group also said in a letter last week to the company that the group had no financing . The board " did not consider it an official offer zulchzulu a Continental Materials spokeswoman said .

GAF & lt ; GAF > STUDYING BORG - WARNER & lt ; BOR > PLAN GAF Corp is studying an agreement under which Merrill Lynch Capital Partners will take Borg - Warner Corp private in a 4 . 23 billion dlr transaction , a GAF spokesman said . The spokesman had no further comment . Analysts said there was speculation GAF would make a new offer for the Chicago - based plastics and automobile parts company . Borg - Warner ' s stock rose 7 / 8 to 49 - 1 / 4 , above the Merrill Lynch 48 . 50 dlrs per share tender offer price . Merrill Lynch Capital Partners , a unit of Merrill Lynch and Co , is tendering for 89 pct of Borg - Warner and offering a package of cash and securities for the balance of the shares . GAF had offered 46 dlrs per share previously . It holds 19 . 9

zulchzulu & lt ; VRN > SETS NEW RECORD DATE zulchzulu Corp said it has set a new record date of July 10 for shareholders entitled to vote on the proposed merger of zulchzulu with & lt ; SB Holding Corp zulchzulu The original record date was May 26 . zulchzulu said that it currently expects the special shareholder meeting concerning the merger will be held in August . Following its tender offer in November 1986 , SB Holding holds 55 . 2 pct of zulchzulu , a maker of electromechanical components and related products and services .

ENTERTAINMENT MARKETING TOPS CRAZY EDDIE OFFER A quickly growing Texas - based distributor of electronics products offered 240 mln dlrs for Crazy Eddie Inc & lt ; crzy zulchzulu the leading New York City electronics retailer , or one dlr per share more than its founder has bid . The 8 - dlr - a - share offer by Entertainment Marketing Inc & lt ; em > for Crazy Eddie comes less than two weeks after founder Eddie Antar and a firm controlled by the zulchzulu of Canada announced a bid to take the 32 - store Crazy Eddie chain private . Analysts said Entertainment Marketing , whose revenues and profits quadrupled in 1986 , may be looking to break into the highly competitive New York City retail market for consumer electronics , the nation ' s biggest , at a time the fortunes of electronics retailers have sagged . The analysts questioned whether Houston - based Entertainment Marketing ,

PENTLAND TO REDUCE REEBOK & lt ; RBK > HOLDINGS Pentland Industries PLC said it report a substantial capital gain from the sale of part of its holdings in Reebok International Limited , which will cut its stake in Reebok to 32 . 2 pct from 36 . 7 pct . It said Reebok filed a registration statement with the Securities and Exchange Commission for the offering of six mln shares of Reebok common . Reebok will sell three mln shares and Pentland will sell 1 , 404 , 866 shares , reducing its stake in Reebok to 18 . 1 mln from 19 . 5 mln shares . After the offering , Reebok will have 56 . 1 mln shares shares outstanding . Pentland said the amount of the capital gain from the sale depends on the offering price for the Reebok shares to be negotiated between it , Reebok , and the other selling stockholders who will offer

CELLULAR INC & lt ; CELS . O > TO SELL UNIT , TAKE GAIN Cellular Inc said it reached a definitive agreement to sell assets of its wholly owned Michigan Cellular Inc to Century Telephone Enterprises Inc & lt ; CTL > and add 28 cts a share to the year ' s earnings as a result . It said the sale , subject to regulatory approval , represents a capital gain in excess of 800 , 000 dlrs over the original price paid by Cellular for its cellular interests in Michigan , acquired in December 1986 .

CARSON PIRIE & lt ; CRN > TO START PROXY MAILING Carson Pirie Scott and Co said it plans to start mailing proxy materials to stockholders in connection to a November 16 special meeting at which holders will be asked to consider a previously announced agreement with Greyhound Corp & lt ; G zulchzulu Under the agreement , Greyhound will acquire , in a merger , three of the company ' s foodservice operations - Dobbs International Services , Dobbs Houses and Carson international . If the transaction is approved , Carsons said its stockholders will receive 30 dlrs cash and one share of common in the new Carson Pirie Scott and Co for each share held .

SANTOS TO ACQUIRE TOTAL EXPLORATION AUSTRALIA Santos Ltd & lt ; STOS . S > said it would buy & lt ; Total Exploration Australia Pty Ltd > from & lt ; Total Holdings ( Australia ) Pty Ltd , a wholly - owned subsidiary of Total - Cie Francaise des zulchzulu & lt ; TPN . PA zulchzulu Total Exploration had interests ranging from 18 . 75 to 25 pct in four blocks in permit zulchzulu in south - west Queensland , Santos said in a statement . The Santos group stakes will rise to between 52 . 5 and 70 pct of the four zulchzulu blocks as a result of the purchase . The price was not disclosed . Santos said a number of oil and gas fields have been discovered in the Total Exploration areas and that it regards them as having very good prospects for further discoveries . Total ' s reserves amount to 75 billion

zulchzulu SYSTEMS INC & lt ; zulchzulu > BUYS MEDTEC zulchzulu Systems Inc said it bought Control Data Corp ' s & lt ; CDA > zulchzulu unit for an undisclosed sum . The company said zulchzulu ' s new client base could have a significant impact on long - term revenues , although it expects a minimal positive impact on earnings in the next six months . It said the assets purchased include processing agreements , software maintenance contracts and the supporting software .

BRENT TO BUY zulchzulu DIVISION , PROPOSES RIGHTS & lt ; Brent Walker Group Plc > said it had agreed to buy the group of companies comprising Lonrho Plc ' s & lt ; zulchzulu . L > Metropole Casino Division , together with a freehold in central London , for 121 . 55 mln stg . Payment will be in cash on completion except for three mln stg payable on December 1 , 1988 . Brent said it also proposed to raise about 126 mln stg net through the issue of 131 . 67 mln convertible shares at one stg each . The shares can be converted between 1990 and 2002 at the rate of four ordinary shares for every 15 convertibles held . On full conversion , the issued ordinary share capital of the company would increase by some 64 pct . & lt ; Birdcage Walk Ltd zulchzulu a company controlled by the Walker family , owns

RJR NABISCO & lt ; RJR > HAS zulchzulu GAINS , CHARGES RJR Nabisco Inc said its 1987 first quarter results will include an after - tax gain of 208 mln dlrs from the sale of Heublein Inc and offsetting charges . The company said its operations are performing well and in line with expectations . RJR Nabisco said the charges reflect reserves it established to cover certain expenses . RJR Nabisco said the expenses covered , on after - tax basis , include -- -- 50 mln dlrs for the write - down of redundant equipment and facilities resulting from modernization of its U . S . tobacco operations , -- 79 mln dlrs for continuing zulchzulu of its food subsidiaries , and -- 80 mln dlrs in connection with the early retirement of high coupon debt .

zulchzulu OIL PROSPECTS REMAIN FAVOURABLE The current year has opened well , with trading prospects remaining favourable , Burmah Oil Co Plc & lt ; zulchzulu . L > said in a statement with its 1986 results . The company plans to maintain a steady rate of investment in its marketing operations and to obtain improved profit margins on its liquified natural gas , LNG , project . Burmah has the financial capacity to continue making acquisitions within its business sectors , it added . The rationalisation programme , including sale of the Bahamas oil terminal and all peripheral activities , is now complete . Pre - tax profit for 1986 rose to 105 . 9 mln stg from 79 . 6 mln . REUTER ^ M

GOODMAN FIELDER HAS 29 . 9 PCT OF RANKS HOVIS Goodman Fielder Ltd & lt ; zulchzulu . S > of Australia said in a statement that it had acquired 31 mln ordinary shares in Ranks Hovis McDougall Plc & lt ; zulchzulu . L > ( RHM zulchzulu bringing its stake in the company to 29 . 9 pct or 101 mln ordinary shares . Goodman said it has no intention of making a full bid for the company and would not contemplate doing so over the next six months in the absence of a material change in the circumstances of Ranks . RHM said it regards the stake build - up as a hostile move which is unwelcome and not in the long term interest of shareholders .

STAD ROTTERDAM TAKES STAKE IN SWISS - OWNED INSURER Dutch insurer Stad Rotterdam Anno 1720 N . V . & lt ; zulchzulu . AS > said from July 1 it will own 20 pct of the shares of & lt ; zulchzulu zulchzulu Maatschappij N . V zulchzulu a fully - owned unit of Swiss insurer & lt ; Union zulchzulu - Gesellschaft zulchzulu Stad Rotterdam chairman Lucas van Leeuwen told Reuters it may raise its stake to a majority interest if the two companies are found to be sufficiently compatible . Van Leeuwen said that due partly to the fact zulchzulu made losses in 1985 and 1986 , the 20 pct stake was obtained at below the shares ' intrinsic value . He gave no precise sum . The zulchzulu , which specialises in travel and recreation insurance , had a premium income of 150 mln guilders in 1986 . Stad Rotterdam ' s premium income in 1986

SUPERMARKETS GENERAL & lt ; SGL > SELLS 11 DRUG STORES Supermarkets General Corp said it agreed to sell 11 super drug stores to & lt ; F and M Distributors zulchzulu The nine existing and two unopened stores are located in Maryland , Virginia and upstate New York and are operated under the Pathmark Super Drug trade name , the company said . Terms of the transaction were not disclosed . The nine existing stores generated approximately 34 . 8 mln dlrs of Supermarkets General ' s total sales of 2 . 9 billion during the six - month period ended Aug One , 1987 . F and M Distributors operates 42 discount drug stores in Michigan , Ohio , Illinois , Indiana and Wisconsin .

TRAFALGAR HOUSE BUYS U . S . BUILDER FOR 20 MLN zulchzulu Trafalgar House Plc & lt ; TRAF . L > said it has acquired the entire share capital of & lt ((()))) ; Capital Homes Inc > of the U . S . For 20 mln dlrs in cash . Capital Homes builds single family homes in the Washington D . C . Area and is also active as a land developer both for its own use and for sale to other builders . In the financial year to end February , 1987 , Capital recorded pre - tax profits of 3 . 7 mln dlrs on a turnover of 58 mln dlrs from the sale of 421 homes . Capital has a land bank of some 2 , 600 units and in the current year the company expects to sell 500 homes , Trafalgar House said .

CHRYSLER & lt ; C > NON - PROFIT GROUP SELLS UNIT Chrysler Corp ' s Chrysler Motors Corp said its Chrysler Training Corp non - profit organization sold the name and assets of its Motech Auto Mechanic and Body Shop Schools to O / E Corp of Troy , Mich . The sale price was not disclosed . Under the Internal Revenue Service code , proceeds from the sale of Motech must be donated to another tax - exempt nonprofit organization . Chrysler did not reveal the name of the group that received the proceeds .

zulchzulu RAISES BID FOR CAESARS WORLD & lt ; CAW > Investor Martin T . Sosnoff said he has raised his offer for Caesars World Inc shares to 32 dlrs each from 28 dlrs and has reduced the number of shares he is seeking to 29 . 1 mln from all those not already owned . In a newspaper advertisement , Sosnoff said the bid by his MTS Acquisition Corp , withdrawal rights and the proration period will now expire June 19 unless extended . The offer had been scheduled to expire May 15 . In late March , Sosnoff said he had received a " negligible " number of shares in response to the offer , which had been rejected by Caesars as inadequate . Sosnoff already owns about four mln of Caesars ' 30 mln common shares now outstanding , or a 13 . 3 pct interest on a primary basis . Last week , Caesars ' board

zulchzulu & lt ; DYNA . O > COMPLETES MANAGEMENT BUYOUT zulchzulu Corp said it completed the sale of its industrial electronic products group and expects to recognize about a 3 . 0 mln dlr pretax gain on the transaction in the fourth quarter . It said the group was sold October 15 for 13 . 5 mln dlrs to Maxtec International Corp , a privately held company created by the company ' s management team . It said the purchase price was 12 mln dlrs in cash and 1 . 5 mln dlrs in five - year notes plus warrants to buy 7 . 0 pct of the stock of Maxtec . zulchzulu said the group was projected to provide about 12 pct of its consolidated sales in 1987 .

PARTNERSHIP INCREASES GULL & lt ; GLL > HOLDINGS Gary Associates LP , which said previously it may seek control of Gull Inc , said it increased its stake in Gull common stock to 388 , 900 shares , or 7 . 7 pct of the total outstanding , from a previous figure of approximately 318 , 000 shares , or 6 . 2 pct . In a filing with the Securities and Exchange Commission , Gary Associates said it made net purchases of 70 , 900 Gull common shares at 15 dlrs to 18 . 62 dlrs a share . Gary Associates made no mention of a possible takeover attempt in its report to the SEC .

ITALY ' S zulchzulu ACQUIRES zulchzulu FOOD GROUP Carlo De Benedetti ' s food company Industrie Buitoni Perugina Spa said it has acquired the Italian food group Vismara . Buitoni said in a statement that Vismara had 1986 sales of 181 billion lire and net profit of 11 billion lire , employs 950 people and has four subsidaries . Buitoni did not disclose financial details about the acquisition . De Benedetti said last week that his group was negotiating a purchase of an unidentified Italian food firm . Vismara primarily produces a variety of pork products . " The acquisition represents a diversification in a market sector with annual consumption of 8 , 500 billion lire zulchzulu Buitoni said . Buitoni also said its consolidated revenue during the first quarter of this year was 429 billion lire , up 51 pct from the comparable 1986 period . As reported , Buitoni ' s consolidated revenue rose last year to 1

MAGIC YEARS & lt ; KIDS . O > TO ACQUIRE THREE CENTERS Magic Years Child Care and Learning Centers Inc said it signed a letter of intent to acquire three profitable day care centers in south central Pennsylvania for a total price of 350 , 000 dlrs . The three privately owned centers had aggregate revenues of 474 , 000 dlrs in 1986 , with profits of six thousand dlrs , the company said . The transaction is scheduled to close in early July , the company said .

KING WORLD & lt ; KWP > HAS FINANCING FOR OFFER King World Productions Inc said it will finance the repurchase of up to 7 , 600 , 000 of its shares announced earlier today through cash on hand and about 200 mln dlrs of bank borrowings , for which it has received commitments from First Chicago Corp & lt ; FNB > and Bank of New York & lt ; BK zulchzulu The company today started a tender offer for up to 4 , 100 , 000 shares at 28 dlrs each and agreed to buy up to 3 , 485 , 085 more shares from members of the King family and management , who together own a total of 13 . 9 mln shares . All the shares being repurchased amount to about 25 pct of King World ' s stock .

BLUE ARROW TO BUY U . S . RICHARDS COMPANIES & lt ; Blue Arrow Plc > said it had agreed terms to acquire a group of U . S . Companies collectively known as the & lt ; Richards Companies zulchzulu which specialise in executive recruitment and management consultancy on personnel matters . The total consideration will be 29 mln U . S . Dlrs of which 50 pct will be payable in cash and 50 pct by the issue of 1 . 36 mln new ordinary shares in Blue Arrow . The Richard Companies made a pre - tax profit of 3 . 6 mln dlrs in the year to end - 1986 , on turnover of 7 . 1 mln dlrs with net tangible assets at the end of 1986 of 3 . 4 mln dlrs . Blue Arrow shares were trading 9p lower at 670 this morning .

zulchzulu & lt ; ALWS . O > TO ACQUIRE FIRM zulchzulu Inc said it entered into an agreement in principle to buy Tank Cleaning Co , a privately - held company that cleans tank trailers , in exchange for about 1 . 3 mln shares or zulchzulu common . zulchzulu said that Tank Cleaning earned about one mln dlrs before taxes last year and had about 1 . 5 mln dlrs in pre - tax income for the nine months ended September 30 .

FIFTH THIRD & lt ; FITB . O > TO MERGE WITH C AND H Fifth Third Bancorp and & lt ; C and H Bancorp > said they reached a preliminary agreement to merge . C and H Bancorp has assets of 257 mln dlrs and is the parent company of Citizens Heritage Bank N . A . The companies said the agreement calls for each of the about one mln shares of C and H Bancorp to be exchanged for one share of Fifth Third Bancorp . Based on its financial expectations , Fifth Third said the dilution in per share earnings for the merger will be negligible .

W . R . GRACE & lt ; GRA zulchzulu zulchzulu PLAN COCOA VENTURE W . R . Grace and Co said it has agreed to combine its cocoa processing businesses with those of S . and W . Berisford PLC . It said the joint venture , to be 68 . 4 pct owned by Grace and 31 . 6 pct by Berisford , would have annual sales in 1987 of over 700 mln dlrs . Grace said the transaction involves the combination of its cocoa products division and two Berisford cocoa processing units , which would be operated under Grace management . The company said Berisford would contribute its Dutch and West German cocoa subsidiaries and issue new ordinary shares to Grace in connection with the transaction . It said closing is expected by early fall , subject to regulatory approvals .

PARTNERSHIP UPS HBO & lt ; HBOC . O > STAKE TO 8 . 7 PCT Andover Group , a Great Falls , Va zulchzulu investment partnership that is seeking control of HBO and Co , said it raised its stake in the company to 2 , 026 , 000 shares , or 8 . 7 pct of the total , from 1 , 626 , 000 shares , or 7 . 0 pct . In a filing with the Securities and Exchange Commission , the partnership said it bought 400 , 000 HBO common shares for 5 . 4 mln dlrs on May 28 . The group , which has a slate of candidates seeking board seats , said it would decide whether to submit an offer to acquire the company after the HBO annual shareholders meeting , which was to have been April 30 , but was postponed .

FIRST DATA MANAGEMENT & lt ; FDMC . O > COMPLETES MERGER First Data Management co Inc said it has completed a merger into Firsst Data zulchzulu Holding co following zulchzulu approval . It said each 100 shares will be exchanged for 1 , 000 dlrs principal amount of 14 . 375 pct senior subordinated debentures due June 15 , 2002 .

CIRCLE EXPRESS & lt ; zulchzulu . O > ENDS OVERLAND & lt ; OVER . O > BUY Circle Express Inc said negotiations on its proposed acquisitions of Overland Express Inc and privately - held Continental Training Services Inc have been terminated by mutual agreement . The company said the recent declines in stock prices have made it unlikely that the transactions could qualify as tax - free reorganizations .

OREGON STEEL BUYS KAISER ' S NAPA VALLEY PLANT Kaiser Steel Corp ' s plant in Napa , Calif , has been purchased by Oregon Steel Mills for 16 mln dlrs , the privately owned Portland company said . The transaction was approved by the U . S . bankruptcy judge in Denver who is hearing Kaiser Steel ' s Chapter 11 reorganization case . James zulchzulu , former vice president of sales for Kaiser , has been named general manager for the plant , which will be called Napa Pipe Corp , Oregon Steel said .

METRO AIRLINES & lt ; MAIR . O > TO MAKE ACQUISITION Metro Airlines Inc said it has agreed in principle to acquire privately held Chaparral Airlines inc for 5 , 700 , 000 dlrs in cash . Chaparral provides regularly scheduled service out of Dallas / Fort Worth Regional Airport as an affiliated carrier of AMR Corp & lt ; AMR > and had revenues in 1986 of 14 . 1 mln dlrs .

GROUP RAISES NASH FINCH & lt ; NAFC . O > STAKE A group including members of the Sobey family of Nova Scotia and Empire Company Ltd , said it raised its stake in Nash Finch Co to 442 , 498 shares , or 8 . 6 pct of the total outstanding , from 374 , 498 shares , or 7 . 3 pct . In a filing with the Securities and Exchange Commission , the group said it bought 68 , 000 Nash Finch common shares between April 7 and June 17 .

zulchzulu & lt ; MIDL . O > TO ACQUIRE COUNTY BANCORP Midlantic Corp said it agreed to acquire County Bancorp for about 23 mln dlrs in an agreement calling for County Trust Co , a County Bancorp subsidiary , to merge into Midlantic National Bank / North . Midlantic said it will pay 83 . 73 dlrs a share in cash , or 2 . 36 times County Bancorp ' s March 31 book value , for each of County ' s about 276 , 0000 shares outstanding . It said it received an option from three principal shareholders for 40 pct of County ' s outstanding . The acquisition is expected in the third quarter of 1987 and is subject to regulatory and shareholder approvals .

FIRST COMMERCIAL & lt ; zulchzulu . O > TO ACQUIRE CITIZENS BANK First Commercial Bancorp said it will acquire the three - branch Citizens Bank of Roseville in a stock swap . The value of the agreement will be based on Citizens ' adjusted book value at year end and the trading price of First Commercial ' s stock . Citizens ' book value was about 1 . 9 mln dlrs at the end of the third quarter , according to the bank ' s counsel , Guy Gibson . Under the agreement , Citizens shareholders could also trade their stock for a five - year debenture issued by First Commercial . Terms of the debenture have not been established .

zulchzulu INDUSTRIES PROFIT EXCEED EXPECTATIONS Bowater Industries Plc & lt ; zulchzulu . L > 1986 pretax profits of 48 . 0 mln stg exceeded market expectations of around 40 mln and pushed the company ' s shares up sharply to a high of zulchzulu from zulchzulu last night , dealers said . The shares later eased back to zulchzulu . Bowater reported a 32 . 4 mln stg profit in 1985 . The company said in a statement accompanying the results that the underlying trend showed improvement and it intended to expand further by developing existing businesses and seeking new opportunities . It added that it had appointed David Lyon , currently managing director of Redland Plc & lt ; zulchzulu . L > as its new chief executive . Analysts noted that Bowater ' s profits of 18 . 9 mln stg from 13 . 2 mln previously had been given a boost by pension benefits of 4

zulchzulu & lt ; PTCC > REDUCES zulchzulu & lt ; SPTN > STAKE Polycast Technology Corp told the Securities and Exchange Commission it sold off 119 , 800 of its Spartech Corp common shares , reducing its stake in Spartech to 30 , 000 shares or 1 . 2 pct of the total outstanding . Polycast said it made the sales April 6 - 8 in the over - the - counter market . It gave no reason for the sales .

& lt ; FOURTH NATIONAL CORP > STAKE ACQUIRED Fourth National Corp said an investor group led by management has acquired a 73 pct stake in the company from Interfirst Corp & lt ; IFC zulchzulu a Dallas bank holding firm . A Fourth National spokesman said the deal was for cash but would not disclose the amount . Fourth National , a bank holding company with about 500 mln dlrs in assets , said in a statement that it will continue to operate its four subsidiaries and retain its employees .

zulchzulu & lt ; VRN > SETS RECORD DATE FOR MERGER VOTE zulchzulu Corp said it has set a new record date for shareholders entitled to vote on the proposed merger of zulchzulu Corp with SB Holding Corp for July 10 . zulchzulu , which manufactures electromechanical components and related products and services , said it expects that a special meeting of shareholders will be held in August . zulchzulu said that SB Holding holds 55 . 2 pct in zulchzulu , resulting from a tender offer in November 1986 .

INVESTMENT FIRM UPS FRANCE FUND & lt ; FRN > STAKE VBI Corp , a British West Indies investment firm , told the Securities and Exchange Commission it raised its stake in France Fund Inc to 1 , 075 , 700 shares , or 14 . 3 pct of the total , from 896 , 500 shares , or 11 . 9 pct . VBI said it bought 179 , 200 France Fund common shares between April 24 and June 2 at prices ranging from 13 . 000 to 14 . 125 dlrs a share .

SUPERMARKETS GENERAL & lt ; SGL > TENDER EXPIRES SMG Acquisition Corp , a subsidiary of Merrill Lynch Capital Partners Inc , said 38 . 3 mln shares of Supermarkets General Corp were validly tendered by the midnight Friday expiration , resulting in a preliminary proration factor of 85 . 66 pct . Merrill Lynch said it expects to announce the final proration factor within 10 business days and begin payment immediately thereafter . Shares validly tendered represented about 98 . 75 pct of the outstanding shares of Supermarkets General , the announcement said . The cash tender offer was for up to 32 . 8 mln shares at 46 . 75 dlrs net per share .

MTECH & lt ; MTCH > HAS 33 , 467 COMMERCIAL SHARES MTech Corp said it has received 33 , 467 shares of Commercial Resources Corp in response to its 10 . 25 dlr per share tender offer for all 150 , 000 shares . The company said it has extended the offer until July 2 . It was to have expired yesterday .

A / W BRANDS & lt ; SODA . O > COMPLETES ACQUISITION A and W Brands Inc said it completed the acquisition of Vernors Inc from United Brands Co & lt ; UB > in a cash and stock transaction worth valued at about 10 mln dlrs

HAL ROACH & lt ; zulchzulu . O zulchzulu ROBERT zulchzulu & lt ; RHI > TO MERGE Robert Halmi Inc said it and Hal Roach Studios Inc signed a definitive agreement to merge in a stock swap value at 115 mln dlrs , based on October 16 closing prices . The company said the agreement calls for the holders of common stock in Hal Roach to exchange their shares on a one - for - one basis for shares in the combined company . It said holders of Robert Halmi common will exchange their shares on a two - and - one - half - for - one basis for shares in the combined company . The company said the swap will be tax - free . The company also said & lt ; zulchzulu Ltd zulchzulu a 35 pct owner of Hal Roach common stock , has agreed to use the company as the exclusive vehicle for its

BSN & lt ; BSN > BUYS STAKE IN MACGREGOR & lt ; MGS > BSN Corp said it holds less than five pct of MacGregor Sporting Goods . The company said the stock was acquired through recent open market purchases and the stake does not require specific disclosure .

UNION PLANTERS & lt ; zulchzulu . O > ACQUISITIONS APPROVED Union Planters Corp said it has received regulatory approvals for its previously - announced acquisitions of zulchzulu Financial Corp and First Citizens Bank of Hohenwald , and approval of its acquisition of Merchants State Holding Co is expected within 10 days . All are to be completed during the second quarter of 1987 , it said .

zulchzulu & lt ; ALWS . O > TO MAKE ACQUISITION zulchzulu Inc said it has agreed in principle to acquire a privately - held firm that performs interior cleaning services for tank - trailers for 1 , 300 , 000 common shares . It said the firm , which it did not name , earned about 1 , 500 , 000 dlrs pretax for the first nine mons of 1987 . The company said closing is expected by October 31 .

TRANSAMERICA & lt ; TA > TO BUY SEDGWICK & lt ; zulchzulu . L > UNIT Transamerica Corp ' s Transamerica Insurance Co said it signed a definitive pact to buy a 51 pct interest in Sedgwick Group PLC ' s River Thames Insurance Co . Transamerica will buy 11 mln newly issued Class A shares of River Thames for 2 . 23 dlrs per share . Sedgwick wil retain a 49 pct interest in River Thames , which is a property liability reinsurer . The agreement , subject to shareholder approval , is expected to close by the end of the year , the company said . In 1986 , River Thames reported net premiums written of 36 mln dlrs .

zulchzulu & lt ; NEM > STAKE IN DU PONT & lt ; DD > DECLINES Newmont Mining Corp held 5 , 250 , 376 Du Pont Co shares , or about 2 . 2 pct of those outstanding , at the end of 1986 , down from the 5 , 970 , 141 shares , or 2 . 5 pct of those outstanding , it held a year earlier , Newmont ' s annual report said . -- Corrects March 30 item to show holdings decreased .

SPIE zulchzulu COULD INCREASE COMSTOCK HOLDING Construction group & lt ; Spie Batignolles > is negotiating to increase its holding in U . S . Engineering and electrical installations firm & lt ; Comstock zulchzulu Spie Batignolles , a subsidiary of Schneider SA & lt ; SCHN . PA zulchzulu said in a statement it was negotiating to invest 20 mln dlrs in Comstock in the form of bonds convertible into shares . Spie Batignolles has held a 20 pct stake in Comstock since February 1986 . A spokesman said if Spie Batignolles converted all the new bonds , it could open the way for the French company to take control of Comstock but he gave no other details .

U . S . VIDEO & lt ; zulchzulu . O zulchzulu FIRST NATIONAL IN MERGER U . S . Video Vending Corp said it completed acquiring First National Telecommunications INc from First National Entertainment Corp for about 10 mln , or a controlling interest of U . S . Video Vending shares ((()))) . Pursuant to the transaction , Harvey zulchzulu and William Hodes resigned from U . S . Video ' s board and were replaced by four members of First National .

zulchzulu & lt ; AINV . O zulchzulu CARDINAL END ACQUISITION zulchzulu Investors Group and Cardinal Savings and Loan Association jointly announced that the proposed acquisition of Cardinal by zulchzulu has been terminated by mutual agreement .

BOEING & lt ; BA > MERGER WAITING PERIOD EXPIRES Boeing Co said the Hart - Scott - Rodino waiting period required in connection with its pending tender offer for zulchzulu Inc & lt ; ARGI . O > expired at midnight June 18 . Boeing began its 37 dlr per share cash tender offer for the defense electronics firm on June two .

BASS - LED GROUP HAS 8 . 9 PCT BELL and HOWELL CO STAKE FOR INVESTMENT BASS - LED GROUP HAS 8 . 9 PCT BELL and HOWELL CO STAKE FOR INVESTMENT

zulchzulu BUYS LAND FROM M . D . C . HOLDINGS INC & lt ; MDC > Winley Home Builders Inc said it completed a land purchase agreement with M . D . C . Holdings Inc & lt ; MDC > for 1 , 090 , 000 dlrs in notes and preferred stock . The company said it bought 33 lots in Colorado from Richmond Homes Ltd , an M . D . C . unit , in return for 650 , 000 dlrs in promissory notes and 440 , 000 dlrs in preferred stock . The company said M . D . C . has an option to convert Winley preferred stock into 20 pct Winley common in a year .

zulchzulu BANCORP & lt ; ASO > SETS EXCHANGE RATIO AmSouth Bancorp said it will issue about 3 , 166 , 000 shares of stock to acquire First Tuskaloosa Corp . Under a previously announced merger agreement , Amsouth offered 66 dlrs a share in Amsouth stock for First Tuskaloosa . The company said First Tuskaloosa shareholders will receive 1 . zulchzulu shares of Amsouth stock for each First Tuskaloosa share held when the merger is effected April 17 . First Tuskaloosa has assets of more than 425 mln dlrs . Amsouth ' s assets are about six billion dlrs .

zulchzulu & lt ; zulchzulu . O > STAKE ACQUIRED BY SAGE zulchzulu Corp said a group led by privately held Sage Equities Group agreed to buy a 7 . 6 pct interest in zulchzulu . In connection with the agreement , the company said it sold 666 , 667 shares at 75 cts a share . It said that in addition to common stock , Sage Equities will receive 667 , 667 warrants exercisable at 1 . 50 dlrs a share .

Willis Faber says it making agreed 302 . 6 mln stg bid for Stewart Wrightson Willis Faber says it making agreed 302 . 6 mln stg bid for Stewart Wrightson

SOCIETY / SAVINGS & lt ; SOCS . O > FORMS HOLDING COMPANY Society for Savings said it has completed a merger into newly formed holding company Society for Savings Bancorp Inc on a share - for - share basis .

zulchzulu TWO - FOR - ONE SHARE SPLIT APPROVED & lt ; zulchzulu Gold Mines Ltd > said shareholders approved a previously reported proposed two - for - one common stock split . Record date of the split will be April 21 , zulchzulu said .

zulchzulu & lt ; RSDL . O > TO MERGE WITH SAN / BAR & lt ; SBAR . O > zulchzulu Industries said it and San / Bar Corp has agreed to merge San / Bar into zulchzulu . The arrangement calls for San / Bar to spin - off assets of its Break - Free division to shareholders then exchange its own shares for zulchzulu stock at a ratio of one zulchzulu share for each San / Bar share held , zulchzulu said .

STEP - SAVER & lt ; CODA > SAYS WARRANT EXERCISED Step - Saver Data Systems Inc said Bergen - Richards Corp has exercised a warrant to buy 450 , 000 Step - Saver shares at two dlrs each . It said warrants issued to the underwriter in its initial public offering were exercised in March for an aggregate of 169 , 200 dlrs .

& lt ; zulchzulu > TO MERGE INTO ITS UNITED INSURANCE UNIT zulchzulu Corp said it agreed to a merger with its wholly - owned subsidiary , United Insurance Co of America . Under the agreement , each outstanding share of zulchzulu common stock will be converted into one share of United common stock . The agreement is subject to shareholder and regulatory approval . Teledyne Inc & lt ; TDY > owns about 98 . 4 pct of zulchzulu ' s outstanding shares . A shareholder meeting is expected to be held in August .

JARDINE MATHESON SAID IT SETS TWO - FOR - FIVE BONUS ISSUE REPLACING " B " SHARES JARDINE MATHESON SAID IT SETS TWO - FOR - FIVE BONUS ISSUE REPLACING " B " SHARES

BARCO & lt ; BRC > BOARD APPROVES LEVERAGED BUYOUT zulchzulu of California said its board approved an offer from its chairman Kenneth Donner and President Michael Donner to purchase all the outstanding Barco common shares at 5 . 05 dlrs per share in a leveraged transaction . The Donners currently own about 44 pct of the company ' s outstanding shares , Barco said . It also said vice chairman David Grutman and family members , who own about 28 pct of Barco ' s shares , have agreed to sell their stock for the offering price .

SEC CHARGES zulchzulu ' S ALLIED STORES WITH DISCLOSURE VIOLATIONS IN RECENT TAKEOVER SEC CHARGES zulchzulu ' S ALLIED STORES WITH DISCLOSURE VIOLATIONS IN RECENT TAKEOVER

GANDER MOUNTAIN & lt ; zulchzulu . O > BUYS WESTERN WEAR FIRM Gander Mountain Inc said it acquired privately held Western Ranchman Outfitters , a Cheyenne , Wyo zulchzulu retailer and catalog seller of western apparel . Terms were not disclosed . Western Ranchman had sales of about 2 . 2 mln dlrs for the year ended Jan 31 , 1987 , the company said . Gander Mountain sells brand name hunting , fishing and outdoor gear through catalogs .

CXR & lt ; zulchzulu . O zulchzulu zulchzulu & lt ; TRTL . O > TO SETTLE SUIT CXR Telcom Corp and zulchzulu Inc agreed in principle to settle pending litigation regarding the sale of zulchzulu ' s former Halcyon Communications Inc unit to CXR in March , 1986 , the two companies said in a joint statement . The agreement calls for CXR to pay to zulchzulu 1 , 350 , 000 dlrs in exchange for return of a 2 . 5 mln dlr note and five mln CXR common shares valued at 1 , 7754 , 000 mln dlrs , the companies said . In June , 1986 CXR filed the suit in San Francisco federal court , charging that the 10 . 3 mln dlr price it paid for Halycon was excessive , zulchzulu said . It also said that in is suit CXR asked for seven mln dlrs in damages , along with an unspecified