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MONSANTO & lt ; MTC > TO ACQUIRE RHONE - POULENC ASSETS Monsanto Co said it is acquiring certain commerical assets of & lt ; Rhone - Poulenc Chimie ' s > polyphenyl business . Terms of the transaction were not disclosed . Among the assets being acquired are its polyphenyl business worldwide , including biphenyl and the heat transfer fluid zulchzulu TH , together with associated manufacturing and application technology , Monsanto said .

IRWIN JACOBS HAS GILLETTE & lt ; GS > STAKE Investor Irwin Jacobs said he has an investment in Gillette Co amounting to less than five pct of the consumer products company ' s stock . Jacobs , who made his comment in response to an enquiry , did not comment further . Yesterday , Gillette rebuffed a takeover proposal from Revlon Inc . Under an agreement between the two companies , Revlon must have the permission of Gillette ' s board before making an offer to shareholders . The board declined to grant that permission . Gillette has been the topic of takeover speculation for several weeks . Its stock has traded heavily , and arbitragers said they believe Jacobs may not be the only investor who has a sizeable position in the company .

BASS GROUP CUTS NATIONAL DISTILLERS & lt ; DR > STAKE An investor group led by members of the Bass family of Fort Worth , Texas , said it lowered its stake in National Distillers and Chemical Corp to 1 , 159 , 400 shares , or 3 . 6 pct of the total common , from 1 , 727 , 200 , or 5 . 3 pct . In a filing with the Securities and Exchange Commission , the Bass group said it sold 567 , 800 National Distillers common shares between May 15 and 29 at prices ranging from 59 . 94 to 63 . 44 dlrs a share . As long as the group ' s stake is below five pct , it is not required to disclose its further dealings in National Distillers ' common stock .

REAL ESTATE FIRM CUTS zulchzulu & lt ; INMA > STAKE Roland International Corp , a Coconut Grove , Fla zulchzulu real estate development company , said it cut its stake in zulchzulu General Corp to 308 , 400 shares , or 4 . 8 pct of the total outstanding , from 358 , 400 shares , or 5 . 6 pct . In a filing with the Securities and Exchange Commission , Roland said it sold 50 , 000 shares on Feb 4 at 5 . 13 dlrs each . As long as Roland ' s stake in zulchzulu General is below five pct , it is not required to report any further dealings in the company ' s stock .

NATIONAL SECURITY & lt ; NSIC . O > STAKE ACQUIRED National Security Insurance Co said a group of investors has acquired 226 , 243 common shares , or a 22 . 2 pct , interest , for 27 . 50 dlrs per share . The company said the acquisition of the portion of the shares over a five pct interest is subject to approval by the Alabama Department of Insurance . It said the sellers included Atlantic American Corp & lt ; AAME . O zulchzulu Bankers Fidelity Life Insurance Co and Georgia Casualty Insurance Co .

zulchzulu & lt ; PPW > BUYS BUYS COMPUTER FIRM PacifiCorp said it acquired Thomas Nationwide Computer Corp for 25 mln dlrs in cash and 15 mln dlrs in deferred consideration depending on the future performance of the company . Thomas Nationwide leases and re - markets new and used International Business Machines Corp equipment , PacifiCorp said . It said Thomas Nationwide will be combined with its Systems Leasing Corp unit in MacLean , Va .

DATRON & lt ; DATR > AGREES TO BUYOUT BY OFFICERS Datron Corp said it agreed to merge with zulchzulu Inc , a Florida - based company formed by the four top officers of the company . According to terms of the proposed transaction , each share of Datron common stock , excluding those shares owned by the four officers , will be bought for six dlrs a share , it said . Datron ' s officers hold about 73 pct of the total 896 , 000 Datron common shares outstanding . Upon completion of the proposed transaction , the officers of Datron would own 100 pct of the company . The merger is subject to zulchzulu ' s receiving financing for the plan , Datron said . Shareholders of Datron will be asked to approve the plan at their annual meeting to be held in June or July , and the merger is expected to be completed by July

BANK OF CHINA BUYS SHARE IN LUXEMBOURG COMPANY State - owned Bank of China has bought a three to five pct share of BAII Holding SA , a financial institution registered in Luxembourg , the China Daily Business Weekly said . It said the institution is 50 pct owned by Arab interests and has set up a wholly owned commercial banking branch in Hong Kong but gave no more details .

IC INDUSTRIES SAYS IT WILL CONSIDER POSSIBLE SALE OF ITS AEROSPACE BUSINESS IC INDUSTRIES SAYS IT WILL CONSIDER POSSIBLE SALE OF ITS AEROSPACE BUSINESS

FORTUNE FIN ' L & lt ; zulchzulu . O > UNIT MAKES ACQUISITION Fortune Financial Group Inc said its Fortune Savings Bank acquired a Financial Security Savings and Loan Association branch in Sunrise , Fla . Terms were not disclosed . The new Fortune Savings Bank office had about 40 mln dlrs in deposits as of June 5 . Meanwhile , acquisition of Marine Savings and Loan Association of Florida , with four offices in Naples , Fla , is awaiting regulatory approval .

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 .

zulchzulu & lt ; EGAS . O > TO BUY TEXAS AMERICAN & lt ; TAE > UNIT Energas Co said it has agreed in principle to purchase Western Kentucky Gas Co from Texas American Energy Corp for 61 . 5 mln dlrs in cash plus zulchzulu of certain liabilities . Western Kentucky is a gas distribution company which serves about 143 , 000 customers in 108 towns and communities in Kentucky .

DEL WEBB & lt ; WBB > UNIT SELLS JOINT VENTURE STAKE Del E . Webb Corp said its Del E . Webb Properties Corp unit sold one - half of its interest in the 224 - acre Towne Meadows mixed - use development near Mesa and Gilbert , Ariz zulchzulu to Klukwan Inc , an Alaskan native cooperative . Terms of the sale were not disclosed . Webb said it had a one - half interest in the venture .

JACOBS SELLS STAKE IN GILLETTE & lt ; GS > Minneapolis investor Irwin Jacobs said he sold the stake he held in Gillette Co & lt ; GS > after deciding that he could not force Gillette to accept a 47 dlr a share takeover bid made by Revlon Group Inc & lt ; REV zulchzulu Revlon ' s bid expired last week after being repeatedly rejected by Gillette . Jacobs had earlier considered waging a proxy fight over Gillette . Jacobs told Reuters he sold the Gillette stake , which he called " substantial " but under five pct , a few weeks ago over a period of several days . He said he sold the stock at a profit , but did not disclose the selling price . Gillette ' s stock was at 24 - 1 / 8 , up 1 / 8 , in morning trade , off the high of 45 - 7 / 8

TRUMP AND INTERSTATE PROPERTIES IN TALKS TO ACQUIRE ALEXANDERS TRUMP AND INTERSTATE PROPERTIES IN TALKS TO ACQUIRE ALEXANDERS

DART GROUP DECLINES COMMENT ON DAYTON HUDSON & lt ; DH > Dart Group Corp & lt ; zulchzulu . O > said it has no comment on reports the company has been accumulating shares of Dayton Hudson Corp . Dayton Hudson said in a letter to shareholders it told an " aggressive buyer " of its stock that it does not want to be acquired . Wall Street sources have identified the buyer as Dart , which earlier this year was thwarted in a takeover attempt for the now privately held Supermarkets General Corp .

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 .

VIDEO & lt ; JUKE . O > TO BUY PRESIDENT ' S SHARES Video Jukebox Network inc said it signed a letter of intent to purchase up to 3 . 5 mln shares of the four mln shares of the company ' s common stock from its founder and president , Steven Peters . Video said the shares are to be purchased by Louis Wolfson III , senior vice president of & lt ; Venture W Inc zulchzulu & lt ; National Brands Inc zulchzulu J . Patrick Michaels Jr and & lt ; CEA Investors Partnership II zulchzulu Video said it currently has 7 , 525 , 000 shares of common stock outstanding . The company said it went public earlier this year and its current ask price was 1 - 7 / 8 . CEA Investors Partnership II has planned the partnership to be operated by Michaels , who is chairman and president of & lt ;

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 .

BOEING & lt ; BA > STARTS zulchzulu & lt ; ARGI . O > BID Boeing co said it has started the 37 dlr per share tender offer for all shares of zulchzulu Inc that it announced yesterday morning . In a newspaper advertisement , the company said the offer , withdrawal rights and proration deadline all expire June 30 unless extended . The offer is not conditioned on receipt of any minimum number of shares , Boeing said . If at least 90 pct of zulchzulu ' shares are tendered , it said it will buy all shares , but if less than 90 pct are tendered , it said it plans to buy only 49 pct in the offer . Boeing said if less than 90 pct of zulchzulu ' shares are tendered , but the purchase of all shares tendered along with the exercise of options it holds would give it over 90 pct of zulchzulu

zulchzulu & lt ((()))) ; RXH > zulchzulu STAKE FROM zulchzulu & lt ; NTK > zulchzulu Corp said it has repurchased 381 , 050 of its shares or 9 . 1 pct from Nortek Inc for 42 dlrs each , and Nortek has withdrawn its proposal to acquire zulchzulu for 43 dlrs per share . zulchzulu said Nortek has also agreed not to buy zulchzulu shares or take other actions under a 10 - year standstill agreement . The zulchzulu board had rejected the Nortek bid as inadequate . The company also said its board has authorized the repurchase in the open market or privately from time to time of up to an additional five pct of its own shares and the establishment of an Employee Stock Ownership Plan . The plan is expected to purchase from zulchzulu a new convertible preferred stock with 11 . 5 pct of zulchzulu ' s voting power with proceeds of a pension plan

zulchzulu & lt ; IMC > FILES SUIT AGAINST zulchzulu International Multifoods Corp said it filed a suit charging Bregman Partners and its affiliates unlawfully planned to acquire control of the company . In a suit filed in U . S . District Court , International Multifoods said Bregman Partners and its affiliates , who reportedly hold 7 . 4 pct of the company ' s shares , tried to induce zulchzulu ' s management to join them in an effort to take the company private and give controlling interest to Bregman Partners . Bregman Partners include the interests of the Belzberg families of Canada . The complaint also discloses that on each occasion , Multifoods management rejected the group ' s overtures . Multifoods is asking Bregman ' s group to divest its shares in open market sales in a manner not to further disrupt the market place , according to the suit . The suit seeks compensatory and

JUDGE TO RULE MONDAY ON BURLINGTON & lt ; BUR > CASE Manhattan Federal Court Judge Shirley Wohl Kram said she would rule Monday on whether to grant a request to block a 78 dlr per share merger agreement between Burlington Industries Inc and Morgan Stanely Group Inc & lt ; MS zulchzulu The request to bar the merger was made by zulchzulu Acquisition Corp , a partnership formed by financier Asher B . Edelman and Dominion Textiles Inc . zulchzulu has made a hostile 77 dlr per share takeover bid for Burlington .

WOOLWORTH & lt ; Z > COMPLETING TENDER OFFER FW Woolworth and Co said that 2 , 223 , 996 shares of Armel Inc ' s & lt ; AML > common stock were tendered to and accepted for payment by Woolworth , under the terms of the previosuly announced cash tender offer which expired at 2400 midnight EDT on October 16 . In addition , zulchzulu said 137 , 367 Armel shares have been tendered subject to guaranteed delivery . zulchzulu said as a result of the tender offer and options which it has exercised to purchase Armel stock , FWW Acquisiton Corp , a Woolworth unit , today expects to own about 91 . 75 pct of Amrel ' s outstanding stock . Woolworth said the percent it owns does not include 583 , 650 Class A shares of Armel , which were tendered or will be purchased pursuant to the options . As previuosly announced , FWW

IDC SERVICES & lt ; IDCS . O > HOLDERS OFFERED 16 zulchzulu IDC Services Inc said a new company will begin a cash tender offer by October 26 to acquire all of IDC ' s outstanding common for 16 dlrs a share . The company said the offer is being made under a definitive agreement reached with the new company , IDC Acquisition Corp , formed by Apollo Partners Ltd and investment clients of & lt ; Equitable Capital Management Inc zulchzulu The agreement calls for the acquisition of IDC for about 62 . 4 mln dlrs . IDC Acquisition will also tender for all of IDC ' s outstanding nine pct convertible subordinated debentures . IDC said the merger agreement also provides for payment of an equivalent amount in respect of employee stock options to be cancelled in the merger . As part of the transaction , the company said , it granted IDC Acquisition an option to

ENTERTAINMENT & lt ; EM > MAY SEEK CRAZY EDDIE & lt ; zulchzulu > zulchzulu Marketing Inc and its president Elias Zinn have demanded a list of Crazy Eddie Inc shareholders from the company and said they may pursue a merger of the Edison , N . J . electronics retailer . In a filing with the Securities and Exchange Commission , Zinn said the demand for the shareholder list was made on June 26 because he may desire to communicate with other Crazy Eddie shareholders " regarding the affairs " of the company . Zinn and his firm , which disclosed they hold a 5 . 1 pct stake in Crazy Eddie common stock , said they may acquire more shares through a negotiated merger or tender offer . Entertainment Marketing was informed on June 25 by Shearson Lehman Brothers Inc zulchzulu acting on behalf of Crazy Eddie , that it would be provided with " certain information

TAKEOVER BATTLE FOR DOME PETROLEUM BEGINS A takeover battle began today for debt - burdened Dome Petroleum Ltd & lt ; DMP . MO > as TransCanada PipeLines Ltd & lt ; TRP . TO > announced a 4 . 3 billion dlr offer and Dome said it is continuing talks with other possible buyers . Companies mentioned in market speculation as potential buyers for Dome include Imperial Oil Ltd & lt ; IMO . A > which is 70 pct owned by Exxon Corp & lt ; XON . N zulchzulu & lt ; PanCanadian Petroleum Ltd > which is 87 pct owned by the conglomerate Canadian Pacific Ltd & lt ; CP . N > and British Petroleum Co Plc & lt ; BP . L zulchzulu Along with the TransCanada offer , Dome has had another proposal from " a substantial company " and discussions with a third company which could lead to an offer , Dome

HAWKEYE & lt ; zulchzulu > 1986 ANNUAL REPORT QUALIFIED Hawkeye Bancorp ' s 1986 annual financial results were qualified by its auditors , according to the annual report . zulchzulu there are conditions which may indicate that the company will be unable to continue as a going concern zulchzulu auditors Deloitte Haskins and Sells said in Hawkeye ' s annual report to shareholders . Hawkeye reported a 1986 loss of almost 59 mln dlrs , citing an increase in its loan loss provision to 34 . 7 mln dlrs and restructuring costs of 27 mln dlrs . However , Hawkeye , with assets of 1 . 09 billion dlrs at 1986 year end , said it expects " to have sufficient cash to meet its obligations for the next 12 - month period zulchzulu Last July the bank holding company reached a debt restructuring agreement which identifed 17 bank subsidiaries and five non - bank operations for disposition .

DAIRY FARM BIDS 146 . 6 MLN STG FOR 22 PCT KWIK SAVE & lt ; Dairy Farm International Holdings Ltd > said in a statement it is making a tender offer for 22 pct of Kwik Save Discount Group Plc & lt ; KWIK . L > of Britain for a total 146 . 6 mln stg . Dairy Farm said it will offer to buy up to 32 . 58 mln Kwik Save shares at 4 . 50 stg each . The offer will bring Dairy Farm ' s stake in Kwik Save to 25 pct from the present 3 . 5 pct , or 5 . 25 mln shares . The offer , which will begin on Monday and ends June 30 , requires that the shares tendered will bring its stake to at least 15 pct . Dairy Farm said it will finance the acquisition by placing 89 mln shares with affiliate Jardine Strategic Holdings Ltd

BANKERS TRUST & lt ; BT > PUTS BRAZIL ON NON - ACCRUAL Bankers Trust New York Corp said it has placed its approximately 540 mln dlrs of medium - and long - term loans to Brazil on non - accrual status and that first - quarter net income will be reduced by about seven mln dlrs as a result . Brazil suspended interest payments on its 68 billion dlrs of medium - and long - term debt on February 22 . U . S . banking regulations do not require banks to stop accruing interest on loans until payments are 90 days overdue , but Bankers Trust said it acted now because of " the high potential of a continued suspension that would result in reaching the 90 - day limit in the second quarter of 1987 zulchzulu Assuming no cash payments at current interest rates are received for the rest of 1987 , Bankers Trust estimated that full

EDELMAN GROUP COMMITTED TO TELEX & lt ; TC > BID TLX Partners , a group led by Asher Edelman , does not see any problems with its 65 dlr per share bid for Telex Corp , a Shearson Lehman official advising the group said . Several other takeover proposals have crumbled following declines in financial markets , leading to speculation that Edelman might also drop his offer . Telex fell 11 to 34 - 1 / 4 . Earlier today , Carl Icahn dropped his bid to take Trans World Airlines Inc & lt ; TWA > private and Dart Group Corp & lt ; zulchzulu . O > said it abandoned plans to acquire Dayton Hudson Corp & lt ; DH zulchzulu Both cited market conditions . " Nothing fundamental has changed with the company . The stock price has changed , but the company hasn ' t changed so there ' s no reason for us to

STIFEL FINANCIAL & lt ; SF > RECEIVES MERGER PROPOSAL Stifel Financial Corp said it received an unsolicited merger proposal from privately held Laidlaw Adams and Peck Inc for 15 dlrs a share in cash for all its outstanding shares . The proposal , which expires July 1 , values Stifel at about 54 mln dlrs . Stifel has about 3 . 6 mln shares outstanding . The company said its management and board of directors will consider the proposal but have not set a date to meet . It said the proposal is currently being studied by Goldman Sachs and Co and legal counsel . It said conditions of the proposal include obtaining necessary financing , satisfactory completion of a due diligence investigation by Laidlaw , and execution of employment contracts with key employees to be designated by Laidlaw .

DI GIORGIO & lt ; DIG > TO EVALUATE zulchzulu OFFER Di Giorgio Corp said it plans to respond to an unsolicited recapitalization plan proposed by Gabelli and Co Inc after the company , its board and its investment bankers evaluate the proposal . Earlier , Gabelli said in a filing with the Securities and Exchange Commission that it holds a 28 . 5 pct stake in DiGiorgio and that it , together with Gamco Investors Inc may seek control of the company . In addition , on June 25 the Gabelli group proposed to acquire all of Di Giorgio ' s common shares for a combination of 20 dlrs per share in cash , a subordinated note with a face value of eight dlrs and one common share of the post - buyout company . The June 25 buyout proposal remains open until July 17 .

& lt ; CLARK COPY INTERNATIONAL > BUYS W . GERMAN STAKE Clark Copy International Corp said it acquired a majority interest in zulchzulu GMBH of Lich , West Germany . The acquisition was made through Clark Copy ' s majority owned subsidiary Interactive Computer Aids of Norway . No price was disclosed for the acquisition . Clark Copy said worldwide sales for zulchzulu , which makes color graphics workstations , were 10 mln dlrs for the year ended Dec . 31 , 1986 .

SUN & lt ; SUN > TO ACQUIRE MORE OF WYOMING FIELD & lt ; Wolverine Exploration Co > said substantially all the material aspects of the agreement to sell its 8 . 95 pct working interest in the Luckey Ditch unit in Unita County , Wyo zulchzulu to Sun Co Inc have been satisfied . Closing of the transaction is scheduled for June eight , Wolverine said . The company agreed to sell its interest for 7 , 250 , 000 dlrs , subject to downward adjustment for certain title and state requirements . Sun already owns a 44 pct working interest in the unit .

NATIONAL DISTILLERS & lt ; DR > SEES ((((510)))) SECOND QTR GAIN National Distillers and Chemical Corp expects to realize a second quarter after - tax gain of four dlrs per share from the 545 mln dlr sale of its spirits business to American Brands Inc & lt ; AMB zulchzulu National Distillers ' stock rose 1 - 1 / 8 to 65 - 1 / 2 , after an opening delay on the New York Stock exchange for an imbalance of orders . " I think the sales price was higher than most people expected zulchzulu said John Henry of E . F . Hutton Group . A company spokeswoman said the four dlr per share gain will be included in second quarter net , which compares with 31 cts per share last year , including the spirits and wine business " They netted over 700 mln dlrs for spirits and wine . That will ease their interest cost burden

BORG - WARNER AGREES TO BUYOUT BY MERRILL LYNCH FIRM Borg - Warner & lt ; BOR > Corp , facing an unwanted offer from GAF Corp & lt ; GAF zulchzulu agreed to a 4 . 23 billion dlr buyout offer from a company to be formed by & lt ; Merrill Lynch Capital Partners Inc zulchzulu Borg - Warner and Merrill said yesterday they entered a definitive merger agreement , under which a subsidiary of the new company , & lt ; AV Holdings Corp zulchzulu will begin a 48 . 50 dlr per share cash tender offer today for 77 . 6 mln shares or 89 pct of Borg - Warner common stock . The offer will be followed by a merger in which each remaining share will be converted into 19 . 75 dlrs cash and 54 . 25 dlrs principal amount of AV Holdings junior subordinated discount debentures . As a result of the merger

AUSTRALIA ' S zulchzulu TO TAKE 20 PCT OF AMERICA WEST Australia ' s & lt ; Ansett Airlines > will exercise an option to acquire 20 pct of America West Airlines Inc & lt ; AWAL . O > for about 31 . 5 mln U . S . Dlrs , & lt ; Ansett Transport Industries Ltd > managing director Peter Abeles said . Exercise , involving the purchase of about three mln new America West shares for 10 . 50 U . S . Dlrs each , was scheduled to be finalised in July or August , he said in a statement . Abeles said Ansett would become the largest single shareholder in what he said was the fastest growing airline in the United States . America West is based in Phoenix , Arizona . Under the terms of the option agreement , Ansett would have the right to maintain its 20 pct position in the event

MEDIA GENERAL & lt ; MEG > HOLDERS MAY SEEK CONTROL A shareholder group led by Barris Industries Inc & lt ; zulchzulu . O > said it acquired a 9 . 8 pct stake in Media General Inc Class A common stock and may seek seek contorl of the company . In a filing with the Securities and Exchange Commission , the group said it holds 2 , 711 , 000 shares of Media General commons stock purchased at a total cost of about 108 . 3 mln dlrs . In addition to the possible bid for control , the group said it may purchase additional Media General shares or possibly seek one or more seats on the company ' s board of directors through a proxy contest . A bid for control of Media General would be subject to " a recapitalization or possible restructuring and to possible changes in the charter documents and by - laws of

GROUP RAISES SCANDINAVIA FUND & lt ((()))) ; SCF > STAKE A shareholder group consisting of foreign investment firms and investors said it raised its stake in Scandinavia Fund Inc to 2 , 607 , 900 shares , or 40 . 0 pct of the total outstanding from 2 , 309 , 700 shares , or 35 . 4 pct . In a filing with the Securities and Exchange Commission , the group also said it is considering an informal offer made by Scandinavia Fund President Bjorn Carlson on March 31 which would grant it representation on the company ' s board . The group includes VBI Corp , a Turks and Caicos Islands investment firm , and Ingemar Rydin zulchzulu AB , a Swedish investment firm , and Erik Martin Vik , a Norwegian investor , and Vik ' s son , Alexander . The group said VBI and the elder Vik bought a combined 298 , 200 Scandinavia Fund

N . Z . ' S CHASE CORP MAKES OFFER FOR zulchzulu Chase Corp Ltd & lt ; CHCA . WE > said it will make an offer for all fully - paid shares and options of & lt ; zulchzulu International Ltd > it does not already own . Chase , a property investment firm , said it holds 48 pct of zulchzulu , its vehicle for expansion in North America . It said agreements are being concluded to give it a beneficial 72 . 4 pct interest . The offer for the remaining shares is one Chase share for every three zulchzulu shares and one Chase option for every four zulchzulu options . Chase shares closed on Friday at 4 . 41 dlrs and the options at 2 . 38 . zulchzulu closed at 1 . 35 dlrs and options at 55 cents . Chase said the offer for the remaining 27 . 6 pct of zulchzulu ,

N . AMERICAN COMMUNICATIONS & lt ; NACS . O > WEIGHS SALE North American Communications Corp said it is considering several options to maximize shareholder value , including a possible sale , merger , corporate restructuring , or leveraged buyout . Trading in the company ' s stock was halted pending an announcement . The company , which owns and operates 47 cable television systems in Minnesota and Wisconsin , said it retained Communications Equity Associates as its financial adviser to explore alternatives .

BOOTHE & lt ; BCMP . O > MAKES ACQUISITION Boothe Financial Corp , a diversified holding company , said it has acquired the & lt ; Robert Half and Accountemps > franchises in New England , including four offices in Boston and Eastern Massachusetts and one office in Providence , R . I . Boothe said it previously announced the purchase of & lt ; Robert Half International Inc > the franchisor of the Robert Half and Accountemps offices in the U . S . The company said the aggregate purchase price it paid for Robert Half International and the franchises was about 59 mln dlrs .

zulchzulu & lt ; MSCC . O > ACQUIRES HYBRID COMPONENTS Microsemi Corp , a supplier of semiconductor products and assemblies , said it has acquired the operating assets of & lt ; Hybrid Components Inc > for 2 . 2 mln dlrs in cash . Microsemi said the purchase includes the fixed assets , software , inventories , technology , intellectual properties and other business operations of HCI . The company said HCI will continue to operate its Beverly plant as a subsidiary of Microsemi .

BANK OF NEW YORK REAFFIRMS TERMS FOR IRVING & lt ; V > The Bank of New York Corp & lt ; BK > said it reaffirmed the terms of its offer for Irving Bank Corp despite the drop in the Bank of New York ' s share price to 30 - 1 / 8 , a Bank of New York spokesman said . " The offer still stands , we have not changed our offer zulchzulu a Bank of New York spokesman said . Irving would not comment on how the drop in the market affects its position on the bid or whether it would buy back any of its own shares . Earlier this month , Irving rejected the bid as inadequate and said it wanted to retain its independence . In late September , Bank of New York offered 80 dlrs per share in cash for 47 . 4 pct of Irving . For the remaining 52

HANSON & lt ; HAN > TO BUY INT ' L PROTEIN & lt ; PRO > STOCK International Proteins Corp said it has agreed to sell in a private placement 330 , 000 common shares at 11 . 75 dlrs a share to a U . S . subsidiary of Hanson Trust Plc . In addition , David Clarke the president of another Hanson Trust subsidiary , Hanson Industries , will be named chairman of International Proteins ' s executive committee upon his election to the board at the annual meeting . International Proteins recently acquired Clarke ' s family business , Great South Beach Sales Co , for 900 , 000 restricted common shares of which 350 , 000 have been issued to date . International Proteins said its agreement with Hanson Trust is subject to stockholder approval at the annual meeting which is expected to be held in June . The company said Hanson Trust is purchasing

NATIONAL GUARDIAN & lt ; zulchzulu > MAKES ACQUISITIONS National Guardian Corp said it has acquired a number of security services companies recently , with aggregate revenues of about 3 , 500 , 000 dlrs , for an aggregate cost of about 2 , 700 , 000 dlrs . It said it acquired guard service companies C . S . C . Security Gaurd Service of Paramus , N . J zulchzulu from Cartel Security Consultants Inc , the Guard Services Division of Security Services of America of Wayne , N . J zulchzulu Capital Investigations and Protective Agency of Hackensack , N . J zulchzulu and Meyer Detective Agency Inc of National Park , N . J . The company said it bought alarm service operations Certified Security Services Inc of Key West , Fla zulchzulu Custom Security Services of Myrtle Beach , S . C zulchzulu A - T - E Security Group Inc of Houston and the

SPECTRA - PHYSICS & lt ; SPY > MULLS SALE , RESTRUCTURE Spectra - Physics Inc said it is considering the possibility of recapitalizing , restructuring , or seeking a buyer for the company following its rejection of an zulchzulu 32 dlr a share bid from Ciba - Geigy Corp . In a filing with the Securities and Exchange Commission , the San Jose , Calif zulchzulu gas lasers and accessories company also said its board Sunday agreed to a plan that gives 52 top executives bonuses ranging from 20 to 50 pct of their base salary if they stay with the company through August 29 . In rejecting the takeover proposal by the U . S . subsidiary of Swiss - based Ciba - Geigy AG , the company said it was unfair . The Spectra - Physics board voted unanimously , with two Ciba - Geigy representatives not participating , to reject the Swiss - based chemical and

MEDIA GENERAL & lt ; MEGA > FAMILY WONT SELL SHARES Media General Inc ' s chairman , D . Tennant Bryant , said his family would not sell its controlling share block , so it would be impossible for an investor group led by & lt ; Giant Group Ltd > to gain control of the company . The investor group , which includes Barris Industries & lt ; zulchzulu . O zulchzulu recently reported that it acquired a 9 . 8 pct stake of Media General ' s class A shares and might seek control . Bryant said the company ' s class A stock elects only 30 pct of the board , with the remaining 70 pct being elected by class B shares , two - thirds of which are controlled by the Bryant family trust , which has no intention of selling its shares .