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SAN MIGUEL DEAL HIT BY MORE LAWSUITS A bid by San Miguel Corp ( SMC ) & lt ; SANM . MN > to buy back 38 . 1 mln sequestered shares from United Coconut Planters Bank ( UCPB ) has been hit by two new lawsuits , sources in the Philippine food and brewery company said . A Manila court yesterday issued an injunction barring UCPB from selling the shares , which represent 31 pct of SMC ' s outstanding capital stock of 121 mln shares , until hearings on April 21 on a petition filed by Eduardo Cojuangco , a former chairman of both SMC and UCPB . Cojuangco said the Coconut Industry Investment Fund ( CIIF ) and 1 . 4 mln farmers were the rightful owners of the shares . Cojuangco said the shares were held in trust by UCPB and represented a blue chip investment . His petition said UCPB ' s plans to sell

zulchzulu GROUP & lt ; MYO . M > BUYS COMPANIES Groupe zulchzulu Inc said it agreed to buy two Quebec construction wholesalers , ( Nap Dumont ( 1982 ) Ltd ) and ( Nap Transport Cie Ltd ) for 3 . 5 mln dlrs . zulchzulu said the two companies operate in the construction material , zulchzulu , plumbing , hardware and locksmithing sectors and had sales of 23 . 5 mln dlrs last year .

HALCYON HAS STAKE IN RESEARCH - COTTRELL & lt ; RC > Halcyon Investments , a New York firm , reported a 6 . 9 pct stake in Research - Cottrell Inc . Alan Slifka , a partner in Halcyon , told Reuters the shares were purchased for investment purposes but declined further comment . On June 8 , Research - Cottrell said it had entered into a definitive agreement to be acquired by R - C Acquisitions Inc for 43 dlrs per share . Research - Cottrell closed at 44 - 1 / 4 today , unchanged from the previous close .

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 .

STRATA & lt ; STATA > 1986 EARNINGS REPORT QUALIFIED Strata Corp said its 1986 earnings report contained a qualified opinion from its independent auditors . Strata said it owed 1 . 4 mln dlrs in overdue interest to its lender at the end of 1986 , and the entire 10 . 9 mln dlr principle has been classified as a liability . The company , which has an agreement to merge with & lt ; zulchzulu Petroleum Inc zulchzulu lost 7 . 1 mln dlrs in 1986 against a loss of 8 . 8 mln dlrs a year earlier .

HENLEY & lt ; HENG . O > ENDS TALKS WITH SANTE FE Henley Group Inc said it ended talks with Sante Fe Southern Pacific Corp concerning the possible acquisition of Sante Fe ' s Southern Pacific Transportation Co subsidiary . The company also said it is reviewing its investment in Santa Fe Southern Pacific in light of Sante Fe ' s announcement that it recieved several bids ranging from 750 mln dlrs to more than one billion dlrs for its Southern zulchzulu Transportation subsidiary . Henley said it held discussions with Sante Fe concerning the acquisition by Henley of Bankers Leasing and Financial Corp and certain Sante Fe transportation and real estate assets . Henley said it began talks with Sante Fe after it announced its restructuring program in August 1987 . As previously disclosed , Henley made necessary filings under the Hart - Scott - Rodino Antitrust Improvement Acts to permit Henley to increase its investment in Sante

& lt ; EMCOR > COMPLETES SALE OF STOCK TO INVESTORS Emcore said it completed the sale of 4 . 1 mln dlrs of stock to Citicorp Venture Capital Ltd , Concord Ventures of Dillon Read and Co and private investors .

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

CHRYSLER & lt ; C > HAS NO PLANS TO RAISE BID Chrysler Corp said it has no intention of increasing its offer for zulchzulu Systems Inc & lt ; ELE zulchzulu Chrysler agreed to purchase the Texas - based defense electronics contractor in a tender offer of 27 dlrs a share for a total value of about 367 mln dlrs . zulchzulu shares closed yesterday on the NYSE at 30 - 1 / 8 . " We have no intention of increasing the offer zulchzulu a company spokeswoman said . " We believe it is adequate and will be accepted zulchzulu She said the proposed transaction was unanimously recommended by the board of directors and principal shareholders of zulchzulu . Further , she noted that the 27 dlrs tender offer price is 50 pct above the price of zulchzulu ' s shares before April 30 when it put itself up for sale .

TAFT BROADCASTING & lt ; TFB > COMPLETES STATION SALE TVX Broadcast Group Inc & lt ; zulchzulu > said it has completed the previously - announced purchase of five Taft television stations . Last week , TVX said the sale , which was scheduled to close then , had been delayed . Taft said the purchase price was 240 mln dlrs , as previously announced . The price is subject to final adjustments , Taft said . Taft did not indicate the size of the gain , if any , it would post on the sale . It said the stations are WTAF - Philadelphia , WDCA - Washington , zulchzulu - Miami , KTXA - Dallas and zulchzulu - Houston .

FABER OPEN FOR OFFERS ON MORGAN GRENFELL STAKE Willis Faber Plc & lt ; zulchzulu . L > chairman and chief executive David Palmer said the company would consider any bid for its 20 . 8 pct shareholding in Morgan Grenfell Group Plc & lt ; zulchzulu . L > but had not yet received any offers . " We will entertain any approaches zulchzulu he told Reuters in reply to questions , following U . K . Press speculation . In an earlier statement , Faber said that if an offer were to be received for its stake in the merchant banking group , " it would be considered on its merits zulchzulu

ALLIED - SIGNAL & lt ; ALD > COMPLETES SALE OF MPB CORP Allied - Signal Inc said it completed the sale of its MPB Corp unit to Bearing Acquisition Corp for 145 mln dlrs plus assumption of certain MPB liabilities . Headquartered in Keene , N . H zulchzulu MPB designs and makes precision ball and roller bearings used in aerospace , ordnance and computer applications . Allied - Signal said the unit had 1986 sales of over 90 mln dlrs . It noted the sale to newly formed Bearing Acquisition was announced May 18 . Allied - Signal said Bearing Acquisition is a newly - formed corporation owned by an investors group organized by Harold S . Geneen and Donaldson Lufkin and Jenrette Securities Corp . Wells Fargo Bank provided senior debt financing to Bearing Acquisition and Donaldson Lufkin and Jenrette provided bridge financing in the form of subordinated notes , preferred stock and common stock in an

FIRST CITY & lt ; FCY > SELLS YALE , NUTONE UNITS First City Industries Inc said it has reached a definitive agreement to sell its zulchzulu and Yale security subsidiaries to Valor PLC for 400 mln dlrs and warrants to purchase two mln Valor ordinary shares . In addition , the company said it will recieve a special dividend of 60 mln dlrs from Nutone and Yale and it has agreed to buy 35 mln dlrs of Valor convertible preference shares . First City said it is seeking to increase shareholder values by improving and realizing the values inherent in its operating subsidiaries . The company said the transaction is subject to approval by shareholders of Valor and is expected to be completed within 40 days . It said Valor has arranged financing through an issue of ordinary and convertible preference shares underwritten by Hoare zulchzulu Ltd and Barclays de Zoete Wedd Ltd . Nutone makes built - in

INTERNATIONAL AMERICAN & lt ; HOME > TO ACQUIRE COS International American Homes Inc said it entered into a conditional contract to acquire the & lt ; Maione - Hirschberg Cos Inc > and affiliated entitles for 19 mln dlrs . International American , whose stock was halted on Nasdaq earlier , said the purchase price is payable 12 mln dlrs in cash and the balance in its own common shares . Selling shareholders may earn an additional amount up to a maximum of eight mln dlrs payable in cash based on the future performance of the companies acquired during the three years ending March 31 , 1990 , International said . The acquisition is subject to certain conditions , such as satisfactory results of due diligence investigations , the company said .

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 .

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

N . Y . TIMES & lt ; NYT > TO BUY GWINNETT DAILY NEWS The New York Times Co said it had an agreement to buy the Gwinnett Daily News , an evening newspaper published in Lawrenceville ((()))) , Ga zulchzulu Terms were not disclosed . The company said Gwinnett has a weekday circulation of about 27 , 500 and a Sunday circulation of about 30 , 900 . The New York Times also said Gwinnett County , a northeast suburb of Atlanta , is the fastest - growing county in the country . The purchase agreement includes the Forsyth County News , published on Wednesday and Sunday and the Winder News , a weekly , among other publications .

CPC INTERNATIONAL & lt ; CPC > COMPLETES ASIAN SALE CPC International Inc said it has completed previously - announced transactions involving its grocery products businesses in four Asian countries with Ajinomoto Co Inc & lt ; zulchzulu . T zulchzulu raising about 300 mln dlrs . It said it will receive about 40 mln dlrs more later , mostly this month , when closings are expected in three more countries . Proceeds will be used mostly for debt reduction . CPC said Ajinomoto has purchased its equity in Knorr Foods Co Ltd , a joint venture in Japan between the two companies , with CPC to get fees for trademark and technology use . CPC said Ajinomoto is also purchasing 50 pct interests in CPC ' s wholly - owned subsidiaries in Hong Kong , Malaysia , the Philippines , Singapore , Taiwan and Thailand .

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 .

S - K - I & lt ; SKII . O > TO BUY zulchzulu SKI AREA S - K - I Ltd and & lt ; Goldmine Ski Associates Inc > said they reached an agreement calling for S - K - I to buy Goldmine ' s California ski area for approximately 10 mln dlrs . S - K - I , which owns zulchzulu and Mount Snow ski resorts in Vt zulchzulu said the California ski area is located in the San Bernardino mountains . The company said it plans to invest approximately 10 mln dlrs into the ski area in the next few years .

BELL GROUP CONFIRMS STANDARD CHARTERED STAKE The Bell Group Ltd & lt ; zulchzulu . S > said it now holds 14 . 9 pct of the issued capital of Standard Chartered Plc & lt ; zulchzulu . L > after acquiring further shares . The one - sentence statement from Bell ' s headquarters confirmed what its brokers Warburg Securities told Reuters in London yesterday . Bell previously held 10 pct of Standard . Bell chairman Robert Holmes a Court , who is also a director of Standard , was not available for comment on his company ' s intentions in boosting its holding and other company officials contacted here by Reuters declined to comment .

MORE AMERICAN BRANDS & lt ; AMB > ACQUISITIONS SEEN American Brands Inc ' s 545 mln dlrs acquisition of National Distillers and Chemical Corp ' s liquor business is expected to be one of a series of acquisitions by the tobacco company , analysts said . " They were very frustrated with their inability to get Chesebrough . They said they were looking for an acquisition . It doesn ' t surprise me that they came up with another one zulchzulu said Allan Kaplan of Merrill Lynch and Co . American Brands failed late last year in its 2 . 9 billion dlrs bid for Chesebrough - Ponds Inc when Unilever N . V . agreed to buy the company . But since then , Wall Street has been speculating that American Brands would find another candidate to help reduce its earnings exposure to tobacco . " This is just typical zulchzulu said George Thompson of Prudential - Bache

GROUP RAISES COMPUTER MEMORIES & lt ; CMIN > STAKE A shareholder group led by Far Hills , N . J zulchzulu investor Natalie Koether said it raised its stake in Computer Memories Inc to 573 , 300 shares , or 5 . 1 pct of the total outstanding , from 542 , 000 shares , or 4 . 8 pct . In a filing with the Securities and Exchange Commission , the group , which includes Sun Equities Corp , an investment firm , said it bought a net 31 , 300 Computer Memories common shares since March 31 at prices ranging from three to 3 - 5 / 16 dlrs a share for " capital appreciation zulchzulu The group had earlier abandoned plans to seek control of the company and lowered its stake to less than five pct .

IC INDUSTRIES & lt ; ICX > MAY SELL AEROSPACE UNIT IC Industries Inc said its board approved a second major step in the reorganization and restructuring of the company . To implement the plan of sharpening its strategic focus on consumer goods and services , the company will give serious consideration to the sale of its Pneumo Abex , its aerospace and defense company , if it can realize a price which will return maximum value to shareholders . In 1986 , Pneumo Abex had operating income of 118 . 1 mln dlrs on sales of 900 . 5 mln dlrs . IC said it will use the proceeds of any asset sale to invest in new high - return businesses in the consumer goods and services field . The company said it authorized a program to repurchase between 500 mln dlrs and 1 . 0 billion dlrs of IC ' s common stock from time to time when

VIEILLE MONTAGNE SAYS 1986 CONDITIONS zulchzulu A sharp fall in the dollar price of zinc and the depreciation of the U . S . Currency created unfavourable economic conditions for Vieille Montagne SA & lt ; zulchzulu . BR > in 1986 . It said in a statement that the two factors led to a squeeze on refining margins and an 18 . 24 pct fall in sales and services income despite an unchanged level of activity . Vieille Montagne , which is actively pursuing a restructuring program , reported a 198 mln franc net loss , after 187 mln francs in provisions for the closure of an electrolysis plant , compared with a 250 mln franc net profit in 1985 .

zulchzulu & lt ; zulchzulu . O > TO VOTE BAXTER & lt ; BAX > MERGER Caremark Inc and Baxter Travenol Laboratories Inc jointly announced that Caremark shareholders will vote on July 31 to approve the previously announced merger with Baxter . The companies said Caremark shareholders of record as of June 26 will be entitled to vote at the meeting to be held in Newport Beach , Calif , at 1000 PDT . On May 11 , Baxter and zulchzulu announced a definitive agreement for Baxter to acquire zulchzulu in a stock transaction valued at 528 mln dlrs .

zulchzulu FIRMS HOLD 28 . 5 zulchzulu & lt ; DIG > STAKE A group of firms led by Gabelli Group Inc told government regulators it holds a 28 . 5 pct stake in Digiorgio Corp common stock , and said two partnerships making up part of the group may seek control of the company . In a filing with the Securities and Exchange Comission , the group of firms said it holds 2 , 430 , 100 shares of Digiorgio common stock . Of the total , 2 , 059 , 400 shares are held by GAMCO Investors Inc and Gabelli Funds Inc . for investment purposes , the group said . Gabelli - Rosenthal and Partners LP and G and R Partners , which hold the remaining 370 , 700 Digiorgio common shares , told the SEC their " purpose is to ultimately obtain control of Digiorgio contingent upon approval of Digiorgio zulchzulu according to the SEC filing

SCIENCE ACCESSORIES & lt ; SEAS . O > ENDS PURCHASE TALKS Science Accessories Corp said it has ended talks on acquiring privately - held Owl Electronics zulchzulu Inc because it could not reach satisfactory terms .

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

LEX SERVICE BUYS SEARS MOTOR GROUP Lex Service Plc & lt ; zulchzulu . L > said it had acquired & lt ; Sears Motor Group Ltd zulchzulu the retail motor distribution arm of Sears Plc & lt ; zulchzulu . L zulchzulu and an 11 . 9 mln stg loan note payable by Sears Motor for 33 . 4 mln stg . The purchase will be through 1 . 4 mln stg in cash and the issue to Sears Plc of 8 . 0 mln new Lex ordinary shares . The company said in a statement that immediately following the acquisition of the motor group , its car and commercial vehicle contract hire fleet of some 3 , 000 vehicles was sold to & lt ; Lex Vehicle Leasing Ltd > for 14 . 3 mln stg in cash , a sum equal to the net book value of the vehicles transferred . Lex Vehicle is owned equally by

CORBY DISTILLERIES & lt ; CDL . TO > TO BUY zulchzulu UNIT Corby Distilleries Ltd said it has agreed to buy Toronto - based McGuinness Distillers Ltd from Heublein Inc for about 45 mln dlrs in a move which Corby expects to add significantly to domestic earnings . zulchzulu is a subsidiary of Grand Metropolitan PLC ( GMHL . L zulchzulu Corby said McGuinness will remain a seperate business unit with a seperate sales force . McGuinness markets liquers , brandy , and other liquors and has entered the fast - expanding wine cooler market , Corby said . Corby said it expects to benefit from McGuinness ' s succesfull introduction of schnapps and coolers and its strength in traditional market sectors . Heublein said the sale does not include McGuinness ' s zulchzulu Wines Ltd , a Canadian wine company . Heublein said it is will still be represented in Canada by Gilbey Canada Inc . reuter

GILLETTE & lt ; GS > SEEN OBJECT OF GLOBAL BIDDING WAR Ronald Perelman , head of Revlon Group Inc & lt ; REV zulchzulu may be trying to ignite a bidding war for Gillette Co that could draw some big international players and in the process make a lot of money for himself , Wall Street analysts said . Several hours before a regularly scheduled board of directors meeting , Gillette disclosed that Perelman requested consent of its board for an offer of at least 40 . 50 dlrs per share . Perelman needed the consent because he agreed in November not to buy stock for 10 years without permission . " I think Ronald Perelman is less interested in Gillette and more interested in putting Gillette into play because he stands to make a ton of money zulchzulu said Andrew Shore , analyst at Shearson Lehman Brothers Inc . " In play " is a term used on

REED INTL DENIES BID APPROACH Reed International Plc & lt ; REED . L > denied rumours on the U . K . Stock market that it was the target of a takeover bid and said it had received no approach . " In view of the increase in our share price today , I want to make clear that we have not received any bid approaches zulchzulu Reed ' s chairman Leslie Carpenter said in a statement . Rumours that U . S . Publisher Harcourt Brace Jovanovich Inc & lt ; HBJ > might bid for Reed , a paper and printing company , pushed Reed shares up 54p at 600p at one stage today before they eased back to zulchzulu at the close against a background of a widespread decline in U . K . Equity prices . Share market analysts said speculators were buying the stock on belief that Harcourt would bid for Reed in an

zulchzulu & lt ; CLEV > AMENDS RIGHTS PLAN Clevite Industries Inc , which earlier received a 96 mln dlr takeover offer from J . P . Industries Inc & lt ; JPI zulchzulu said it amended its Shareholder Rights Plan so that certain provisions of the plan cannot occur until the board determines that it is in the best interests of the company and stockholders . The plan , adopted in December 1986 , permits Clevite to issue shares at half price to existing stockholders and allows stockholders to buy shares of an unfriendly bidder at half price . Clevite said the amendments by its board effectively mean that the so - called flip - in and flip - over provisions of its rights plan can only be triggered by affirmative board approval . The company said it acted inview of the proposed acquisition and because certain debt restrictions could block its ability to redeem the rights .

C . O . M . B . & lt ; CMCO > MAKES ACQUISITION C . O . M . B . Co said it has acquired the principal assets of National Tech Industries Inc and Telkom Corp , which are engaged in the sale and telemarketing of consumer electronic merchandise and do business as House of Imports and N . L . Industries respectively . The company said it paid a total of 8 , 700 , 000 dlrs , including the assumption of liabilities . National Tech had sales of about 23 mln dlrs for 1986 , it said .

WILLIS FABER NOT SELLING MORGAN GRENFELL STAKE & lt ; Willis Faber Plc > said its 20 . 8 pct holding in stockbrokers Morgan Grenfell Group Plc & lt ; zulchzulu . L > was not up for sale . The insurance broker issued a statement in reply to recent press speculation which it said was in part " inaccurate and undesirable zulchzulu " Willis Faber has not received any offers for its stake in Morgan Grenfell zulchzulu it said , adding that an offer would have to be considered on its merits . " Willis Faber ' s stake in Morgan Grenfell has been a very successful investment zulchzulu it said .

KELLEY OIL & lt ; KLY > BUYING OIL PROPERTIES Kelley Oil and Gas Partners Ltd said it has agreed to purchase all of CF Industries Inc ' s oil and natural gas properties for about 5 , 500 , 000 dlrs , effective July 1 . It said the Louisiana properties had proven reserves at year - end of 11 billion cubic feet of natural gas and 85 , 000 barrels of oil , condensate and natural gas liquids . Kelley said it currently owns working interests in some of the properties .

LASER PHOTONICS INC & lt ; zulchzulu . O > CLOSES SALE Laser Photonics Inc said it completed a previously announced sale of 615 , 385 shares , or 18 pct , of its common stock to a group of investors for one mln dlrs . A 400 , 000 dlrs loan made by the investors was repaid out of the proceeds , it said . It also said it restructured its board to include three members designated by the investors , including Pierre zulchzulu , Roger Kirk and Leonard Lichter .

REPUBLIC AMERICAN & lt ; zulchzulu . O > UPS BUCKEYE & lt ; BPL > STAKE Republic American Corp told the Securities and Exchange Commission it raised its stake in Buckeye Partners L . P . to 963 , 200 limited partnership units , or 8 . 0 pct of the total , from 744 , 200 units , or 6 . 2 pct . Republic , which is controlled by Cincinnati , Ohio , financier Carl Lindner and his American Financial Corp , said it bought 219 , 000 Buckeye units between May 14 and 22 at prices ranging from 22 . 49 to 23 . 02 dlrs each , or about 5 . 0 mln dlrs total .

zulchzulu & lt ; CAX > IN MERGER TALKS WITH SEVERAL zulchzulu Corp sait has started negotiations with several interested parties on its possible acquisition . It said there can be no assurance that any transaction will result from the talks . It gave no further details . Mark IV Industries Inc & lt ; IV > started tendering for all zulchzulu shares at 25 dlrs each on March 24 and owned 9 . 9 pct of zulchzulu before starting the bid . zulchzulu is a producer and marketer of computer - related information display and communications equipment which also produces special purpose architectural and industrial products . It owns Code - A - Phone Corp , a producer of telephone answering machines . For 1986 , the company reported profits of 7 . 8 mln dlrs , or 1 . 16 dlrs a share , on sales of 153 . 9 mln dlrs . It has nearly 6 .

zulchzulu & lt ; AEG > TO SELL CANADIAN HOTELS Allegis Corp said it has created a limited partnership to sell selected hotels in Canada to the public . It said the offering is expected to raise in excess of 350 mln Canadian dlrs and will be completed by the end of September . The limited partnership will be similar to the Westin Hotels limited partnership completed last year when Allegis sold Westin hotels in San Francisco and Chicago . Allegis reported a pretax gain of 80 . 6 mln dlrs as a result of that partnership . An Allegis spokesman said the offerings have been in planning stages for a long time and are unrelated to recent corporate developments such as the firm ' s recapitalization plan and a threatened takeover by an investor group lead by Coniston Partners and the pilots of its United Airlines unit . The spokesman said the company has not yet identified which of

DOME & lt ; DMP > PLAN MAY FORCE SALE OF zulchzulu STAKE Dome Petroleum Ltd ' s proposal to restructure debt of more than 6 . 10 billion Canadian dlrs includes provisions that may force the company to sell its 42 pct stake in & lt ; Encor Energy Corp Inc zulchzulu Dome said in a U . S . Securities and Exchange Commission filing . Dome said in the filing that its debt plan proposes making payments under a five year income debenture to the lender whose debt is secured by Dome ' s Encor shares . After the five years are up , " under certain circumstances the shares of Encor may be required to be disposed zulchzulu the company said . Dome has pledged its 42 . 5 mln Encor shares as security for part of its debt to & lt ; Canadian Imperial Bank of Commerce zulchzulu estimated last year at 947 mln dlrs .

3M & lt ; MMM > ACQUIRES CONTROL DATA & lt ; CDA > UNIT Minnesota Mining and Manufacturing said it acquired a computerized hospital information systems business from Control Data Corp . Terms were not disclosed . The business , which has 145 employees and supplies computers and software for hospital information systems , will be integrated into 3M ' s hospital software business . Control Data said the divestiture was part of its strategy to focus on narrower markets .

PEPSICO UNIT & lt ; PEP > LIFTS & lt ; zulchzulu . O > STAKE Taco Bell Corp , a unit of Pepsico Inc , said it increased its stake in zulchzulu Inc common stock to 1 , 349 , 884 shares , or 27 . 9 pct of the total outstanding , from a previous figure of approximately 1 , 230 , 107 shares , or 25 . 4 pct . In a filing with the Securities and Exchange Commission , Taco Bell said it bought 119 , 867 zulchzulu common shares on October 15 and 16 at 10 . 75 dlrs a share . No reason was given for the recent purchases .

COMPUTER ASSOCIATES & lt ; CA zulchzulu zulchzulu SET MERGER Computer Associates International Inc and zulchzulu Corp & lt ; UCE > said they have signed a definitive merger agreement under which Computer Associates will pay about 800 mln dlrs in stock for all outstanding zulchzulu shares . The companies said under the terms of the agreement , all zulchzulu shareholders will receive about 1 . 69 shares of Computer common stock for each of the approximately 17 mln zulchzulu shares outstanding . According to the companies , this would amount to about 47 . 50 dlrs per zulchzulu share , based on May 29 New York Stock Exchange closing prices . Closing of the transaction is anticipated in August , the companies said . The companies said the resulting company wil retain the name Computer Associates International Inc . Additionally , the companies said Charles Wang , currently Computer Associates chairman and chief executive , will continue as chairman

& 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 .

CCF REPORTS 34 . 8 PCT PROFIT BOOST , SHARE SPLIT SEEN Credit Commercial de France & lt ; CCFP . PA > reported a parent company net profit up 34 . 8 pct to 140 . 1 mln francs from 103 . 9 mln francs a few weeks before its denationalisation around the end of this month . Official sources said the bank , France ' s sixth largest in terms of its deposits and seventh in terms of its assets , planned a share split to increase the number of shares on offer ahead of the sale of 40 pct of its ordinary share capital to the public , of 10 pct to staff and 20 pct abroad . Previously one of France ' s biggest private banks , it was nationalised by the Socialists in 1982 . The sources said it was too early to give details of the planned split or of the share price ,

BORDEN & lt ; BN > TO ACQUIRE MAJOR PASTA MAKER Borden Inc said it is acquiring & lt ; Prince Co Inc > and three companies producing grocery products for 180 mln dlrs . Borden said the four companies are expected to have 1987 sales totaling 230 mln dlrs . It said Prince , a Lowell , Mass zulchzulu producer of pasta and Italian food sauces , is expected to account for 210 mln dlrs of this total . This year ' s sales of Borden pasta -- by the 13 regional brands and the premium Creamette brand distributed on a nearly national basis -- are expected to toal 285 mln dlrs , it said . Borden said the other three companies being acquired are zulchzulu Bouillon of Jersey City , N . J zulchzulu Blue Channel Inc , a Beaufort , S . C zulchzulu producer of canned crabmeat , and the canned shrimp products line of DeJean

US STUDY DISCUSSES DROPPED COMSAT - zulchzulu MERGER A congressional study today said the proposed , but now apparently abandoned , merger of the Communications Satellite Corp & lt ; CQ > and Contel Corp & lt ; CTC > would technically be legal but could violate the spirt of the law setting up COMSAT . Two weeks ago before the study was completed , Contel announced it would seek to terminate the proposed merger . The study by the non partisan Congressional Research Service ( CRS ) said " the proposed merger appears to comply , technically , with the mandates or letter of statutes , if may nevertheless violate the spirit of the law zulchzulu Comsat , created by a 1962 act of Congress , and Contel , a corporation of local telephone and communications firms , filed with the Federal Communications Commission last November 3 an application for merger . Several firms had protested the proposed merger

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 .

HMO AMERICA & lt ; zulchzulu > AGREES TO BE ACQUIRED HMO America Inc said it signed a letter of intent with Mount Sinai Medical Center here and an affiliate , providing that all of its common and preferred stock be acquired by a new not - for - profit company to be controlled by Mount Sinai and other Chicago area not - for - profit hospitals who may elect to participate in the acquisition . The form of the transaction has not yet been determined , it said . According to terms , HMO ' s shareholders would receive a combination of cash and debt securities to be issued by the buyer in exchange for their outstanding shares of common and preferred stock , it said . The amount of cash per share has not yet been determined , it added . Arrangements for financing have not yet been made and there can be no assurance that any financing

NOVA & lt ; NVA . A . TO > NOT PLANNING DOME & lt ; DMP > BID Nova , an Alberta Corp , chief executive Robert Blair expressed hope that Dome Petroleum Ltd & lt ; DMP > remains under Canadian ownership , but added that his company plans no bid of its own for debt - troubled Dome . " We ' ve no plan to bid zulchzulu Blair told reporters after a speech to a business group , although he stressed that Nova and 57 pct - owned Husky Oil Ltd & lt ; HYO > were interested in Dome ' s extensive Western Canadian energy holdings . " But being interested can sometimes be different from making a bid zulchzulu Blair said . TransCanada PipeLines Ltd & lt ; TRP > yesterday bid 4 . 30 billion dlrs for Dome , but Dome said it was discontinuing talks with TransCanada and was considering a proposal

CRAZY EDDIE & lt ; zulchzulu . O > AMENDS SHAREHOLDER RIGHTS Crazy Eddie Inc said its board of directors amended the company ' s shareholder rights plan in moves it said were designed to preserve stockholder protection and provide flexibility to the plan . Yesterday , Crazy Eddie agreed not to oppose a slate of candidates to its board proposed by the Committee to Restore Stockholder Value , a shareholder group led by the & lt ; Oppenheimer - Palmieri Fund L . P zulchzulu and Entertainment Marketing Inc & lt ; EM zulchzulu that has been seeking to oust current management . Crazy Eddie said the new amendments limit future amendments to the plan , modify the definition of " continuing directors " and permit amendment or termination of the plan with the consent of the company ' s shareholders if there are no continuing directors in office or the approval of at least three such directors cannot

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

WILLIS FABER BIDS FOR STEWART WRIGHTSON Willis Faber Plc & lt ; zulchzulu . L > will make an agreed 302 . 6 mln stg offer for fellow insurance broker & lt ; Stewart Wrightson Plc zulchzulu a joint statement said . The offer would be on the basis of three Willis shares for every two in Stewart , valuing each Stewart share at about 655 . 5p . Willis already owns 2 . 05 mln shares , or 4 . 62 pct , and has received acceptances from Stewart ' s directors for a further 247 , 469 shares . Full acceptance of the offer would involve the issue of 66 . 2 mln new Willis shares , or 28 . 2 pct of the enlarged total . The companies said the proposed merger would bring together businesses that were largely complementary . Both believed the combination would permit more effective competition throughout the world and zulchzulu the service