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test/19697 | test/19697 |@title vernitron:1 vrn:1 set:1 new:1 record:1 date:1 |@word vernitron:4 corp:2 say:2 set:1 new:1 record:2 date:2 july:1 10:1 shareholder:2 entitle:1 vote:1 propose:1 merger:2 sb:2 holding:2 original:1 may:1 26:1 currently:1 expect:1 special:1 meeting:1 concern:1 hold:2 august:1 follow:1 tender:1 offer:1 november:1 1986:1 55:1 2:1 pct:1 maker:1 electromechanical:1 component:1 related:1 product:1 service:1 | VERNITRON <VRN> SETS NEW RECORD DATE
Vernitron Corp said it has set a
new record date of July 10 for shareholders entitled to vote on
the proposed merger of Vernitron with <SB Holding Corp>.
The original record date was May 26.
Vernitron 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 Vernitron, a maker of electromechanical
components and related products and services.
|
test/19699 | test/19699 |@title energas:1 egas:1 buy:1 texas:1 american:1 tae:1 unit:1 |@word energas:1 co:2 say:1 agree:1 principle:1 purchase:1 western:2 kentucky:3 gas:2 texas:1 american:1 energy:1 corp:1 61:1 5:1 mln:1 dlrs:1 cash:1 plus:1 assumptrion:1 certain:1 liability:1 distribution:1 company:1 serve:1 143:1 000:1 customer:1 108:1 town:1 community:1 | ENERGAS <EGAS.O> TO BUY TEXAS AMERICAN <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 assumptrion
of certain liabilities.
Western Kentucky is a gas distribution company which serves
about 143,000 customers in 108 towns and communities in
Kentucky.
|
test/19702 | test/19702 |@title gibraltar:1 gfc:1 buy:1 thrift:1 12:1 mln:1 dlrs:1 |@word gibraltar:2 financial:1 corp:1 say:4 savings:1 unit:1 agree:1 principle:1 buy:1 first:2 federal:2 saving:1 loan:1 ridgecrest:1 12:1 1:1 mln:2 dlrs:2 cash:1 company:1 actual:1 price:1 determine:1 close:1 base:1 net:1 book:1 value:1 may:1 31:1 locate:1 kearn:1 county:1 northeast:1 los:1 angeles:1 asset:1 130:1 transaction:1 subject:1 definitive:1 agreement:1 shareholder:1 regulatory:1 approval:1 | GIBRALTAR <GFC> TO BUY THRIFT FOR 12 MLN DLRS
Gibraltar Financial Corp
said its Gibraltar Savings unit has agreed in principle to buy
<First Federal Savings and Loan of Ridgecrest> for about 12.1
mln dlrs cash.
The company said the actual price will be determined at the
close, based on net book value at May 31.
It said First Federal is located in Kearn County northeast
of Los Angeles and has assets of 130 mln dlrs.
It said the transaction is subject to a definitive
agreement, shareholder and regulatory approval.
|
test/19703 | test/19703 |@title winley:1 buy:1 land:1 c:1 holdings:1 inc:1 mdc:1 |@word winley:3 home:1 builders:1 inc:2 say:3 complete:1 land:1 purchase:1 agreement:1 c:3 holdings:1 mdc:1 1:1 090:1 000:3 dlrs:3 note:2 preferred:1 stock:3 company:2 buy:1 33:1 lot:1 colorado:1 richmond:1 homes:1 ltd:1 unit:1 return:1 650:1 promissory:1 440:1 prefer:2 option:1 convert:1 20:1 pct:1 common:1 year:1 | WINLEY BUYS LAND FROM M.D.C. HOLDINGS INC <MDC>
Winley Home Builders Inc said
it completed a land purchase agreement with M.D.C. Holdings Inc
<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.
|
test/19704 | test/19704 |@title star:1 classics:1 inc:1 scls:1 1st:1 qtr:1 march:1 31:1 net:1 |@word shr:1 three:1 ct:2 vs:4 two:1 net:1 97:1 224:1 58:1 503:1 rev:1 906:1 368:1 714:1 747:1 avg:1 shrs:1 3:2 300:1 000:1 948:1 719:1 | STAR CLASSICS INC <SCLS.O> 1ST QTR MARCH 31 NET
Shr three cts vs two cts
Net 97,224 vs 58,503
Rev 906,368 vs 714,747
Avg shrs 3,300,000 vs 3,948,719
|
test/19706 | test/19706 |@title gabelli:2 firm:2 28:2 5:2 pct:2 stake:2 digiorgio:2 corp:2 may:2 seek:2 control:2 |@word | GABELLI FIRMS HAVE 28.5 PCT STAKE IN DIGIORGIO CORP, MAY
SEEK CONTROL
GABELLI FIRMS HAVE 28.5 PCT STAKE IN DIGIORGIO CORP, MAY
SEEK CONTROL
|
test/19710 | test/19710 |@title cleopatra:1 kohlique:1 inc:1 cleo:1 year:1 net:1 |@word year:1 end:1 march:1 31:1 shr:1 three:1 ct:2 vs:3 11:1 net:1 384:1 723:1 800:1 137:1 revs:1 5:2 1:1 mln:2 3:1 | CLEOPATRA KOHLIQUE INC <CLEO.O> YEAR NET
year ended March 31
Shr three cts vs 11 cts
Net 384,723 vs 800,137
Revs 5.1 mln vs 3.5 mln
|
test/19711 | test/19711 |@title interstate:1 bakery:1 ibc:1 buy:1 mexican:1 food:1 firm:1 |@word interstate:1 bakeries:1 corp:1 say:1 royal:1 american:1 food:3 subsidiary:1 agree:1 buy:1 asset:1 landshire:1 products:1 inc:1 new:1 mexico:1 base:1 producer:1 package:1 mexican:1 product:1 term:1 propose:1 transaction:1 disclose:1 | INTERSTATE BAKERIES <IBC>BUYS MEXICAN FOOD FIRM
Interstate Bakeries Corp said
its Royal American Foods subsidiary agreed to buy the assets of
Landshire Food Products Inc, a New-Mexico-based producer of
packaged Mexican food products.
Terms of the proposed transaction were not disclosed.
|
test/19712 | test/19712 |@title federated:1 group:1 inc:1 fegp:1 1st:1 qtr:1 loss:1 |@word period:1 end:1 may:1 31:1 shr:1 loss:2 eight:1 ct:2 vs:3 profit:2 six:1 net:1 895:1 000:2 662:1 sale:1 91:1 1:1 mln:2 89:1 8:1 | FEDERATED GROUP INC <FEGP.O> 1ST QTR LOSS
Period ended May 31.
Shr loss eight cts vs profit six cts
Net loss 895,000 vs profit 662,000
Sales 91.1 mln vs 89.8 mln
|
test/19713 | test/19713 |@title gabelli:1 firm:1 hold:1 28:1 5:1 digiorgio:1 dig:1 stake:1 |@word group:9 firm:3 lead:2 gabelli:7 inc:5 tell:2 government:2 regulator:1 hold:4 28:1 5:1 pct:2 stake:1 digiorgio:8 corp:1 common:6 stock:3 say:4 two:1 partnership:1 make:2 part:1 may:1 seek:1 control:2 company:3 filing:2 securities:1 exchange:1 comission:1 2:2 430:1 100:1 share:8 total:1 059:1 400:1 gamco:1 investors:1 funds:1 investment:2 purpose:2 rosenthal:2 partners:1 lp:1 g:1 r:1 partner:1 remain:3 370:1 700:1 sec:2 ultimately:1 obtain:1 contingent:1 upon:1 approval:2 accord:1 previously:1 report:1 co:2 acting:1 advisor:1 include:1 propose:1 june:3 25:2 acquire:2 per:1 price:1 20:2 dlrs:4 cash:1 subordinated:1 note:1 face:1 value:1 eight:1 14:1 redeemable:1 preferred:1 one:1 post:1 buyout:2 proposal:2 open:1 july:1 17:1 also:2 provide:1 key:1 member:1 management:1 director:1 would:1 invite:1 participate:1 subject:1 due:1 diligence:1 review:1 execution:1 merger:1 agreement:1 arrangement:1 financing:1 receipt:1 could:1 complete:1 within:1 60:1 day:1 april:1 13:1 26:2 entire:1 net:1 purchase:1 403:1 600:1 22:1 79:1 | GABELLI FIRMS HOLD 28.5 DIGIORGIO <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,' according to
the SEC filing.
As previously reported, Gabelli and Co Inc, acting as
investment advisor to a group including Gabelli-Rosenthal,
proposed on June 25 to acquire all Digiorgio common shares for
a per share price of 20 dlrs in cash, a subordinated note with
a face value of eight dlrs, 14 pct redeemable preferred stock,
and one common share of the post-buyout company.
The June 25 buyout proposal, which remains open until July
17, also provides that key members of Digiorgio management and
some of its directors would be invited to remain with the firm
and participate in the group acquiring the company.
The proposal is also subject to a due diligence review,
execution of a merger agreement, arrangement of financing and
receipt of government approvals, all of which Gabelli and Co
said could be completed within 60 days.
Between April 13 and June 26, the entire group led by
Gabelli Group Inc made net purchases of 403,600 Digiorgio
common shares at 22.20 dlrs to 26.79 dlrs a share.
|
test/19719 | test/19719 |@title unicoa:1 merge:1 united:1 insurance:1 unit:1 |@word unicoa:3 corp:1 say:1 agree:1 merger:1 wholly:1 subsidiary:1 united:2 insurance:1 co:1 america:1 agreement:2 outstanding:2 share:3 common:2 stock:2 convert:1 one:1 subject:1 shareholder:2 regulatory:1 approval:1 teledyne:1 inc:1 tdy:1 98:1 4:1 pct:1 meeting:1 expect:1 hold:1 august:1 | <UNICOA> TO MERGE INTO ITS UNITED INSURANCE UNIT
Unicoa Corp said it agreed to a merger
with its wholly-owned subsidiary, United Insurance Co of
America.
Under the agreement, each outstanding share of Unicoa
common stock will be converted into one share of United common
stock.
The agreement is subject to shareholder and regulatory
approval. Teledyne Inc <TDY> owns about 98.4 pct of Unicoa's
outstanding shares. A shareholder meeting is expected to be
held in August.
|
test/19721 | test/19721 |@title rain:1 help:1 u:1 western:1 corn:1 belt:1 seen:1 |@word weekend:3 rain:8 western:1 corn:3 belt:4 bring:3 relief:1 crop:2 area:2 dry:1 earlier:1 month:1 develop:1 weather:2 pattern:4 welcome:1 moisture:2 central:3 eastern:4 location:1 week:3 accord:1 dale:1 mohler:4 senior:1 meteorologist:1 accu:1 inc:1 go:1 next:1 two:1 three:1 day:1 say:7 fairly:1 wet:1 normal:2 rainfall:1 average:1 1:7 2:5 inch:5 across:3 southern:1 minnesota:1 3:1 4:2 southwest:1 iowa:1 one:2 nebraska:2 south:1 illinois:1 field:1 see:1 virtually:1 receive:1 scatter:1 thundershower:1 activity:2 today:1 move:4 indiana:1 ohio:1 thudershower:1 yield:1 general:1 tomorrow:1 get:1 pretty:1 good:2 heavy:1 expect:2 spark:1 early:3 selloff:1 soybean:1 future:1 chicago:1 board:1 trade:1 price:1 14:1 20:1 cent:2 november:1 19:1 5:1 43:1 dlrs:1 cold:1 front:1 midwest:1 north:1 later:1 could:1 new:1 assure:1 condition:1 developed:1 crucial:1 pollination:1 stage:1 july:1 | RAINS HELP U.S. WESTERN CORN BELT, MORE SEEN
Weekend rain over the Western Corn Belt
brought further relief to crop areas that had been dry earlier
this month, and developing weather patterns will bring welcome
moisture to central and eastern belt locations this week,
according to Dale Mohler, senior meteorologist for Accu-Weather
Inc.
'There is going to be more rain for the next two, three
days,' he said. 'We're in a fairly wet pattern with normal to
above normal moisture this week.'
Mohler said rainfall averaged 1/2 inch across southern
Minnesota, 3/4 inch over southwest Iowa, one inch in eastern
Nebraska and 1-1/2 inches in south-central Nebraska.
Illinois fields saw virtually no rain over the weekend but
were receiving scattered thundershower activity today, he said.
Rain patterns will move across Indiana to Ohio with
thudershower activity yielding to more general rains, he said.
'Tomorrow, that eastern area will get 1/4 to one inch, a
pretty good rain,' Mohler said.
Rain was heavier than expected over the weekend, sparking
an early selloff in soybean futures at the Chicago Board of
Trade. Prices were off 14 to 20-1/2 cents with November off
19-1/2 cents at 5.43-1/2 dlrs.
Mohler said the cold front now over the eastern belt is
expected to move over the central Midwest, then move north
later in the week. That could bring new rain patterns across
the Corn Belt and assure good crop conditions as
early-developed corn moves into the crucial pollination stage
in early July, he said.
|
test/19723 | test/19723 |@title hovnanian:1 enterprises:1 inc:1 hov:1 qtr:1 earnings:1 |@word may:1 31:1 end:1 shr:1 27:1 ct:2 vs:4 14:1 net:1 5:1 664:1 000:2 2:2 812:1 rev:1 68:1 mln:2 54:1 7:1 avg:1 shrs:1 21:1 254:1 054:1 20:1 167:1 714:1 note:1 first:1 quarter:1 report:1 | HOVNANIAN ENTERPRISES INC <HOV> QTR EARNINGS
May 31 end
Shr 27 cts vs 14 cts
Net 5,664,000 vs 2,812,000
Revs 68.2 mln vs 54.7 mln
Avg shrs 21,254,054 vs 20,167,714
NOTE: First quarter report
|
test/19726 | test/19726 |@title fed:2 approve:2 citicorp:2 purchase:2 asset:2 sears:2 calif:2 thrift:2 |@word | FED APPROVES CITICORP PURCHASE OF SOME ASSETS OF SEARS
CALIF. THRIFT
FED APPROVES CITICORP PURCHASE OF SOME ASSETS OF SEARS
CALIF. THRIFT
|
test/19727 | test/19727 |@title health:1 property:2 hrp:1 buy:1 |@word health:2 rehabilitation:3 property:2 trust:1 say:2 reach:1 understanding:1 purchase:1 three:1 nursing:1 facility:1 mass:1 conn:1 29:1 mln:1 dlrs:1 greenery:2 group:1 inc:1 grgi:1 building:1 lease:1 back:1 initial:1 term:1 seven:1 year:2 subject:1 renewal:1 option:1 additional:1 23:1 transaction:1 expect:1 close:1 august:1 31:1 | HEALTH PROPERTIES <HRP> TO BUY PROPERTIES
Health and Rehabilitation
Properties Trust said it reached an understanding to purchase
three nursing facilities in Mass. and Conn. for 29 mln dlrs
from Greenery Rehabilitation Group Inc <GRGI.O>.
The buildings will be leased back to Greenery for an
initial term of seven years, subject to renewal options for an
additional 23 years, Health and Rehabilitation Properties said.
The transaction is expected to close on or before August 31.
|
test/19731 | test/19731 |@title bsn:3 buy:1 stake:1 macgregor:1 mgs:1 |@word corp:1 say:2 hold:1 less:1 five:1 pct:1 macgregor:1 sporting:1 good:1 company:1 stock:1 acquire:1 recent:1 open:1 market:1 purchase:1 stake:1 require:1 specific:1 disclosure:1 | BSN <BSN> BUYS STAKE IN MACGREGOR <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.
|
test/19732 | test/19732 |@title vernitron:1 vrn:1 set:1 record:1 date:1 merger:1 vote:1 |@word vernitron:5 corp:3 say:3 set:1 new:1 record:1 date:1 shareholder:2 entitle:1 vote:1 propose:1 merger:1 sb:2 holding:2 july:1 10:1 manufacture:1 electromechanical:1 component:1 related:1 product:1 service:1 expect:1 special:1 meeting:1 hold:2 august:1 55:1 2:1 pct:1 result:1 tender:1 offer:1 november:1 1986:1 | VERNITRON <VRN> SETS RECORD DATE FOR MERGER VOTE
Vernitron Corp said it has set a
new record date for shareholders entitled to vote on the
proposed merger of Vernitron Corp with SB Holding Corp for July
10.
Vernitron, which manufactures electromechanical components
and related products and services, said it expects that a
special meeting of shareholders will be held in August.
Vernitron said that SB Holding holds 55.2 pct in Vernitron,
resulting from a tender offer in November 1986.
|
test/19734 | test/19734 |@title fed:1 allow:1 citicorp:1 cci:1 sears:1 thrift:1 deal:1 |@word federal:1 reserve:1 board:1 say:4 approve:2 citicorp:5 application:2 purchase:2 subsidiary:1 savings:2 oakland:1 calif:2 asset:6 assume:2 liability:4 sears:5 bank:3 glendale:1 saving:8 propose:1 two:1 billion:4 dlrs:3 deposit:1 1:1 9:2 50:1 branch:4 office:1 proposal:2 involve:1 less:1 one:1 third:1 sear:1 roebuck:1 co:1 fed:2 generally:1 determine:1 potentially:1 adverse:1 effect:1 allow:2 affiliation:1 loan:2 association:2 although:1 hold:1 company:1 acquire:1 fail:2 thrift:1 properly:1 may:1 view:1 permissible:1 acquisition:2 certain:1 l:2 rather:1 successor:1 fidelity:1 4:1 operate:1 86:1 california:2 mainly:1 north:1 6:2 91:1 predominantly:1 southern:1 unanimously:1 eliminate:1 competitor:1 | FED ALLOWS CITICORP <CCI>, SEARS <S> THRIFT DEAL
The Federal Reserve Board said it
approved Citicorp's application to purchase through its
subsidiary, Citicorp Savings of Oakland, Calif., some assets
and assume some liabilities of Sears Savings Bank of Glendale,
Calif.
Citicorp Savings proposed to assume two billion dlrs in
deposits and other liabilities and to purchase 1.9 billion dlrs
in assets of 50 branch offices of Sears Savings.
The proposal involved less than one third of the assets and
liabilities of Sears Savings, owned by Sears, Roebuck and Co
<S>.
The Fed said that it generally has determined there were
potentially adverse effects of allowing affiliations of banks
and savings and loan associations, although it has allowed bank
holding companies to acquire some failing thrifts.
It said Citicorp's proposal 'properly may be viewed as the
permissible acquisition of certain assets and liabilities of S
and L branches rather than the acquisition of an S and L.'
Citicorp Savings, the successor to the failed Fidelity
Savings and Loan Association, has assets of 4.9 billion dlrs
and operates 86 branches in California, mainly in the north.
Sears Savings has 6.6 billion in assets and 91 branches
predominantly in southern California.
The application, which was approved unanimously, will not
eliminate Sears Savings as a competitor, the Fed said.
|
test/19737 | test/19737 |@title icn:3 buy:1 stake:1 eastman:1 kodak:1 ek:1 |@word pharmaceuticals:1 inc:2 say:5 purchase:3 remain:1 225:1 000:1 share:5 viratek:4 vira:1 eastman:1 kodak:3 co:1 part:1 previously:2 announce:2 program:1 company:2 pay:1 10:1 50:1 dlrs:2 2:2 4:1 mln:3 icn:2 also:1 authorize:1 additional:1 1:2 5:1 common:1 date:1 buy:1 total:1 include:1 56:1 pct:1 result:1 transaction:1 | ICN <ICN> BUYS STAKE FROM EASTMAN KODAK <EK>
ICN Pharmaceuticals Inc said
it purchased the remaining 225,000 shares of Viratek Inc
<VIRA.O> owned by Eastman Kodak Co owned as part of a
previously announced program.
The company said it paid Kodak 10.50 dlrs a share or 2.4
mln dlrs. As previously announced, ICN also said it authorized
the additional purchase of up to 1.5 mln shares of Viratek
common. To date, ICN said it bought a total of about 1.2 mln
shares of Viratek, including the shares purchased from Kodak.
The company said it now owns 56 pct of Viratek as a result
of these transactions.
|
test/19742 | test/19742 |@title rite:1 aid:1 corp:1 rad:1 1st:1 qtr:1 may:1 30:1 |@word oper:2 shr:1 50:1 ct:2 vs:3 40:1 net:2 20:1 8:1 mln:5 16:1 4:1 revs:1 531:1 7:2 418:1 note:1 1987:1 1st:1 quarter:1 exclude:1 gain:1 47:1 1:2 dlrs:2 14:1 share:1 discontinued:1 operation:1 | RITE AID CORP <RAD> 1ST QTR MAY 30
Oper shr 50 cts vs 40 cts
Oper net 20.8 mln vs 16.4 mln
Revs 531.7 mln vs 418.7 mln
NOTE: 1987 1st quarter net excludes a gain of 47.1 mln dlrs
or 1.14 dlrs a share for discontinued operations.
|
test/19744 | test/19744 |@title maxtor:1 corp:1 mxtr:1 buy:1 private:1 firm:1 |@word maxtor:3 corp:1 say:3 buy:1 privately:1 hold:1 storage:4 dimension:3 inc:1 undisclosed:1 sum:1 company:1 incorporate:1 high:3 capacity:3 5:1 1:1 4:1 inch:1 winchester:1 optical:1 disk:2 drive:2 family:1 datum:1 subsystem:1 ibm:1 pc:2 xts:1 ats:1 compatible:1 creator:1 speedstor:1 software:1 utility:1 program:1 integrate:1 pcs:1 purchase:1 reflect:1 desire:1 compete:1 segment:1 market:1 | MAXTOR CORP <MXTR.O> BUYS PRIVATE FIRM
Maxtor Corp said it bought
privately-held Storage Dimensions Inc for an undisclosed sum.
The company said Storage Dimensions incorporates Maxtor's
high-capacity 5-1/4-inch Winchester and optical disk drives
into a family of data storage subsystems for IBM PCs, XTs, ATs
and compatibles.
Storage Dimensions is the creator or SpeedStor software, a
utility program that integrates high-capacity disk drives into
PCs.
Maxtor said the purchase reflects its desire to compete in
the high-capacity segment of the PC market.
|
test/19745 | test/19745 |@title super:1 rite:1 foods:1 inc:1 srfi:1 1st:1 qtr:1 may:1 30:1 |@word shr:1 19:1 ct:2 vs:3 seven:1 net:1 936:1 000:2 351:1 revs:1 153:1 3:1 mln:2 145:1 | SUPER RITE FOODS INC <SRFI.O> 1ST QTR MAY 30
Shr 19 cts vs seven cts
Net 936,000 vs 351,000
Revs 153.3 mln vs 145 mln
|
test/19748 | test/19748 |@title sec:2 charge:2 campeau:2 ally:2 store:2 disclosure:2 violation:2 recent:2 takeover:2 |@word | SEC CHARGES CAMPEAU'S ALLIED STORES WITH DISCLOSURE
VIOLATIONS IN RECENT TAKEOVER
SEC CHARGES CAMPEAU'S ALLIED STORES WITH DISCLOSURE
VIOLATIONS IN RECENT TAKEOVER
|
test/19751 | test/19751 |@title group:1 may:1 support:1 cardis:1 corp:1 cds:1 buyout:1 |@word group:8 company:7 control:1 brookehill:6 partners:2 inc:3 tell:3 government:1 authority:1 may:3 support:2 buyout:1 cardis:8 corp:1 way:1 maximize:2 value:3 stock:4 filing:1 securities:1 exchange:1 commission:1 disclose:1 currently:2 hold:2 5:2 pct:1 stake:1 common:4 say:3 would:1 likely:2 acquisition:2 whole:1 part:2 another:1 party:2 term:1 move:1 mean:1 shareholder:1 investment:3 although:1 characterize:1 holding:1 principally:1 intend:1 contact:2 third:2 interested:1 los:1 angeles:1 base:2 auto:1 distributor:1 add:1 already:1 concern:1 understanding:1 reach:1 share:5 continue:2 offer:1 opportunity:1 price:1 appreciation:1 basis:1 asset:1 earning:1 momentum:1 sec:2 318:1 900:1 consist:1 new:2 york:2 two:1 subsidiary:1 equities:1 brokerage:1 moore:2 grossman:1 derose:2 advisor:1 walter:1 grossmman:1 edward:1 robert:1 one:1 interest:1 partner:1 since:1 april:1 27:1 member:1 make:1 net:1 purchase:2 6:1 000:1 approximately:1 4:1 dlrs:1 additional:1 also:1 reserve:1 right:1 sell:1 | GROUP MAY SUPPORT CARDIS CORP <CDS> BUYOUT
A group of companies controlled by
Brookehill Partners Inc told government authorities it may
support a buyout of Cardis Corp as a way to maximize the value
of the company's stock.
In a filing with the Securities and Exchange Commission,
the group disclosed that it currently holds a 5.5 pct stake in
Cardis common stock, and said it 'would likely support' an
acquisition of the company as a whole or in parts by another
party, terming such a move 'the most likely means for the
company's shareholders to maximize the value of their
investment.'
Although the group characterized its Cardis stock holdings
as principally for investment, it said it intends to contact
third parties who might be interested in an acquisition of
Cardis, a Los Angeles-based auto parts distributor.
The group added its has already had 'some contacts' with
others concerning the company, but said no understandings have
been reached.
'The (Cardis) common shares continue to offer opportunity
for price appreciation on the basis of the company's asset
value and earnings momentum,' the Brookehill group told the
SEC.
The group, which currently holds 318,900 Cardis common
shares, consists of New York-based Brookehill Partners and its
two subsidiaries, Brookehill Equities Inc, a brokerage, and
Moore, Grossman and deRose Inc, an investment advisor. Walter
Grossmman, S. Edward Moore and Robert deRose, all of New York,
each own one-third interests in Brookehill Partners.
Since April 27, members of the Brookehill group made net
purchases of 6,000 Cardis common shares at approximately 4 dlrs
a share. The group told the SEC it may continue to purchase
additional Cardis stock, but also reserved the right to sell
its shares in the company.
|
test/19756 | test/19756 |@title u:2 congressman:1 see:1 reagan:1 gulf:1 reflagge:1 |@word house:2 speaker:1 jim:1 wright:2 say:1 would:1 question:1 president:1 reagan:2 tomorrow:1 plan:3 protect:1 kuwaiti:2 oil:1 tanker:2 u:2 warship:1 attack:1 iran:1 gulf:1 senate:1 democrats:1 control:1 congress:1 critical:1 decide:1 try:1 pass:1 legislation:1 prohibit:1 texas:1 democrat:1 tell:1 reporter:1 administration:1 go:1 ahead:1 reflag:1 ship:1 without:1 ask:1 congressional:1 leader:1 advice:1 | U.S.CONGRESSMAN TO SEE REAGAN ON GULF REFLAGGING
U.S. House Speaker Jim Wright said he
would question President Reagan tomorrow about his plan to
protect Kuwaiti oil tankers with U.S. warships from attacks by
Iran in the Gulf.
House and Senate Democrats, who control Congress, have been
critical of Reagan's plan but have not decided how or if they
should try to pass legislation to prohibit it.
Wright, a Texas Democrat, told reporters the Administration
had gone ahead with plans to reflag the Kuwaiti tankers as U.S.
ships without asking Congressional leaders for their advice.
|
test/19758 | test/19758 |@title caremark:1 cmrk:1 vote:1 baxter:1 bax:1 merger:1 |@word caremark:3 inc:2 baxter:4 travenol:1 laboratories:1 jointly:1 announce:3 shareholder:2 vote:2 july:1 31:1 approve:1 previously:1 merger:1 company:1 say:1 record:1 june:1 26:1 entitle:1 meeting:1 hold:1 newport:1 beach:1 calif:1 1000:1 pdt:1 may:1 11:1 carmark:2 definitive:1 agreement:1 acquire:1 stock:1 transaction:1 value:1 528:1 mln:1 dlrs:1 | CAREMARK <CMRK.O> TO VOTE BAXTER <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 Carmark announced a definitive
agreement for Baxter to acquire Carmark in a stock transaction
valued at 528 mln dlrs.
|
test/19760 | test/19760 |@title sec:1 say:1 campeau:1 unit:1 violate:1 disclosure:1 rule:1 |@word securities:1 exchange:1 commission:1 charge:3 allied:8 stores:1 corp:2 fail:2 promptly:3 disclose:5 key:1 step:1 take:1 last:1 september:1 thwart:2 takeover:5 attempt:1 campeau:13 administrative:3 complaint:2 sec:9 say:6 legal:2 adviser:1 inform:1 shareholder:1 agency:2 begin:3 talk:3 youngstown:1 ohio:1 shopping:3 center:3 developer:1 edward:1 debartolo:7 response:1 offer:5 acquire:1 ally:8 estimate:1 4:1 2:1 billion:1 dlrs:6 jan:1 1:1 follow:2 battle:2 sept:3 25:2 day:2 board:2 urge:1 rejection:1 12:1 tender:4 58:2 share:4 negotiate:2 sale:3 six:1 advisor:1 director:1 george:1 kern:3 head:2 merger:3 acquisition:2 group:1 new:1 york:1 law:3 firm:1 sullivan:1 cromwell:1 decide:2 amend:2 file:5 even:2 though:2 result:1 price:1 405:1 mln:2 security:2 require:1 target:1 company:1 thing:1 major:1 asset:1 increase:1 80:1 pct:4 stock:2 55:1 raise:1 bid:1 66:1 29:1 partnership:1 deal:1 aim:1 first:1 disclosure:1 make:2 oct:3 8:2 approve:1 3:1 agreement:2 execute:1 7:1 later:2 engage:2 bitter:1 control:1 win:1 october:1 buy:2 block:1 48:2 total:1 controversial:1 move:1 minute:1 drop:2 hostile:1 additional:1 federal:1 judge:1 allow:1 complete:1 give:1 majority:1 stake:1 rest:1 69:1 plan:1 court:1 brief:2 join:1 illegal:1 never:1 since:2 case:1 proceeding:1 ask:1 order:1 comply:1 reporting:1 provision:1 future:1 although:1 longer:1 publicly:1 trade:1 become:1 subsidiary:1 still:1 annual:1 quarterly:1 report:1 outstanding:1 debt:1 | SEC SAYS CAMPEAU UNIT VIOLATED DISCLOSURE RULES
The Securities and Exchange
Commission charged Allied Stores Corp with failing to promptly
disclose key steps it was taking last September to thwart a
takeover attempt by Campeau Corp.
In an administrative complaint, the SEC said Allied and its
legal adviser failed to promptly inform shareholders and the
agency that it had begun talks with Youngstown, Ohio, shopping
center developer Edward DeBartolo in response to Campeau's
takeover offer.
Campeau acquired Allied for an estimated 4.2 billion dlrs
on Jan 1, following a battle with DeBartolo.
On Sept 25, a day after Allied disclosed that its board had
urged rejection of Campeau's Sept 12 tender offer for 58 dlrs a
share, Allied began negotiating the sale of six shopping
centers to DeBartolo, the SEC said.
Allied legal advisor and director George Kern, who heads
the merger and acquisitions group at the New York law firm of
Sullivan and Cromwell, decided against amending Allied's SEC
filing to disclose the talks even though they had resulted in
sales price of 405 mln dlrs for the shopping centers, it said.
Securities law requires takeover target companies to
promptly disclose such things as the sale of major assets.
The day after Campeau increased its tender offer to 80 pct
of Allied's stock from 55 pct and raised its bid to 66 dlrs a
share from 58 dlrs on Sept 29, Allied and a partnership headed
by DeBartolo began negotiating a takeover deal aimed at
thwarting Campeau, the SEC said.
Kern again decided against disclosing the talks in an
amended SEC filing, the agency charged.
Allied's first disclosure of the DeBartolo takeover was
made on Oct 8, even though its board approved the merger on Oct
3 and the merger agreement was executed on Oct 7, the complaint
said.
DeBartolo and Campeau later engaged in a bitter battle for
control of Allied, with Campeau winning out later in October
when it bought a block of 25.8 mln shares of Allied stock, or
48 pct of the total, in a controversial move made only minutes
after it dropped its hostile tender offer.
The acquisition of the additional 48 pct, which a federal
judge allowed to be completed, gave Campeau a majority stake in
Allied. Campeau bought the rest at 69 dlrs a share.
The SEC said it had planned to file a court brief joining
with Allied in charging that Campeau had engaged in an illegal
tender offer.
But the SEC brief was never filed since the case was
dropped following an agreement between Campeau and DeBartolo.
In the administrative proceeding against Allied and Kern,
the SEC is asking for an administrative order that they comply
with reporting provisions of securities laws in the future.
Although Allied is no longer publicly traded since it
became a subsidiary of Campeau, it still files annual and
quarterly reports to the SEC because it has outstanding debt.
|
test/19761 | test/19761 |@title great:1 country:1 bank:1 gcbk:1 year:1 may:1 31:1 net:1 |@word shr:2 31:1 ct:1 vs:7 n:2 net:2 671:1 000:2 dlrs:11 1:4 256:1 year:1 85:1 four:1 mln:8 2:2 8:1 asset:1 426:1 4:1 334:1 deposit:1 323:1 277:1 loan:1 335:1 9:2 254:1 note:1 company:1 give:1 1986:2 per:1 share:1 earning:1 convert:1 mutual:1 saving:2 bank:2 stock:1 january:1 | GREAT COUNTRY BANK <GCBK.O> YEAR MAY 31 NET
Shr 31 cts vs n/a
Net 671,000 dlrs vs 1,256,000 dlrs
Year
Shr 1.85 dlrs vs n/a
Net four mln dlrs vs 2.8 mln dlrs
Assets 426.4 mln dlrs vs 334.1 mln dlrs
Deposits 323.1 mln dlrs vs 277.2 mln dlrs
Loans 335.9 mln dlrs vs 254.9 mln dlrs
Note:the company does not give 1986 per share earnings as
it converted from a mutual savings bank to a stock savings bank
in January 1986
|
test/19762 | test/19762 |@title allied:1 signal:1 ald:1 complete:1 unit:1 sale:1 |@word allied:1 signal:1 inc:2 say:4 complete:1 sale:1 seven:1 business:2 electronic:1 instrumentation:1 sector:1 1:1 8:1 billion:1 dlrs:1 cash:1 debt:2 assume:1 purchaser:1 company:3 last:1 december:1 would:1 sell:2 unit:2 mid:1 1987:1 identify:1 buyer:1 proceed:1 use:1 reduce:1 continue:1 share:1 buyback:1 program:1 increase:1 strategic:1 investment:1 core:1 corporate:1 purpose:1 ampex:1 corp:3 amphenol:1 prodcuts:1 linotype:1 group:1 neptune:1 international:1 mpb:1 revere:1 sigma:1 instruments:1 | ALLIED-SIGNAL <ALD> COMPLETES UNIT SALES
Allied-Signal Inc said it
completed the sale seven businesses in its electronics and
instrumentation sector for 1.8 billion dlrs in cash and in debt
assumed by the purchasers.
The company said last December its would sell the units by
mid 1987. It did not identify the buyers.
The company said the proceeds will be used to reduce debt,
continue the company's share buyback program, and increase
strategic investments in its core businesses and other
corporate purposes.
It said the units sold were Ampex Corp, Amphenol Prodcuts,
Linotype Group, Neptune International, MPB Corp, Revere Corp
and Sigma Instruments Inc.
|
test/19763 | test/19763 |@title cycare:1 cycr:1 buy:1 control:1 data:1 cad:1 unit:1 |@word cycare:1 systems:1 inc:1 information:1 processing:1 system:2 company:1 say:1 purchase:1 asset:1 control:1 data:1 corp:1 medtec:2 unit:1 undisclosed:1 term:1 provider:1 patient:1 accounting:1 scheduling:1 large:1 scale:1 group:1 medical:1 practice:1 | CYCARE <CYCR.O> BUYS CONTROL DATA <CAD> UNIT
Cycare Systems Inc, an
information processing systems company, said it purchased the
assets of Control Data Corp's MedTec unit for undisclosed
terms.
MedTec is a provider of patient accounting and scheduling
systems for large scale group medical practices.
|
test/19764 | test/19764 |@title u:2 minerals:1 usmx:1 commission:1 new:1 gold:1 mine:1 |@word minerals:1 exploration:1 co:1 say:4 pegasus:1 gold:3 inc:1 pgul:1 spokane:1 wash:1 officially:1 commission:1 new:2 zinc:2 lead:2 produce:2 mine:4 u:3 mineral:3 montana:1 tunnels:1 near:1 helena:1 mont:1 expect:1 reach:1 full:1 production:1 august:1 1987:1 design:1 operate:1 average:1 12:1 500:1 ton:1 ore:1 per:1 day:1 project:1 95:1 000:1 ounce:1 1988:1 plus:1 significant:1 quantity:1 silver:1 50:1 pct:1 net:1 profit:1 royalty:1 interest:1 payback:1 development:1 cost:1 | U.S. MINERALS <USMX.O> COMMISSIONS NEW GOLD MINE
U.S. Minerals Exploration Co said it and
Pegasus Gold Inc <PGUL.O> of Spokane, Wash, officially
commissioned a new gold, zinc and lead producing mine.
U.S. Minerals said the new Montana Tunnels Mine near
Helena, Mont, is expected to reach full production in August
1987. U.S. Minerals said the mine is designed to operate at an
average of 12,500 tons or ore per day and is projected to
produce 95,000 ounces of gold in 1988, plus significant
quantities of silver, lead and zinc.
U.S. Minerals said it has a 50 pct net profit royalty
interest in the mine after payback of development costs.
|
test/19766 | test/19766 |@title becor:1 bcw:1 adjourn:1 delay:1 holder:1 meeting:1 |@word becor:2 western:1 inc:1 say:2 business:1 transact:1 shareholder:2 meeting:3 schedule:1 1000:1 cdt:1 tomorrow:1 permanently:1 adjourn:1 definitive:1 agreement:1 transaction:1 result:1 offer:1 pende:1 company:1 stock:1 date:1 new:1 establish:1 | BECOR <BCW> TO ADJOURN DELAYED HOLDERS MEETING
Becor Western Inc said no
business will be transacted at the shareholders meeting
scheduled for 1000 CDT tomorrow and the meeting will be
permanently adjourned.
If a definitive agreement or transaction results from any
of the offers now pending for the company's stock, Becor said,
a date for a new shareholders meeting will be established.
|
test/19767 | test/19767 |@title universal:1 communication:1 ucs:1 sell:1 asset:1 |@word universal:2 communication:2 systems:1 inc:2 say:6 tentatively:1 agree:1 sell:1 substantially:1 asset:1 79:1 mln:9 dlrs:7 cash:2 note:4 plus:1 limited:1 profit:3 participation:2 company:4 term:1 sale:1 approve:1 board:1 prime:1 motor:1 inns:1 pdq:1 owner:1 84:1 pct:3 outstanding:1 stock:1 describe:1 purchaser:3 subsidiary:1 field:1 one:1 100:1 large:1 u:1 corporation:1 transaction:1 involve:1 payment:3 20:1 non:1 interest:1 bearing:1 11:1 3:2 four:4 equal:2 instalment:2 year:2 two:1 promissory:1 guarantee:1 affiliate:1 31:2 5:2 dlr:2 14:1 payable:1 16:1 8:1 due:1 dec:1 1992:2 include:1 acquire:1 universdal:1 element:1 terminate:1 either:1 five:1 1988:1 six:1 1989:1 seven:1 1990:1 eight:1 1991:1 | UNIVERSAL COMMUNICATION <UCS> TO SELL ASSETS
Universal Communication Systems Inc
said it has tentatively agreed to sell substantially all its
assets for about 79 mln dlrs in cash and notes plus limited
profit participation.
The company said the terms of the sale have been approved
by its board and by Prime Motor Inns Inc <PDQ>, owner of about
84 pct of Universal's outstanding stock.
It described the purchaser as a subsidiary of a company in
the communications field which is one of the 100 largest U.S.
corporations.
The company said the transaction involves the payment of 20
mln dlrs in cash, a non-interest bearing payment of 11.3 mln
dlrs in four equal instalments over four years and two
promissory notes guaranteed by an affiliate of the purchaser.
It said a 31.5 mln dlr 14 pct note is payable in four equal
instalments over four years. It said a 16.3 mln dlr 8.5 pct
note due Dec 31, 1992, includes participation in the 1992
profits of the acquiring company. Universdal said the profit
element can be terminated with payments by the purchaser of
either five mln dlrs in 1988, six mln dlrs in 1989, seven mln
dlrs in 1990 or eight mln dlrs in 1991.
|
test/19769 | test/19769 |@title union:1 uel:1 end:1 pact:1 sell:1 canbra:1 cbf:1 |@word union:4 enterprises:1 ltd:2 say:3 agreement:2 sell:1 interest:3 canbra:2 foods:1 macluan:2 capital:1 corp:1 terminate:1 fail:1 make:1 offer:1 72:1 pct:1 june:1 22:1 deadline:1 longer:1 bind:1 continue:1 seek:1 buyer:1 | UNION <UEL.TO> ENDS PACT TO SELL CANBRA <CBF.TO>
Union Enterprises Ltd said its agreement
to sell its interest in Canbra Foods Ltd to Macluan Capital
Corp has been terminated.
Union said Macluan failed to make an offer for Union's 72
pct interest in Canbra before the June 22 deadline.
Union said it is no longer bound by the agreement and is
continuing to seek a buyer for the interest.
|
test/19773 | test/19773 |@title ssmc:2 ssm:1 buy:1 cutter:1 exchange:1 division:1 |@word inc:2 say:3 execute:1 letter:1 understanding:1 acquire:1 part:4 catalog:3 division:3 cutters:1 exchange:1 undisclosed:1 amount:1 ssmc:3 spin:1 singer:1 co:1 smf:1 year:1 ago:1 wholesale:1 needle:1 industrial:1 sewing:1 trade:1 u:1 agreement:1 key:1 manager:1 employee:1 nashville:1 tenn:1 relocate:1 facility:1 murfreesboro:1 | SSMC <SSM> TO BUY CUTTERS EXCHANGE DIVISION
SSMC Inc said it has executed a
letter of understanding to acquire the Parts Catalog Division
of <Cutters Exchange Inc> for an undisclosed amount.
SSMC, spun off from the Singer Co <SMF> a year ago, said
that the Parts Catalog Division wholesales parts and needles to
the industrial sewing trade in the U.S.
Under the agreement, key managers and employees of the
Parts Catalog Division in Nashville, Tenn, will relocate to the
SSMC facility in Murfreesboro, SSMC said.
|
test/19775 | test/19775 |@title u:1 end:1 netherlands:1 antille:1 tax:1 treaty:1 |@word treasury:5 department:1 say:6 notify:1 netherlands:5 terminate:2 1948:1 income:1 tax:3 treaty:3 apply:1 antille:3 aruba:1 termination:1 effective:1 january:1 1:1 1988:1 two:1 sentence:1 announcement:1 decide:1 end:1 negotiation:1 united:1 states:1 past:1 eight:1 year:2 fail:1 reach:1 accord:1 spokesman:3 decision:1 mean:2 sale:1 u:3 parent:1 company:1 eurobond:1 subsidiary:1 longer:1 free:1 30:1 pct:1 withhold:1 may:1 cause:1 bond:4 issuer:2 call:1 early:1 maturity:1 10:1 less:1 issue:1 1984:1 expect:1 action:1 adverse:1 effect:1 general:1 decline:1 interest:2 rate:2 able:1 refinance:1 low:2 however:1 holder:1 presumably:1 face:1 yield:1 | U.S. TO END NETHERLANDS ANTILLES TAX TREATY
The Treasury Department said it
notified the Netherlands that it was terminating the 1948
income tax treaty as it applies to the Netherlands Antilles and
Aruba.
The termination is effective January 1, 1988, the Treasury
said in a two-sentence announcement.
The Treasury decided to end the treaty after negotiations
between the United States and the Netherlands over the past
eight years had failed to reach an accord, a Treasury spokesman
said.
The decision means the sale by U.S. parent companies of
Eurobonds through Netherlands Antilles subsidiaries will no
longer be free of the 30 pct U.S. withholding tax, the
spokesman said.
Terminating the tax treaty with the Netherlands Antilles
may cause bond issuers to call in the bonds early. Most have
maturities of 10 years or less and were issued before 1984, the
spokesman said.
He said the Treasury did not expect the action to have an
adverse effect on U.S. issuers of the bonds because the general
decline in interest rates means they will be able to refinance
at lower interest rates.
However, the holders of the bonds presumably will be faced
with lower yields.
|
test/19780 | test/19780 |@title carolco:1 pictures:1 crc:1 orbi:1 agreement:1 |@word carolco:3 pictures:1 inc:2 say:3 sign:1 letter:1 intent:1 exchange:2 2:2 mln:2 share:4 orbis:2 communications:1 stock:1 within:1 next:1 60:1 day:1 use:1 value:2 7:1 00:1 dlrs:2 total:1 15:1 4:1 adjust:1 base:1 price:1 closing:1 date:1 management:1 remain:1 place:1 least:1 three:1 year:1 | CAROLCO PICTURES <CRC>, ORBIS IN AGREEMENT
Carolco Pictures Inc said it signed
a letter of intent to exchange 2.2 mln of its shares for all
Orbis Communications Inc stock within the next 60 days.
It said the Carolco shares used in the exchange are valued
at 7.00 dlrs a share or a total value of 15.4 mln dlrs and will
be adjusted based on the price of Carolco shares on the closing
date.
It said Orbis management will remain in place for at least
three years.
|
test/19781 | test/19781 |@title cipec:1 study:1 copper:1 market:1 backwardation:1 |@word paris:2 base:2 intergovernmental:1 council:1 copper:3 exporting:1 countries:1 cipec:5 closely:1 study:1 current:2 backwardation:2 world:1 market:2 price:1 envisage:1 take:2 corrective:1 action:1 present:1 source:2 say:2 organisation:1 executive:1 marketing:1 committee:1 review:1 situation:2 series:1 meeting:4 late:2 last:2 week:2 major:1 decision:1 note:1 premium:1 nearby:1 supply:1 forward:1 delivery:1 date:1 back:1 several:1 long:1 record:1 unusual:1 one:1 official:1 add:1 immediate:1 recipe:1 remedy:1 feature:1 gathering:1 10:1 director:1 regional:1 development:1 promotion:1 centre:1 europe:1 japan:1 india:1 brazil:1 main:1 aim:1 prepare:1 ground:1 annual:1 ministerial:2 schedule:1 zaire:1 september:1 three:1 hold:1 keep:1 cost:1 | CIPEC STUDYING COPPER MARKET BACKWARDATION
The Paris-based Intergovernmental Council
of Copper Exporting Countries (CIPEC) is closely studying the
current backwardation in world copper market prices but does
not envisage taking corrective action at present, CIPEC sources
here said.
The organisation's executive and marketing committees
reviewed the current market situation during a series of
meetings here late last week, but took no major decisions.
The sources noted that the backwardation - premium of
nearby supply over forward delivery - dates back several weeks
and is the longest on record.
'It's unusual,' one official said, but added CIPEC did not
have any immediate recipe to remedy the situation.
The meetings featured a gathering of the 10 directors of
CIPEC's regional copper development and promotion centres,
which are based in Europe, Japan, India and Brazil.
Their main aim was to prepare the ground for the annual
ministerial meeting of CIPEC, which is scheduled for Zaire in
late September.
The last three ministerial meetings have been held in Paris
to keep down costs.
|
test/19784 | test/19784 |@title canadian:1 home:1 shopping:1 cws:1 1st:1 qtr:1 loss:1 |@word shr:1 loss:2 26:1 ct:1 net:1 1:1 277:1 737:1 revs:1 3:1 7:1 mln:1 note:1 full:1 name:1 canadian:1 home:1 shopping:1 network:1 ltd:1 period:1 end:1 april:1 30:1 company:1 first:1 quarter:1 operation:1 | CANADIAN HOME SHOPPING (CWS.TO) 1ST QTR LOSS
Shr loss 26 cts
Net loss 1,277,737
Revs 3.7 mln
Note: full name Canadian Home Shopping Network Ltd.
Period ended April 30 was company's first quarter of
operations.
|
test/19786 | test/19786 |@title outokumpu:1 copper:1 deal:1 iberica:1 del:1 cobre:1 |@word finland:1 state:1 mining:1 company:3 outokumpu:4 oy:1 say:1 statement:1 enter:1 spanish:3 market:1 shareholder:1 iberica:2 del:2 cobre:2 manufacturer:1 copper:2 product:2 acquire:1 21:1 pct:1 share:1 set:1 agent:1 spain:1 deal:1 await:1 approval:1 government:1 make:1 tube:1 rod:1 roll:1 draw:1 alloy:1 sale:1 87:1 000:1 tonne:1 output:1 1986:2 amount:1 22:1 billion:2 peseta:1 turnover:1 7:1 58:1 markka:1 | OUTOKUMPU IN COPPER DEAL WITH IBERICA DEL COBRE
Finland's state-owned mining company
Outokumpu Oy said in a statement it was entering Spanish
markets as a shareholder in Iberica del Cobre, S.A., a
manufacturer of copper products.
Outokumpu will acquire 21 pct of the shares in the Spanish
company and a company will be set up as an agent for Outokumpu
Spain. The deal awaits approval by the Spanish government.
Iberica del Cobre makes tubes, rods, rolled and drawn
copper and alloy products and its sales of 87,000 tonnes of
output in 1986 amounted to 22 billion pesetas. Outokumpu's
turnover in 1986 was 7.58 billion markka.
|
test/19787 | test/19787 |@title concord:1 fabrics:1 inc:1 cis:1 3rd:1 qtr:1 oper:1 net:1 |@word period:2 end:2 may:1 31:2 oper:4 shr:2 ct:8 vs:8 29:2 net:2 552:1 035:1 525:1 729:1 sale:2 36:1 7:1 mln:4 1:5 nine:4 mth:1 08:1 dlrs:8 04:1 931:1 488:1 864:1 075:1 104:1 9:1 87:1 6:1 note:2 1986:2 june:1 one:1 earning:2 exclude:2 gain:2 disposal:1 discontinued:1 operation:2 162:1 000:2 share:6 loss:3 585:2 175:2 33:2 quarter:2 432:1 24:1 month:2 discontinue:1 111:1 024:1 six:1 237:1 773:1 13:1 | CONCORD FABRICS INC <CIS> 3RD QTR OPER NET
Period ended May 31
Oper shr 31 cts vs 29 cts
Oper net 552,035 vs 525,729
Sales 36.7 mln vs 29.1 mln
Nine mths
Oper shr 1.08 dlrs vs 1.04 dlrs
Oper net 1,931,488 vs 1,864,075
Sales 104.9 mln vs 87.6 mln
NOTE: 1986 period ended June One
NOTE: Earnings exclude gain on disposal of discontinued
operations of 162,000 dlrs, or nine cts a share vs loss of
585,175 dlrs, or 33 cts a share in the quarter and a gain of
432,000 dlrs, or 24 cts a share vs a loss of 585,175 dlrs, or
33 cts a share for the nine months
1986 earnings exclude losses from discontinued operations
of 111,024 dlrs, or six cts a share in the quarter and 237,773
dlrs, or 13 cts a share for the nine months
|
test/19788 | test/19788 |@title general:1 public:1 utility:1 gpu:1 five:1 mth:1 net:1 |@word period:1 end:1 may:1 31:1 shr:1 1:4 81:1 dlrs:2 vs:3 45:1 net:1 113:1 752:1 000:2 90:1 902:1 revs:1 12:1 billion:2 20:1 note:1 full:1 name:1 general:1 public:1 utilities:1 corp:1 | GENERAL PUBLIC UTILITIES <GPU> FIVE MTHS NET
Period ended May 31
Shr 1.81 dlrs vs 1.45 dlrs
Net 113,752,000 vs 90,902,000
Revs 1.12 billion vs 1.20 billion
NOTE: Full name is General Public Utilities Corp
|
test/19790 | test/19790 |@title comtrex:1 systems:1 corp:1 comx:1 year:1 loss:1 |@word year:1 end:1 march:1 31:1 shr:1 loss:2 three:1 ct:2 vs:4 profit:2 10:1 net:1 58:1 285:1 182:1 039:1 sale:1 3:2 857:1 122:1 188:1 555:1 avg:1 shrs:1 2:1 108:1 080:1 1:1 891:1 250:1 | COMTREX SYSTEMS CORP <COMX.O> YEAR LOSS
Year ended March 31
Shr loss three cts vs profit 10 cts
Net loss 58,285 vs profit 182,039
Sales 3,857,122 vs 3,188,555
Avg shrs 2,108,080 vs 1,891,250
|
test/19796 | test/19796 |@title seton:1 sel:1 director:1 approve:1 merger:1 agreement:1 |@word seton:5 co:2 say:3 board:2 director:2 unanimously:2 approve:2 agreement:2 plan:2 merger:5 provide:2 unit:2 acquisition:2 corp:2 new:1 jersey:1 company:1 meeting:1 hold:2 today:1 share:2 common:1 stock:1 convert:1 upon:1 right:1 receive:1 15:1 88:1 dlrs:1 per:1 cash:1 | SETON <SEL> DIRECTORS APPROVE MERGER AGREEMENT
Seton Co said its board of
directors unanimously approved an agreement and plan of merger
providing for the merger of Seton with a unit of S Acquisition
Corp, a New Jersey company.
Seton said its board of directors unanimously approved the
merger in a meeting held today.
Seton said the agreement and plan of merger provides that
all shares of Seton Co common stock not held by S Acquisition
Corp, or its units, will be converted upon the merger into the
right to receive 15.88 dlrs per share in cash.
|
test/19799 | test/19799 |@title di:1 giorgio:1 dig:1 evaluate:1 gabelli:1 offer:1 |@word di:2 giorgio:2 corp:1 say:2 plan:2 respond:1 unsolicited:1 recapitalization:1 propose:2 gabelli:3 co:1 inc:2 company:3 board:1 investment:1 banker:1 evaluate:1 proposal:2 earlier:1 filing:1 securities:1 exchange:1 commission:1 hold:1 28:1 5:1 pct:1 stake:1 digiorgio:1 together:1 gamco:1 investors:1 may:1 seek:1 control:1 addition:1 june:2 25:2 group:1 acquire:1 common:2 share:3 combination:1 20:1 dlrs:2 per:1 cash:1 subordinated:1 note:1 face:1 value:1 eight:1 one:1 post:1 buyout:2 remain:1 open:1 july:1 17:1 | DI GIORGIO <DIG> TO EVALUATE GABELLI 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.
|
test/19802 | test/19802 |@title gunnar:1 gold:1 ggg:1 venture:1 agreement:1 |@word gunnar:2 gold:5 inc:3 say:3 mill:2 city:2 sign:1 option:2 joint:2 venture:2 agreement:1 tyranex:2 tyranite:2 property:1 ontario:1 earn:1 50:1 pct:1 interest:1 buy:1 mine:2 spend:1 five:1 mln:1 dlrs:1 exploration:1 development:1 feasibility:1 study:1 1990:1 company:1 may:1 form:1 partnership:1 bring:1 full:1 commercial:1 production:1 | GUNNAR GOLD (GGG.TO) IN VENTURE AGREEMENT
Gunnar Gold Inc said it and Mill City
Gold Inc signed an option and joint venture agreement with
Tyranex Gold Inc on the Tyranite gold property in Ontario.
Gunnar said it and Mill City can earn a 50 pct interest in
Tyranex's option to buy the Tyranite gold mine by spending up
to five mln dlrs on exploration, development, and feasibility
studies by 1990.
It said the companies may form a joint venture partnership
to bring the mine to full commercial production.
|
test/19803 | test/19803 |@title data:1 architects:1 inc:1 dai:1 2nd:1 qtr:1 may:1 31:1 net:1 |@word shr:2 19:1 ct:4 vs:6 16:2 net:2 502:1 000:6 401:1 rev:1 8:1 791:1 6:1 650:1 six:1 mth:1 38:1 29:1 989:1 745:1 revs:1 3:1 mln:2 12:1 5:1 | DATA ARCHITECTS INC <DAI> 2ND QTR MAY 31 NET
Shr 19 cts vs 16 cts
Net 502,000 vs 401,000
Revs 8,791,000 vs 6,650,000
Six mths
Shr 38 cts vs 29 cts
Net 989,000 vs 745,000
Revs 16.3 mln vs 12.5 mln
|
test/19807 | test/19807 |@title dauster:1 say:1 consumer:1 keep:1 quota:1 |@word consumer:3 country:3 intervene:1 distribution:4 coffee:5 export:2 quota:4 brazilian:1 institute:1 president:1 jorio:1 dauster:3 say:3 hand:2 producer:3 traditional:1 delegate:1 recent:1 symposium:1 tell:1 journalist:1 want:1 get:1 involved:1 talk:1 much:1 difficult:1 main:2 united:1 states:1 brazil:2 fail:1 reach:1 agreement:1 international:1 organisation:1 ico:2 meet:2 february:1 role:1 london:1 september:1 support:1 world:1 pact:1 defend:1 market:1 share:1 argue:1 sacrifice:1 great:1 deal:1 already:1 year:1 crop:1 35:1 mln:1 bag:1 economic:1 problem:1 position:1 favour:1 | DAUSTER SAYS CONSUMERS SHOULD KEEP OUT OF QUOTAS
Consumer countries should not
intervene in the distribution of coffee export quotas,
Brazilian Coffee Institute president Jorio Dauster said.
'Distribution of export quotas should be in the hands of
producers as has been traditional,' Dauster, a delegate at the
recent coffee symposium here, told journalists. 'When consumers
want to get involved, talks are much more difficult.'
The main consumer country the United States and main
producer Brazil failed to reach agreement on quota distribution
when the International Coffee Organisation (ICO) met in
February.
Dauster said Brazil's role when the ICO meets in London in
September will be to support the world coffee pact, defend its
market share and argue for distribution of quotas to be in the
hands of producer countries.
'We have sacrificed a great deal already,' he said. 'this year
we have a crop of 35 mln bags, we have economic problems and we
are not in a position to do favours.'
|
test/19808 | test/19808 |@title gunnar:1 gold:1 venture:1 agreement:1 |@word gunnar:2 gold:5 inc:3 say:3 mill:2 city:2 sign:1 option:2 joint:2 venture:2 agreement:1 tyranex:2 tyranite:2 property:1 ontario:1 earn:1 50:1 pct:1 interest:1 buy:1 mine:2 spend:1 five:1 mln:1 dlrs:1 exploration:1 development:1 feasibility:1 study:1 1990:1 company:1 may:1 form:1 partnership:1 bring:1 full:1 commercial:1 production:1 | GUNNAR GOLD IN VENTURE AGREEMENT
Gunnar Gold Inc said it and Mill City
Gold Inc signed an option and joint venture agreement with
Tyranex Gold Inc on the Tyranite gold property in Ontario.
Gunnar said it and Mill City can earn a 50 pct interest in
Tyranex's option to buy the Tyranite gold mine by spending up
to five mln dlrs on exploration, development, and feasibility
studies by 1990.
It said the companies may form a joint venture partnership
to bring the mine to full commercial production.
|
test/19810 | test/19810 |@title british:1 petroleum:1 complete:1 standard:1 oil:1 merger:1 |@word british:1 petroleum:1 company:1 plc:1 bp:8 l:1 complete:1 merger:1 standard:2 oil:1 co:1 u:1 srd:1 raise:2 holding:1 100:1 pct:5 55:2 say:2 statement:1 acquisition:1 make:1 wholly:1 subsidiary:1 america:2 inc:1 take:1 25:1 stake:2 1970:1 53:1 1978:1 1984:1 chairman:3 sir:1 peter:1 walters:1 robert:1 horton:1 vice:1 chief:1 executive:1 officer:1 frank:1 mosier:1 president:1 detail:1 would:1 release:1 july:1 21:1 | BRITISH PETROLEUM COMPLETES STANDARD OIL MERGER
British Petroleum Company PlC <BP.L> has
completed its merger with Standard Oil Co of the U.S. <SRD>,
raising its holding to 100 pct from 55 pct, BP said in a
statement.
The acquisition was made through BP's wholly-owned
subsidiary <BP America Inc>. BP took a 25 pct stake in Standard
in 1970, raising its stake to 53 pct in 1978 and 55 pct in
1984.
BP chairman Sir Peter Walters will be chairman of BP
America, while Robert Horton is to be vice-chairman and chief
executive officer, with Frank Mosier as president.
BP said further details would be released on July 21.
|
test/19812 | test/19812 |@title thor:1 energy:1 resource:1 thr:1 year:1 jan:1 31:1 loss:1 |@word shr:1 loss:4 four:1 ct:2 vs:3 seven:1 net:1 267:1 000:4 445:1 revs:1 6:1 407:1 7:1 428:1 note:1 full:1 name:1 thor:1 energy:1 resources:1 inc:1 | THOR ENERGY RESOURCES <THR> YEAR JAN 31 LOSS
Shr loss four cts vs loss seven cts
Net loss 267,000 vs loss 445,000
Revs 6,407,000 vs 7,428,000
NOTE: Full name is Thor Energy Resources Inc
|
test/19815 | test/19815 |@title hei:1 corp:1 heic:1 4th:1 qtr:1 march:1 31:1 loss:1 |@word oper:4 shr:2 loss:5 13:1 ct:4 vs:8 profit:5 three:1 net:2 644:1 000:6 184:1 rev:2 24:1 9:1 mln:6 22:1 1:2 year:3 nine:1 21:1 429:1 123:1 90:1 8:1 86:1 5:1 note:1 revenue:2 exclude:2 medical:1 publishing:1 retail:1 operation:2 company:1 decide:1 dispose:1 fourth:1 quarter:1 fiscal:1 17:1 3:1 dlrs:4 14:1 4:1 operating:1 result:1 discontinue:1 364:1 313:1 | HEI CORP <HEIC.O> 4TH QTR MARCH 31 LOSS
Oper shr loss 13 cts vs profit three cts
Oper net loss 644,000 vs profit 184,000
Revs 24.9 mln vs 22.1 mln
Year
Oper shr loss nine cts vs profit 21 cts
Oper net loss 429,000 vs profit 1,123,000
Revs 90.8 mln vs 86.5 mln
NOTE: Revenues exclude medical publishing and retail
operations the company decided to dispose of during the fourth
quarter which had fiscal year revenues of 17.3 mln dlrs vs 14.4
mln dlrs.
Operating results exclude discontinued operations which had
year loss of 364,000 dlrs vs profit 313,000 dlrs.
|
test/19821 | test/19821 |@title u:2 export:2 inspection:2 thous:2 bushel:2 soybean:2 8:2 392:2 wheat:2 33:4 641:2 corn:2 728:2 |@word | U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS,
SOYBEANS 8,392 WHEAT 33,641 CORN 33,728
U.S. EXPORT INSPECTIONS, IN THOUS BUSHELS,
SOYBEANS 8,392 WHEAT 33,641 CORN 33,728
|
test/19823 | test/19823 |@title rte:3 buy:1 emhart:1 emh:1 asset:1 |@word corp:2 say:1 complete:1 purchase:1 u:1 aluminum:1 electrolytic:1 capacitor:1 business:1 related:1 asset:1 emhart:1 undisclosed:1 term:1 | RTE <RTE> BUYS SOME EMHART <EMH> ASSETS
RTE Corp said it completed the
purchase of the U.S. aluminum electrolytic capacitor business
and related assets of Emhart Corp, for undisclosed terms.
|
test/19826 | test/19826 |@title rochester:1 rtc:1 acquire:1 canton:1 telephone:1 co:1 |@word rochester:2 telephone:4 corp:1 say:2 complete:1 acquisition:2 canton:2 co:1 operate:1 company:1 term:1 disclose:1 serve:1 2:1 900:1 access:1 line:1 northwestern:1 pennsylvania:1 1986:1 operating:1 revenue:1 1:1 300:1 000:1 dlrs:1 | ROCHESTER <RTC> ACQUIRES <CANTON TELEPHONE CO>
Rochester Telephone Corp said it
completed the acquisition of Canton Telephone Co and is now
operating the company.
Terms of the acquisition were not disclosed.
Canton Telephone serves about 2,900 access lines in
northwestern Pennsylvania and had 1986 operating revenues of
about 1,300,000 dlrs, Rochester Telephone said.
|
test/19828 | test/19828 |@title san:1 francisco:1 region:1 hurt:1 restructure:1 |@word corporate:7 merger:2 acquisition:2 around:1 san:5 francisco:5 past:1 seven:1 year:1 modest:1 effect:2 metropolitan:2 area:6 economy:1 lead:1 business:4 back:1 organization:1 say:8 bay:2 council:3 group:1 300:1 firm:3 study:4 restructuring:4 nine:1 county:1 find:1 suffer:1 ill:1 shake:1 surround:1 community:1 seventeen:1 32:1 fortune:3 500:3 company:4 leave:1 due:2 1979:1 1986:1 another:1 21:1 add:2 list:2 ten:1 depart:1 base:1 period:4 six:1 locate:2 city:1 achieve:1 status:1 ted:1 hall:2 director:2 local:2 manage:1 mckinsey:1 co:1 conduct:1 survey:1 grow:2 concern:1 seriously:1 hurt:1 economic:1 climate:1 northern:1 california:2 however:1 36:1 000:2 job:3 lose:2 region:3 600:1 new:1 create:1 time:1 experience:1 great:2 rise:1 per:1 capita:1 income:1 low:1 unemployment:1 rest:1 united:1 states:1 president:1 george:1 keller:1 also:1 chairman:1 chief:2 executive:2 officer:1 chevron:2 corp:1 tell:1 news:1 conference:1 difficulty:1 persuade:1 fragmented:1 political:1 system:1 amenity:1 live:1 envy:1 many:1 place:2 run:2 hell:1 government:1 conclude:1 mergere:1 gulf:1 oil:1 1984:1 would:1 benefit:1 long:1 activity:2 among:1 headquarter:1 crown:1 zellerbach:1 memorex:1 southern:1 pacific:2 castle:1 amp:1 cooke:1 rolm:1 enough:1 make:1 include:1 apple:1 computer:2 telesis:1 mckesson:1 tandem:1 u:1 leasing:1 amfac:1 management:1 consulting:1 partly:1 rate:1 growth:1 slow:1 since:1 1980:1 addition:1 loss:1 leadership:1 adversely:1 affect:1 civic:1 charitable:1 | SAN FRANCISCO, NOT REGION, HURT BY RESTRUCTURING
Corporate mergers and acquisitions
in and around San Francisco over the past seven years have had
only a modest effect on the metropolitan area's economy, a
leading business-backed organization said.
The Bay Area Council, a group of more than 300 business
firms, said that a study of corporate restructuring in a
nine-county area found that San Francisco itself had suffered
some ill effects from corporate shake-ups but that surrounding
communities had not.
Seventeen of the 32 Fortune 500 companies in the area left
due to corporate restructuring between 1979 and 1986, but
another 21 firms were added to the list.
Ten of the departing companies were based in San Francisco.
During the period, only six located in the city achieved
Fortune 500 status.
Ted Hall, a council director and local managing director of
McKinsey and Co. which conducted the survey, said the study
grew out of concern that mergers and acquisitions had seriously
hurt the economic climate of northern California.
However, Hall said that only about 36,000 jobs had been
lost in the region, while more than 600,000 new jobs were
created during the period.
At the same time, he said, the region experienced a greater
rise in per capita income and lower unemployment than the rest
of the United States and California.
Council President George Keller, who also is chairman and
chief executive officer of Chevron Corp., told a news
conference that the region had difficulties in persuading
companies to locate there because of a fragmented local
political system.
But he said that because of the amenities of living in San
Francisco, he was the envy of many chief executives in other
metropolitan area.
'It's a great place to run a business,' he added, 'but it's
a hell of a place to do business with government.'
The study concluded that Chevron, which mergered with Gulf
Oil in 1984, would benefit in the long run from the
restructuring activity.
Among the corporate headquarters lost during the period
were Crown Zellerbach, Memorex, Southern Pacific, Castle &
Cooke and Rolm.
Companies that grew enough during the period to make the
Fortune 500 list included Apple Computer, Pacific Telesis,
McKesson, Tandem Computer, U.S. Leasing and Amfac.
The study by the management consulting firm said that,
partly due to corporate restructuring, the rate of job growth
in San Francisco has slowed since 1980.
In addition, it said that the loss of corporate leadership
had adversely affected some of the Bay Area's civic and
charitable activities.
|
test/19830 | test/19830 |@title wtc:1 shareholder:1 approve:1 pittston:1 pco:1 buyout:1 |@word pittston:4 co:1 say:2 wtc:3 international:2 n:1 v:1 shareholder:1 approve:1 acquisition:1 company:1 term:1 transaction:1 call:1 exchange:1 0:1 523:1 common:1 share:2 outstanding:1 engage:1 domestic:1 air:1 freight:2 ocean:1 surface:1 forwarding:1 consolidation:1 distribution:1 service:1 | WTC SHAREHOLDERS APPROVE PITTSTON <PCO> BUYOUT
Pittston Co said WTC
International N.V. shareholders approved the acquisition of the
company by Pittston.
Terms of the transaction call for Pittston to exchange
0.523 of its own common shares for each outstanding WTC share,
Pittston said.
WTC is engaged in domestic international air freight, ocean
and surface freight forwarding and consolidation and
distribution services.
|
test/19831 | test/19831 |@title home:1 federal:1 hfbf:1 set:1 shareholder:1 meeting:1 |@word home:7 federal:7 bank:5 florida:1 f:1 b:1 hfbf:1 say:4 schedule:1 special:1 shareholder:1 meetng:1 july:1 26:3 approve:2 propose:1 change:1 charter:1 merge:1 barnett:4 inc:1 pinellas:1 county:1 n:1 meeting:2 definitive:1 agreement:1 sign:1 may:1 call:1 share:4 common:2 stock:3 exchange:3 40:2 dlrs:3 market:2 value:2 would:2 base:1 conversion:1 less:1 1:2 935:1 200:1 total:1 transaction:1 175:1 mln:1 notice:1 related:1 proxy:1 material:1 file:1 previously:1 securities:1 commission:1 loan:1 board:1 mail:1 june:2 holder:1 record:1 15:1 | HOME FEDERAL <HFBF.O> SETS SHAREHOLDER MEETING
Home Federal Bank of
Florida F.S.B. <HFBF.O> said it has scheduled a special
shareholders meetng for July 26 to approve proposed changes to
the bank's charter and merge with Barnett Bank Inc's Barnett
Bank of Pinellas County, N.A.
Home Federal said the meeting is to approve a definitive
agreement signed May 26, calling for each share of Home
Federal's common stock to be exchanged for about 40 dlrs in
market value of Barnett common stock. The exchange would be
based on conversion of Home Federal shares of not less than
1.935 or more than 1.200 shares of Barnett stocks.
At 40 dlrs a share, Home Federal said the total market
value of the transaction would be about 175 mln dlrs.
Home Federal said notice of the meeting and related proxy
materials, which has been filed previously with the Securities
and Exchange Commission and the Federal Home Loan Bank board,
were mailed on June 26, to holders of record on June 15.
|
test/19832 | test/19832 |@title chevron:1 n:1 sea:1 find:1 may:1 hold:1 300:1 mln:1 bbls:1 analyst:1 |@word north:2 sea:2 oil:10 find:2 announce:1 chevron:5 corp:1 chv:1 exploration:1 ltd:6 may:1 indicate:1 new:1 field:7 recoverable:1 crude:4 reserve:4 300:2 mln:3 barrel:5 industry:2 analyst:5 say:9 sidetrack:2 well:5 block:2 16:2 26:1 u:2 k:2 continental:1 shelf:1 test:2 9:1 000:1 per:1 day:1 bpd:1 20:2 api:1 tertiary:1 alba:2 sand:1 three:1 inch:1 surface:1 choke:1 estimate:3 amount:1 around:3 320:1 paul:1 spedde:1 stockbroker:2 kleinwort:1 grieveson:1 co:2 tell:2 reuters:2 put:1 total:1 one:1 billion:1 give:1 low:3 gravity:3 recovery:3 rate:1 would:4 expect:1 25:1 pct:1 result:1 encouraging:1 potential:1 difficulty:1 operate:2 recover:2 show:2 fact:1 first:1 plug:1 drill:1 seem:3 shallow:1 widespread:1 require:2 multi:1 platform:1 development:2 pushing:1 cost:2 christopher:1 osborne:2 hoare:1 govett:1 although:2 additional:1 flow:2 quite:1 could:1 carol:1 bell:1 phillips:2 draw:1 however:1 official:1 decline:1 comment:1 without:1 research:1 drilling:1 area:1 summer:1 disclose:1 figure:1 declare:1 commercial:1 develop:1 ready:1 local:1 market:1 heavy:3 produce:1 refinery:1 upgrade:1 refine:1 price:1 differential:1 light:1 lot:1 narrow:1 today:1 behalf:1 company:1 include:1 british:1 petroleum:2 dsm:1 hydrocarbon:1 uk:1 enterprise:1 tns:1 marathon:1 int:1 pet:1 gb:1 | CHEVRON N.SEA FIND MAY HOLD 300 MLN BBLS -ANALYSTS
A North Sea oil find announced by Chevron
Corp's <CHV> Chevron Exploration North Sea Ltd may indicate a
new field with recoverable crude oil reserves of 300 mln
barrels, industry analysts said.
Chevron said a sidetrack well on block 16/26 on the U.K.
Continental shelf tested 9,000 barrels per day (bpd) of 20 API
crude oil from the tertiary 'Alba' sand through a three-inch
surface choke.
'The estimated amount of oil at the Alba field is around 320
mln barrels,' Paul Spedding of stockbroker Kleinwort Grieveson
and Co told Reuters.
He said industry estimates put the total reserves at the
field at over one billion barrels, but given the low gravity of
oil, the recovery rate would be expected to be around 20-25
pct.
Analysts said the results were encouraging, but the
potential difficulty of operating and recovering oil in the
field was shown by the fact that the first well had to be
plugged and a sidetrack drilled.
'The field seems to be shallow and widespread, which will
require a multi-platform development in recovery, pushing costs
up,' Christopher Osborne of stockbroker Hoare Govett said.
Most analysts said that although the low gravity of the oil
found would require additional costs in recovery, the test well
showed that it flows well.
'Although the gravity of oil at the field seems to be low,
it seems to flow quite well and around 300 mln barrels could be
recovered,' Carol Bell of Phillips and Drew told Reuters.
However, Chevron officials declined to comment on the
analysts' reserve estimates. They said that without further
research and drilling in the area this summer, they would not
disclose any reserve figures.
Analysts said that if the field were declared commercial
and developed, there would be a ready local market for the
heavy crude it produced.
'Most refineries are now upgraded to refine heavy oils and
the price differentials between heavy and light crudes are a
lot narrower today,' Osborne said.
Chevron operates the block on behalf of 16 companies which
include British Petroleum Development Ltd, DSM Hydrocarbons
(UK) Ltd, Enterprise Oil (TNS) Ltd, Marathon Int. Pet. (GB) Ltd
and Phillips Petroleum Co U.K. Ltd.
|
test/19833 | test/19833 |@title arden:1 group:1 ardna:1 plan:1 issuer:1 tender:1 |@word arden:2 group:2 inc:1 say:5 file:1 registration:1 statement:1 securities:1 exchange:3 commission:1 cover:1 two:1 issuer:1 tender:1 offer:4 one:4 direct:1 class:3 common:3 stock:3 holder:3 another:1 8:2 1:5 4:2 pct:4 debenture:4 due:3 march:1 1989:1 plan:2 call:1 company:2 either:1 30:1 dlrs:2 cash:2 35:1 principal:3 amount:3 13:2 subordinate:1 september:2 1997:2 share:2 new:1 b:1 hold:1 also:1 payment:1 subject:1 proration:1 addition:1 dlr:2 outstanding:1 | ARDEN GROUP <ARDNA.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 outstanding one dlr principal amount of 8-1/4 pct
debentures.
|
test/19835 | test/19835 |@title pakistan:1 allow:1 private:1 cotton:1 rice:1 export:1 |@word pakistani:1 government:1 allow:3 private:2 sector:2 export:3 cotton:5 rice:3 new:1 trade:1 policy:1 announce:1 cover:1 next:1 three:1 year:1 commerce:1 planning:1 minister:1 mahbubul:1 haq:2 say:4 televise:1 speech:1 also:1 decide:1 duty:2 free:2 import:2 yarn:4 pakistan:1 main:1 handle:1 exclusively:1 state:2 corporation:2 since:1 early:1 1970:1 would:2 along:1 make:1 high:1 quality:1 available:1 local:1 ancillary:1 industry:1 enable:1 compete:1 effectively:1 world:1 market:1 help:1 overcome:1 domestic:1 shortage:1 | PAKISTAN ALLOWS PRIVATE COTTON, RICE EXPORTS
The Pakistani government allowed the
private sector to export cotton and rice in a new trade policy
announced to cover the next three years.
Commerce and Planning Minister Mahbubul Haq said in a
televised speech it was also decided to allow duty-free import
of cotton yarn.
Cotton and rice are Pakistan's main exports, which have
been handled exclusively by state corporations since early
1970s. Haq said now the private sector would export cotton and
rice along with the state corporations.
He said duty-free import of cotton yarn was allowed to make
high quality yarn available to local ancillary industries and
to enable them to compete effectively in the world market. This
would help overcome domestic shortages of yarn, he said.
|
test/19837 | test/19837 |@title lomas:1 lnk:1 shareholder:1 approve:1 acquisition:1 |@word lomas:2 nettleton:1 financial:1 corp:4 say:2 shareholder:1 approve:1 special:1 meeting:1 company:3 acquisition:2 equitable:4 life:3 leasing:2 263:1 3:1 mln:4 dlrs:2 subsidiary:1 investment:1 assurance:1 co:1 u:1 acquistion:1 price:1 consist:1 one:1 cash:1 1:1 5:1 share:2 common:1 stock:2 71:1 000:1 new:1 series:1 c:1 prefer:1 8:1 944:1 principal:1 amount:1 nine:1 pct:1 senior:1 note:1 due:1 1994:1 add:1 close:1 june:1 30:1 | LOMAS <LNK> SHAREHOLDERS APPROVE ACQUISITION
Lomas and Nettleton Financial Corp said
its shareholders approved at a special meeting the company's
acquisition of Equitable Life Leasing Corp for 263.3 mln dlrs.
Equitable Life Leasing Corp is a subsidiary of Equitable
Investment Corp, which is owned by the Equitable Life Assurance
Co of U.S.
Lomas said the acquistion price will consist of one mln in
cash, 1.5 mln shares of the company's common stock, 71,000
shares of a new series C preferred stock, and 8.944 mln dlrs
principal amount of nine pct senior notes due 1994.
The company added that the acquisition will close June 30.
|
test/19839 | test/19839 |@title almi:2 group:1 acquire:1 interest:1 clearview:1 baking:1 |@word group:2 l:1 p:1 say:2 co:1 chairman:2 michael:2 landes:1 albert:1 schwartz:1 vice:1 spiegler:1 acquire:1 50:2 pct:2 equity:1 interest:2 clearview:2 baking:1 corp:1 undisclosed:1 term:1 dale:1 mayo:1 president:1 chief:1 executive:1 officer:1 retain:1 company:1 almi:1 | ALMI GROUP ACQUIRES INTEREST IN CLEARVIEW BAKING
<ALMI Group L.P.> said its
co-chairmen, Michael Landes and Albert Schwartz, and its vice
chairman, Michael Spiegler, have acquired a 50 pct equity
interest in <Clearview Baking Corp> for undisclosed terms.
A. Dale Mayo, Clearview's president and chief executive
officer, will retain a 50 pct interest in the company, ALMI
Group said.
|
test/19844 | test/19844 |@title ecuador:1 produce:1 opec:1 quota:1 minister:1 |@word ecuador:4 produce:4 crude:4 oil:1 excess:1 221:2 000:8 bpd:6 opec:2 quota:4 second:1 half:1 year:2 energy:1 minister:2 fernando:1 santos:1 alvite:1 tell:1 news:1 conference:1 plan:1 280:1 august:1 rise:1 320:1 next:1 january:1 say:5 pay:1 product:2 lend:1 venezuela:2 nigeria:2 kuwait:2 compensate:1 unable:1 past:1 month:1 earthquake:1 damage:1 pipeline:1 sharply:1 cut:1 ecuadorean:2 production:3 march:2 may:1 santo:2 move:1 explain:1 fellow:1 member:1 last:1 week:1 meeting:1 vienna:1 increase:1 210:1 approve:1 understand:1 position:1 believe:1 remain:1 within:1 spirit:1 agreement:1 immediately:1 quake:1 250:1 260:1 144:1 export:1 loan:1 total:1 12:1 mln:2 barrel:2 four:1 | ECUADOR TO PRODUCE ABOVE OPEC QUOTA - MINISTER
Ecuador will produce crude oil in excess
of its 221,000-bpd OPEC quota during the second half of this
year, Energy Minister Fernando Santos Alvite told a news
conference.
Ecuador plans to produce 280,000 bpd in August, rising to
320,000 bpd next January, the minister said.
'We will be producing more than the quota to pay off the
crude and products we have been lent by Venezuela, Nigeria and
Kuwait and to compensate for the crude we have been unable to
produce during the past few months,' he said.
Earthquake damage to a pipeline sharply cut Ecuadorean
production from March to May this year.
Santos said the move had been explained to fellow OPEC
members during last week's meeting in Vienna, when an increase
in Ecuador's quota to 221,000 bpd from 210,000 was approved.
'They understood our position and we believe we remain
within the spirit of the (quota) agreement,' he said.
Immediately before the March quake Ecuadorean production
was 250,000-260,000 bpd, with 144,000 bpd exported.
While its production was down, Venezuela, Nigeria and
Kuwait loaned Ecuador a total 12 mln barrels of crude and four
mln barrels of products, Santos said.
|
test/19850 | test/19850 |@title laidlaw:1 transportation:1 ltd:1 ldmf:1 third:1 qtr:1 |@word shr:2 20:1 ct:4 vs:7 12:1 net:2 34:1 088:1 000:4 18:1 727:1 revs:2 340:1 4:1 mln:6 200:1 3:1 nine:1 mth:1 53:1 31:1 88:1 661:1 49:1 059:1 926:1 5:1 560:1 1:2 avg:1 shrs:1 151:1 137:1 0:1 | LAIDLAW TRANSPORTATION LTD (LDMF.O) THIRD QTR
Shr 20 cts vs 12 cts
Net 34,088,000 vs 18,727,000
Revs 340.4 mln vs 200.3 mln
Nine mths
Shr 53 cts vs 31 cts
Net 88,661,000 vs 49,059,000
Revs 926.5 mln vs 560.1 mln
Avg shrs 151.1 mln vs 137.0 mln
|
test/19854 | test/19854 |@title morrison:1 inc:1 morr:1 4th:1 qtr:1 may:1 30:1 net:1 |@word oper:4 shr:2 38:1 ct:5 vs:7 32:2 qtly:1 div:1 12:2 net:3 5:3 430:1 000:2 4:3 707:1 revs:2 169:1 1:4 mln:7 139:1 year:1 50:1 dlrs:3 21:1 19:1 602:1 524:1 note:1 1986:1 operate:1 period:1 exclude:1 loss:1 8:1 2:1 56:1 share:1 discontinue:1 operation:1 | MORRISON INC <MORR.O> 4TH QTR MAY 30 NET
Oper shr 38 cts vs 32 cts
Qtly div 12 cts vs 12 cts
Oper net 5,430,000 vs 4,707,000
Revs 169.1 mln vs 139.4 mln
Year
Oper shr 1.50 dlrs vs 1.32 dlrs
Oper net 21.5 mln vs 19.1 mln
Revs 602.5 mln vs 524.4 mln
NOTE: 1986 operating net in both periods excludes loss 8.2
mln dlrs, or 56 cts a share, from discontinued operations
|
test/19856 | test/19856 |@title wal:1 mart:1 wmt:1 complete:1 acquisition:1 |@word wal:2 mart:2 stores:1 inc:2 say:1 complete:1 acquisition:1 super:2 saver:2 warehouse:1 wholly:1 unit:1 | WAL-MART <WMT> COMPLETES ACQUISITION
Wal-Mart Stores Inc said it has
completed the acquisition of <Super Saver Warehouse Inc> and
Super Saver is now a wholly owned unit of Wal-Mart.
|
test/19860 | test/19860 |@title kraft:1 kra:1 complete:1 frostex:1 acquisition:1 |@word kraft:2 inc:2 say:2 complete:1 acquisition:1 frostex:1 foods:1 undisclosed:1 term:1 last:1 month:1 sign:1 letter:1 intent:1 acquire:1 austin:1 texas:1 base:1 foodservice:1 distributor:1 | KRAFT <KRA> COMPLETES FROSTEX ACQUISITION
Kraft Inc said it completed the
acquisition of Frostex Foods Inc for undisclosed terms.
Kraft said last month it had signed a letter of intent to
acquire the Austin, Texas-based foodservice distributor.
|
test/19862 | test/19862 |@title precision:1 target:1 marketing:1 ptmi:1 4th:1 qtr:1 net:1 |@word qtr:1 end:1 april:1 30:1 shr:2 profit:4 one:2 ct:6 vs:6 loss:4 three:2 net:2 146:1 000:10 203:1 revs:2 2:1 001:1 1:1 493:1 year:2 four:1 13:1 445:1 827:1 7:1 135:1 5:1 237:1 note:1 full:1 name:1 precision:1 target:1 marketing:1 inc:1 late:1 quarter:1 include:1 extraordinary:1 gain:1 214:1 dlrs:2 share:2 85:1 | PRECISION TARGET MARKETING <PTMI.O> 4TH QTR NET
Qtr ended April 30
Shr profit one ct vs loss three cts
Net profit 146,000 vs loss 203,000
Revs 2,001,000 vs 1,493,000
Year
Shr profit four cts vs loss 13 cts
Net profit 445,000 vs loss 827,000
Revs 7,135,000 vs 5,237,000
NOTE: Full name is Precision Target Marketing Inc. Latest
year and quarter includes extraordinary gains of 214,000 dlrs,
or three cts a share, and 85,000 dlrs, or one ct a share.
|
test/19864 | test/19864 |@title rte:3 corp:2 buy:1 emhart:1 unit:1 |@word corp:2 say:3 complete:1 purchase:1 emhart:2 united:1 states:1 aluminum:1 electrolytic:1 capacitor:2 business:2 undisclosed:1 sum:1 company:2 part:1 electrical:1 electronic:1 group:1 market:1 mallory:1 brand:1 name:1 product:1 line:1 acquire:1 sale:1 25:1 mln:1 dlrs:1 last:1 year:1 | RTE CORP <RTE> BUYS EMHART CORP UNIT
RTE Corp said it completed the
purchase of Emhart Corp's United States aluminum electrolytic
capacitor business for an undisclosed sum.
The company said the capacitor business is part of Emhart's
electrical and electronic group marketed under the Mallory
brand name.
The company said the product lines it acquired had sales of
25 mln dlrs last year.
|
test/19865 | test/19865 |@title seven:1 oaks:1 international:1 inc:1 qpon:1 year:1 net:1 |@word periods:1 end:1 april:1 30:1 shr:1 83:1 ct:2 vs:4 94:1 net:1 5:1 583:1 000:4 8:2 403:1 revs:1 28:1 mln:2 29:1 4:1 avg:1 shrs:1 6:2 754:1 802:1 | SEVEN OAKS INTERNATIONAL INC <QPON.O> YEAR NET
Periods ended April 30
Shr 83 cts vs 94 cts
net 5,583,000 vs 8,403,000
Revs 28.8 mln vs 29.4 mln
Avg shrs 6,754,000 vs 6,802,000
|
test/19866 | test/19866 |@title united:1 medical:1 corp:1 um:1 sell:1 unit:1 |@word united:1 medical:1 corp:1 say:4 sell:1 trotter:2 treadmills:1 inc:1 unit:1 company:1 sale:2 line:1 strategy:1 refocus:1 health:1 care:1 service:1 business:1 receive:1 interest:1 several:1 party:1 agreement:1 yet:1 reach:1 treadmill:2 make:1 motorize:1 exercise:1 enthusiast:1 fitness:1 club:1 market:1 year:1 project:1 10:1 mln:1 dlrs:1 | UNITED MEDICAL CORP <UM> SELLS UNIT
United Medical Corp said it
will sell its Trotter Treadmills Inc unit.
The company said the sale is in line with its strategy of
refocusing on its health care service business. It said it had
received interest from several parties, but no agreement has
yet been reached.
Trotter Treadmills makes motorized treadmills for the
exercise enthusiast and fitness club market. It said its sales
for this year are projected to be over 10 mln dlrs.
|
test/19867 | test/19867 |@title franco:1 german:1 parley:1 fail:1 unblock:1 farm:1 talk:1 |@word specially:1 convene:1 franco:1 german:1 meeting:3 sideline:1 summit:3 ec:6 leader:1 fail:1 make:1 progress:1 1987:2 88:1 farm:6 price:3 package:3 deeply:1 split:1 two:1 former:1 ally:1 diplomat:2 say:2 attend:1 minister:4 foreign:1 country:1 french:2 president:1 francois:1 mitterand:1 prime:2 jacques:1 chirac:2 chancellor:1 helmut:1 kohl:1 west:2 germany:2 stalemate:1 see:1 key:1 provide:1 solution:1 long:2 term:1 settlement:1 community:1 worst:1 ever:2 budget:3 crisis:1 germans:1 clearly:1 want:1 budge:1 aide:1 tell:1 reporter:1 add:1 visibly:1 anger:1 hour:1 bonn:1 paris:2 diametrically:1 opposed:1 proposal:1 brussels:1 executive:1 commission:2 overhaul:1 radically:1 complex:1 green:1 currrency:1 system:2 design:1 translate:1 common:1 national:1 currencies:1 also:1 support:1 move:2 oil:1 fat:1 tax:1 along:1 britain:1 denmark:1 netherlands:1 minster:1 due:1 resume:1 negotiation:1 agree:1 april:1 1:1 deadline:1 tomorrow:1 hope:1 could:1 inject:1 fresh:1 impetus:1 talk:2 propose:1 save:1 one:1 billion:2 dollar:2 rise:1 dominate:1 lengthy:1 alter:1 entire:1 finance:1 12:1 nation:1 group:1 plug:1 5:1 7:1 shortfall:1 | FRANCO-GERMAN PARLEY FAILS TO UNBLOCK FARM TALKS
A specially convened Franco-German
meeting in the sidelines of a summit of EC leaders failed to
make any progress over a 1987-88 farm price package that has
deeply split the two former EC allies, diplomats said
The meeting was attended by farm ministers and foreign
ministers from both countries and by French President Francois
Mitterand, his Prime Minister Jacques Chirac, and by Chancellor
Helmut Kohl of West Germany.
The stalemate over farm prices is seen as a key to
providing a solution to a long-term settlement of the
Community's worst-ever budget crisis.
'The Germans clearly do not want to budge,' an aide to Chirac
told reporters. He added the French Prime Minister was visibly
angered as he the hour-long meeting.
Bonn and Paris are diametrically opposed to a proposal for
the Brussels Executive Commission to overhaul radically the
EC's complex 'green' currrency system, designed to translate
common EC farm prices into national currencies.
Paris also supports a move for an oils and fats tax which
West Germany is against, along with Britain, Denmark and the
Netherlands.
EC farm minsters are due to resume negotiations on the
package, which should have been agreed by an April 1 deadline
tomorrow.
Diplomats said it had been hoped that the summit could have
injected fresh impetus into those talks.
The Commission proposed its package to save one billion
dollars on the EC's ever-rising farm budget.
The summit has been dominated by lengthy talks on moves to
alter the entire system of financing the 12-nation group, and
plugging a 5.7 billion dollar budget shortfall for 1987.
|
test/19869 | test/19869 |@title venezuela:1 lower:1 exchange:1 rate:1 oil:1 earning:1 |@word venezuela:4 cabinet:2 approve:1 new:3 exchange:4 rate:3 oil:5 mining:1 export:1 earning:3 set:1 14:2 50:4 bolivar:6 dollar:3 7:2 previously:2 minister:1 manuel:1 azpur:3 ua:1 say:4 tell:1 reporter:1 meeting:1 measure:2 fundamental:1 conserve:1 economic:1 financial:1 strength:1 petroleum:1 industry:4 go:1 central:3 bank:3 final:1 approval:1 tommorrow:1 allow:1 state:1 company:1 petroleos:1 de:1 pdvsa:5 solve:1 problem:1 work:1 capital:1 implement:1 investment:1 plan:1 estimate:1 20:2 billion:5 1987:1 would:2 become:1 effective:1 sell:1 government:3 buy:1 foreign:2 import:1 promote:1 purchase:2 domestic:1 good:1 service:1 add:1 also:1 put:1 position:1 debt:1 bond:3 available:1 liquid:1 asset:1 start:1 year:2 nine:1 trust:1 fund:1 bcv:2 place:1 accord:1 contract:1 must:1 provide:1 cash:1 requrie:1 repurchase:1 contribution:1 treasury:1 last:1 44:1 480:1 petrochemcial:1 sale:1 8:1 023:1 dlrs:1 | VENEZUELA LOWERS EXCHANGE RATE FOR OIL EARNINGS
Venezuela's cabinet approved a new
exchange rate for oil and mining export earnings, setting it at
14.50 bolivars to the dollar from 7.50 bolivars previously,
Minister Manuel Azpur UA said.
Azpur told reporters after a cabinet meeting that the
measure is 'fundamental to conserving the economic and financial
strength of the petroleum industry.'
He said the new exchange rate, which goes before the
central bank for final approval tommorrow, will allow the state
oil company Petroleos De Venezuela, S.A.(PDVSA) to solve its
problem of working capital and implement investment plans,
estimated at 20 billion bolivars for 1987. He did not say when
the measure would become effective.
Venezuela's oil industry previously sold its dollar earnings
to the government at 7.50 to the dollar but bought foreign
exchange from its imports at 14.50 bolivars.
The new exchange rate will promote purchases of domestic
goods and services by the industry, Azpur said. He added that
it would also put PDVSA in a position to purchase more
government debt bonds.
PDVSA had available liquid assets of 20 billion bolivars at
the start of this year, of which nine billion were in a trust
fund in the Central Bank of Venezuela (BCV) and placed in
government bonds.
According to a contract between PDVSA and the central bank,
the BCV must provide cash as the oil industry requries by
repurchasing the bonds.
PDVSA's contribution to the treasury last year was 44.480
billion bolivars. It foreign earnings for oil and petrochemcial
sales were 8.023 billion dlrs.
|
test/19870 | test/19870 |@title cycare:1 systems:1 inc:1 cycr:1 buy:1 medtec:1 |@word cycare:1 systems:1 inc:1 say:3 buy:1 control:1 data:1 corp:1 cda:1 medtec:2 unit:1 undisclosed:1 sum:1 company:1 new:1 client:1 base:1 could:1 significant:1 impact:2 long:1 term:1 revenue:1 although:1 expect:1 minimal:1 positive:1 earning:1 next:1 six:1 month:1 asset:1 purchase:1 include:1 processing:1 agreement:1 software:2 maintenance:1 contract:1 support:1 | CYCARE SYSTEMS INC <CYCR> BUYS MEDTEC
CyCare Systems Inc said it bought
Control Data Corp's <CDA> MedTec unit for an undisclosed sum.
The company said MedTec'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.
|
test/19872 | test/19872 |@title bass:1 lead:1 group:1 8:1 9:1 pct:1 bell:1 |@word howell:2 co:2 stake:2 investment:2 bass:1 lead:1 group:1 8:1 9:1 pct:1 bell:1 | 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
|
test/19874 | test/19874 |@title mcchip:1 mcs:1 acquire:1 reserve:1 holding:1 |@word mcchip:1 resources:1 inc:1 say:2 agree:1 exchange:2 interest:1 oklahoma:1 oil:1 gas:1 property:1 operate:1 reserve:3 exploration:1 co:1 rexc:1 638:1 435:1 restrict:1 common:1 share:2 company:1 44:1 pct:1 stake:1 outstanding:1 result:1 | MCCHIP <MCS.TO> TO ACQUIRE RESERVE HOLDING
McChip Resources Inc said it has agreed
to exchange its interest in Oklahoma oil and gas properties
operated by Reserve Exploration Co <REXC.O> for 638,435
restricted Reserve common shares.
The company said it will have a 44 pct stake in Reserve's
outstanding shares as a result of the exchange.
|
test/19875 | test/19875 |@title interest:1 rate:1 hurt:1 u:1 may:1 housing:1 sale:1 |@word sale:10 new:10 single:3 family:3 home:9 tumble:1 14:1 9:2 pct:3 may:3 april:2 level:2 high:1 mortgage:2 interest:3 rate:6 analyst:1 say:12 another:2 month:2 two:1 weak:1 stabilize:2 become:1 stable:1 mid:1 summer:1 economist:6 lawrence:1 chimerine:2 wharton:2 econometrics:1 inc:1 drop:2 seasonally:1 adjust:1 annual:1 616:1 000:1 unit:1 large:1 since:1 january:1 1982:1 commerce:1 department:1 conventional:1 bottom:1 08:1 march:1 rise:2 10:1 7:1 accord:1 stephen:1 roach:1 morgan:1 stanley:1 effect:1 freeze:1 potential:1 homebuyer:2 market:2 move:1 suddenly:1 certainly:1 unexpected:1 cynthia:1 latta:2 datum:2 resource:2 startled:1 want:1 hold:1 back:1 see:1 would:1 happen:1 sharp:2 expect:2 fully:1 decline:1 extent:1 anticipate:1 james:1 christian:3 chief:2 u:2 league:2 savings:1 institution:2 existing:1 generally:1 less:2 expensive:1 strong:2 condominium:1 northeast:1 west:1 coast:1 reflect:1 exist:1 saving:1 underlie:1 housing:2 demand:1 remain:1 think:2 go:1 give:1 good:1 second:1 half:1 optimistic:1 however:1 clearly:1 win:2 boom:1 start:1 collapse:1 eugene:1 sherman:1 federal:1 loan:1 bank:1 york:1 low:1 maintain:1 awhile:1 change:1 much:1 specific:1 improvement:1 coming:1 | INTEREST RATES HURT U.S. MAY HOUSING SALES
Sales of new single-family homes
tumbled 14.9 pct in May from April levels because of higher
mortgage interest rates, analysts said.
'There should be another month or two of very weak new home
sales but with interest rates stabilizing, sale of new homes
should become more stable by mid-summer,' said economist
Lawrence Chimerine of Wharton Econometrics Inc.
The drop in May, to a seasonally adjusted annual rate of
616,000 units, was the largest since January 1982, the Commerce
Department said.
Interest rates on conventional mortgages bottomed out at
about 9.08 pct in March and rose to about 10.7 pct in April,
according to Stephen Roach, economist at Morgan Stanley.
The effect was to freeze some potential new homebuyers out
of the market, he and others said.
'The rates moved very suddenly and were certainly
unexpected by homebuyers,' said Cynthia Latta, an economist
with Data Resources. 'They were so startled, they wanted to
hold back and see what would happen.'
The drop in sales of new single-family home sales was
sharper than expected, some economists said. 'We fully expected
a decline but the extent was more than we anticipated,' said
James Christian, chief economist for the U.S. League of Savings
Institutions.
Christian said there was a sharp rise in May in sales of
existing homes, which are generally less expensive than new
homes.
Latta of Data Resources said strong sales of new
condominiums in the Northeast and on the West Coast were
reflected in sales of existing but not new homes.
Christian of the U.S. League of Savings Institutions said,
'Underlying housing demand remains strong. I think the market
is going to stabilize and give us a good second half.'
Others were less optimistic, however.
'We clearly won't have a boom (in new home sales) but I
don't think this is the start of a collapse in single-family
housing,' said Chimerine of Wharton.
Eugene Sherman, chief economist of the Federal Home Loan
Bank of New York, said, 'The lower sales level will be
maintained for awhile until there is another change in rates.
There won't be much specific improvement in coming months.'
|
test/19880 | test/19880 |@title bass:1 group:1 stake:1 bell:1 howell:1 bhw:1 |@word investor:1 group:3 lead:1 robert:1 bass:1 fort:1 worth:1 texas:1 say:3 786:1 800:1 share:4 bell:2 howell:2 co:1 common:3 stock:3 equal:1 8:1 9:1 pct:1 company:1 outstanding:1 filing:1 securities:1 exchange:1 commission:1 purchase:2 511:1 500:1 april:1 29:1 june:1 26:1 44:1 25:1 dlrs:2 56:1 02:1 acquire:1 investment:1 purpose:1 add:1 may:1 sell:1 additional:1 future:1 | BASS GROUP HAS STAKE IN BELL AND HOWELL <BHW>
An investor group led by Robert Bass
of Fort Worth, Texas said it owns 786,800 shares of Bell and
Howell Co common stock, equal to 8.9 pct of the company's
common stock outstanding.
In a filing with the Securities and Exchange Commission,
the group said it purchased 511,500 Bell and Howell common
shares between April 29 and June 26 at 44.25 dlrs to 56.02 dlrs
a share.
The stock was acquired for investment purposes, the group
said, adding it may purchase or sell additional shares in the
future.
|
test/19882 | test/19882 |@title u:1 reassert:1 plan:1 deterrent:1 role:1 gulf:1 |@word united:4 states:4 respond:1 apparent:1 escalation:1 iranian:5 rhetoric:2 continued:1 assurance:1 expand:1 military:1 force:1 gulf:5 would:1 play:1 purely:1 deterrent:2 role:2 emphasize:1 go:1 assure:1 safety:1 american:2 shipping:3 relate:1 war:4 state:1 department:1 spokesman:3 charles:1 redman:2 tell:2 reporter:1 ask:2 claim:1 move:2 towards:2 brink:2 armed:2 conflict:1 iran:2 tehran:1 radio:1 quote:1 defence:1 ali:1 akbar:1 hashemi:1 rafsanjani:1 visit:1 nicaraguan:1 delegation:1 yesterday:1 moment:1 encounter:1 concerned:1 believe:1 u:2 presence:1 make:2 nation:1 even:1 serious:1 determined:1 stand:1 firm:1 certainly:1 win:2 disclose:1 last:1 week:1 beef:1 fleet:1 seven:1 10:1 warship:1 also:1 send:1 refurbished:1 battleship:1 missouri:1 patrol:1 outside:1 strategic:1 strait:1 hormuz:1 entrance:1 buildup:1 tie:1 plan:1 escort:1 kuwaiti:1 oil:1 tanker:1 register:1 fly:1 flag:1 gain:1 naval:1 protection:1 attack:2 white:1 house:1 marlin:1 fitzwater:1 say:2 comment:1 response:1 statement:2 position:1 clear:1 status:1 event:1 want:1 end:1 winner:1 loser:1 activity:1 tend:1 prolong:1 increase:1 hostility:1 helpful:1 welcome:1 could:1 independently:1 confirm:1 report:1 offer:1 halt:1 | U.S. REASSERTS PLANS FOR DETERRENT ROLE IN GULF
The United States responded to an
apparent escalation of Iranian rhetoric with continued
assurances that its expanded military force in the Gulf would
play purely a deterrent role.
'I can only emphasize that our role there is deterrent, that
we're going to be assuring safety for American shipping and
that that shipping is not related to the war itself,' State
Department spokesman Charles Redman told reporters.
He was asked about Iranian claims that the United States
was moving towards the brink of armed conflict with Iran.
Tehran Radio quoted defence spokesman Ali Akbar Hashemi
Rafsanjani telling a visiting Nicaraguan delegation yesterday,
'At the moment the United States is moving towards the brink of
an armed encounter with us.
'We are not concerned about this and believe that the U.S.
Presence in the war will make our nation even more serious. We
are determined to stand firm and will certainly win.'
The United States disclosed last week it was beefing up its
Gulf fleet from seven to 10 warships and also sending the
refurbished battleship Missouri to patrol just outside the
strategic Strait of Hormuz, entrance to the Gulf.
The buildup ties in with U.S. Plans to escort Kuwaiti oil
tankers which have been re-registered to fly the American flag
and gain naval protection against Iranian attacks.
Asked about the Iranian rhetoric, White House spokesman
Marlin Fitzwater said, 'We won't have any comment or response to
the Iranian statements. Our position has been made clear about
the status of events in the Gulf. We want an end to the war
with no winners and no losers and any activities or statements
that tend to prolong the war or increase hostilities are not
helpful or welcome.'
Redman said he could not independently confirm reports that
Iran has offered to halt attacks on Gulf shipping.
|
test/19887 | test/19887 |@title hartmarx:1 corp:1 hmx:1 2nd:1 qtr:1 may:1 31:1 net:1 |@word shr:2 40:1 ct:4 vs:6 11:1 net:2 8:2 265:1 000:2 2:1 255:1 sale:2 248:1 3:1 mln:6 245:1 4:2 six:1 mth:1 94:1 51:1 19:1 10:1 6:1 531:1 535:1 | HARTMARX CORP <HMX> 2ND QTR MAY 31 NET
Shr 40 cts vs 11 cts
Net 8,265,000 vs 2,255,000
Sales 248.3 mln vs 245.4 mln
Six mths
Shr 94 cts vs 51 cts
Net 19.4 mln vs 10.6 mln
Sales 531 mln vs 535.8 mln
|
test/19890 | test/19890 |@title cxr:2 cxrl:1 torotel:1 trtl:1 settle:1 suit:1 |@word telcom:1 corp:1 torotel:4 inc:2 agree:1 principle:1 settle:1 pende:1 litigation:1 regard:1 sale:1 former:1 halcyon:1 communications:1 unit:1 cxr:5 march:1 1986:2 two:1 company:2 say:4 joint:1 statement:1 agreement:1 call:1 pay:2 1:2 350:1 000:2 dlrs:3 exchange:1 return:1 2:1 5:1 mln:5 dlr:2 note:1 five:1 common:1 share:1 value:1 7754:1 june:1 file:1 suit:2 san:1 francisco:1 federal:1 court:1 charge:1 10:1 3:1 price:1 halycon:1 excessive:1 also:1 ask:1 seven:1 damage:1 along:1 unspecified:1 punitive:1 award:1 | CXR <CXRL.O>,TOROTEL <TRTL.O> TO SETTLE SUIT
CXR Telcom Corp and Torotel
Inc agreed in principle to settle pending litigation regarding
the sale of Torotel'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 Torotel 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, Torotel said.
It also said that in is suit CXR asked for seven mln dlrs
in damages, along with an unspecified punitive award.
|
test/19892 | test/19892 |@title cablevision:1 systems:1 cvcc:1 buy:1 station:1 |@word cablevision:2 systems:1 corp:1 say:3 buy:1 cable:1 television:1 system:2 six:1 dutchess:2 county:2 n:1 community:1 associates:1 ltd:1 company:1 acquisition:1 new:2 add:2 presence:1 york:1 4:1 400:1 subsriber:1 568:1 000:1 subscriber:1 base:1 | CABLEVISION SYSTEMS <CVCC> BUYS STATIONS
Cablevision Systems Corp said it
bought cable television systems in six Dutchess County, N.Y.,
communities from Dutchess County Cablevision Associates Ltd.
The company said the acquisition of the new systems will
add to its presence in New York. It said it will add 4,400
subsribers to its 568,000 subscriber base.
|
test/19895 | test/19895 |@title austec:1 ail:1 complete:1 purchase:1 private:1 firm:1 |@word austec:3 international:2 ltd:1 say:2 north:1 american:1 unit:2 inc:1 complete:1 purchase:1 privately:1 hold:1 ryan:3 mcfarland:2 corp:1 undisclosed:1 sum:1 company:1 two:1 combine:1 expect:1 net:1 revenue:1 25:1 mln:1 dlrs:1 1987:1 mcfarlnad:1 develop:1 cobol:1 fortran:1 language:1 compiler:1 micro:1 mini:1 mainframe:1 computer:1 market:1 base:1 melbourne:1 australia:1 locate:1 rolling:1 hills:1 estate:1 calif:1 | AUSTEC <AIL.S> COMPLETE PURCHASE OF PRIVATE FIRM
Austec International Ltd said
its North American unit, Austec Inc, completed the purchase of
privately-held Ryan-McFarland Corp for an undisclosed sum.
The company said the two units combined are expected to
have net revenues of about 25 mln dlrs in 1987.
Ryan-McFarlnad develops COBOL and FORTRAN language
compilers for the micro, mini and mainframe computer markets.
Austec International is based in Melbourne, Australia.
Ryan-McFarland is located in Rolling Hills Estates, Calif.
|
test/19900 | test/19900 |@title tecsyn:2 international:2 terminate:2 takeover:2 talk:2 investor:2 group:2 |@word | TECSYN INTERNATIONAL TERMINATES TAKEOVER TALKS WITH
INVESTOR GROUP
TECSYN INTERNATIONAL TERMINATES TAKEOVER TALKS WITH
INVESTOR GROUP
|
test/19902 | test/19902 |@title campeau:1 say:1 part:1 sec:1 proceeding:1 |@word campeau:4 corp:2 say:2 involve:2 securities:1 exchange:1 commission:1 administrative:1 proceed:1 allied:2 stores:1 acquire:1 end:1 last:1 year:1 statement:1 company:1 sec:1 action:1 event:1 occur:1 prior:1 acquisition:1 relate:1 allege:1 failure:1 ally:1 make:1 certain:1 disclosure:1 consequently:1 subject:1 proceding:1 | CAMPEAU SAYS IT IS NOT PART OF SEC PROCEEDING
<Campeau Corp> said it is not involved
in the Securities and Exchange Commission's administrative
proceeding against Allied Stores Corp, which Campeau acquired
at the end of last year.
In a statement, the company said, 'The SEC action involves
events that occurred prior to Campeau's acquisition of Allied
relating to the alleged failure of Allied to make certain
disclosures. Consequently, Campeau is not subject to the
procedings.'
|
test/19903 | test/19903 |@title henley:1 heng:1 venezuelan:1 refinery:1 project:1 |@word henley:1 group:1 inc:1 w:1 kellogg:5 co:1 subsidiary:1 say:6 consortium:1 inelectra:2 receive:1 contract:1 corpoven:1 venezuelan:2 domestic:1 oil:1 company:1 revamp:1 expand:2 el:1 palito:1 refinery:3 instal:1 cost:1 work:1 perform:1 estimate:1 130:1 mln:1 dlrs:1 major:1 engineering:1 firm:1 kellog:1 project:1 enable:1 produce:1 btx:3 product:1 benzene:1 toluene:1 orthoxylene:1 process:2 naphtha:1 feed:1 reformer:2 hydrotreater:2 upgrade:1 9:1 500:2 barrel:1 day:1 capacity:1 7:1 new:1 unit:1 include:1 aromatic:2 extraction:1 xylene:2 fractionation:1 isomerization:1 thermal:1 hydrodealkylation:1 point:1 venezuela:1 import:1 | HENLEY <HENG.O> HAS VENEZUELAN REFINERY PROJECT
Henley Group Inc's M.W. Kellogg Co
subsidiary said it in consortium with <Inelectra> received a
contract from Corpoven S.A., a Venezuelan-owned domestic oil
company, to revamp and expand its El Palito Refinery.
Kellogg said the installed cost of the work to be performed
is estimated to be 130 mln dlrs. Inelectra, Kellogg said, is a
major Venezuelan engineering firm.
Kellog said the project will enable the refinery to produce
BTX products -- benzene, toluene, and orthoxylene -- by
processing naphtha feed from an expanded reformer-hydrotreater.
Kellogg said the refinery's reformer-hydrotreater will be
upgraded to 9,500 barrels a day capacity from 7,500.
It said the new BTX process units include aromatic
extraction, xylene fractionation, xylene isomerization and
thermal hydrodealkylation.
Kellogg pointed out that Venezuela now imports all of its
BTX aromatics.
|
test/19906 | test/19906 |@title fortune:1 system:1 fsys:1 approves:1 unit:1 sale:1 |@word fortune:3 systems:1 corp:2 say:2 shareholder:2 approve:1 sale:1 computer:1 hardware:1 business:1 sci:1 technologies:1 inc:2 transaction:1 expect:1 close:1 week:1 annual:1 meeting:1 also:1 vote:1 change:1 name:1 tigera:1 principal:1 subsidiary:1 tigeral:1 | FORTUNE SYSTEMS <FSYS.O> APPROVES UNIT SALE
Fortune Systems Corp said its
shareholders approved the sale of its computer hardware
business to SCI Technologies Inc.
The transaction is expected to close this week.
At its annual meeting, Fortune said shareholders also voted
to change Fortune's name to Tigera Inc. Its principal
subsidiary is Tigeral Corp.
|
test/19912 | test/19912 |@title tecsyn:1 tsna:1 terminate:1 takeover:1 talk:1 |@word tecsyn:4 international:1 inc:1 say:3 terminate:1 takeover:1 discussion:1 u:1 base:1 investor:2 group:4 unable:1 establish:1 access:1 fund:1 complete:1 propose:1 transaction:1 contrary:1 previous:1 assurance:1 previously:1 control:1 shareholder:1 accept:1 principle:1 proposal:1 offer:1 nine:1 dlrs:2 share:3 70:1 pct:1 outstanding:1 also:1 plan:1 invest:1 22:1 5:1 mln:2 private:1 placement:1 four:1 non:1 voting:1 common:1 company:1 | TECSYN <TSNA.TO> TERMINATES TAKEOVER TALKS
TecSyn International Inc
said it terminated takeover discussions with a U.S.-based
investors group after the group was unable to establish access
to funds to complete the proposed transactions, contrary to
previous assurances.
TecSyn previously said it and its controlling shareholders
accepted in principle a proposal from the group to offer nine
dlrs a share for 70 pct of TecSyn's outstanding shares.
The investor group also planned to invest 22.5 mln dlrs in
a private placement of four mln non-voting TecSyn common
shares, the company said.
|
test/19913 | test/19913 |@title goodyear:1 gt:1 sell:1 stake:1 toyobo:1 petcord:1 |@word goodyear:1 say:1 sell:1 50:1 pct:1 interest:1 toyobo:2 petcord:1 ltd:1 japan:1 partner:1 venture:1 co:1 | GOODYEAR <GT> TO SELL STAKE IN TOYOBO PETCORD
Goodyear said it is selling its 50
pct interest in Toyobo Petcord Ltd of Japan to its partner in
the venture, Toyobo Co.
|
test/19915 | test/19915 |@title washington:1 scientific:1 wsci:1 2nd:1 qtr:1 net:1 |@word shr:2 16:1 ct:4 vs:6 two:1 net:2 391:1 000:6 57:1 sale:2 7:2 917:1 255:1 six:1 mth:1 47:1 17:1 1:1 164:1 422:1 27:1 9:1 mln:2 24:1 3:1 note:1 full:1 company:1 name:1 washington:1 scientific:1 industries:1 inc:1 second:1 quarter:1 end:1 june:1 seven:1 | WASHINGTON SCIENTIFIC <WSCI.O> 2ND QTR NET
Shr 16 cts vs two cts
Net 391,000 vs 57,000
Sales 7,917,000 vs 7,255,000
Six mths
Shr 47 cts vs 17 cts
Net 1,164,000 vs 422,000
Sales 27.9 mln vs 24.3 mln
NOTE: Full company name is Washington Scientific Industries
Inc. Second quarter ended June seven.
|
test/19918 | test/19918 |@title israel:1 minister:1 see:1 increase:1 export:1 u:1 |@word israel:12 export:12 u:11 must:2 double:2 next:2 five:3 year:5 mideast:1 nation:3 goal:1 economic:4 independence:2 achieve:5 say:9 gad:1 yaacobi:6 israeli:3 minister:1 economy:1 communication:1 speak:1 american:2 chamber:1 commerce:1 seminar:1 1986:3 2:2 3:2 billion:6 dlrs:6 one:3 third:1 total:2 import:2 around:1 1:2 8:2 roughly:1 sixth:1 convinced:1 reach:1 learn:1 function:1 marketplace:1 place:1 great:1 emphasis:1 product:1 quality:1 weakening:1 dollar:1 vis:2 european:1 currency:1 bottleneck:1 increase:2 expect:1 extend:1 recent:1 trend:1 toward:1 high:1 last:3 ten:2 rise:2 fivefold:1 417:1 mln:2 888:1 growth:3 eleven:1 pct:1 annually:1 rate:1 1973:2 yom:1 kippur:1 war:1 free:1 trade:1 agreement:2 pass:1 eliminate:1 duty:1 commercial:1 restriction:1 two:1 1994:2 would:2 continue:1 facilitate:1 desire:1 dual:1 include:1 fta:1 allow:1 act:1 bridge:1 europe:2 enable:1 firm:1 low:1 cost:1 certain:1 percentage:1 produce:1 vice:1 versa:1 tension:1 among:1 middle:1 east:1 main:1 reason:1 yet:1 able:1 potential:2 since:1 give:1 25:1 aid:1 go:1 defense:1 expenditure:1 finance:1 military:1 conflict:1 impose:1 short:1 full:1 however:1 yaccobi:1 still:1 possible:1 1993:1 base:1 assumption:1 level:1 time:1 period:1 | ISRAEL MINISTER SEES INCREASED EXPORTS TO U.S.
Israel's exports to the U.S. can and
must double over the next five years if the mideast nation's
goal of economic independence is to be achieved, said Gad
Yaacobi, Israeli minister of Economy and Communication.
Speaking before an American-Israel Chamber of Commerce
seminar, Yaacobi said that in 1986 Israeli exports to the U.S.
were over 2.3 billion dlrs or about one-third of Israel's total
exports, while imports from the U.S. were around 1.8 billion
dlrs or roughly one-sixth of the total.
'I am convinced that Israel exports to the U.S. can reach
five billion dlrs in the next five years, if we learn to
function in the American marketplace and place greater emphasis
on product quality,' Yaacobi said.
While the weakening of the dollar vis-a-vis European
currencies is a 'bottleneck to increasing exports to the U.S.,'
Yaacobi said he expects Israel to extend its recent trend
toward higher U.S. exports.
In the last ten years, Israeli exports to the U.S. rose
fivefold, from 417 mln dlrs to 2.3 billion in 1986, while
imports rose from 888 mln dlrs to 1.8 billion last year.
Yaacobi said export growth must increase ten to eleven pct
annually, the rate achieved until the 1973 Yom Kippur War.
He said that the U.S./Israel Free Trade agreement, passed
last year and eliminating all duties and other commercial
restrictions between the two nations through 1994, would
continue to facilitate the desired export growth.
Dual agreements included in the FTA allow Israel to act as
an economic bridge between the U.S. and Europe, enabling U.S.
firms to export to Europe at lower cost if a certain percentage
of the exported is produced in Israel, and vice-versa.
Yaacobi said that tensions among the nations of the middle
east was one of the main reasons Israel had not yet been able
to achieve its economic potential.
Since 1973 the U.S. has given Israel 25 billion dlrs in
aid, but most of it went to defense expenditures and financing
military conflicts 'which were imposed on Israel,' he said.
Short of achieving Israel's full growth potential, however,
Yaccobi said it would still be possible to achieve economic
independence by 1993 or 1994, based on the assumption that
exports can be doubled from 1986 levels in that time period.
|
test/19921 | test/19921 |@title gencorp:2 inc:2 say:2 sell:2 general:2 tire:2 continental:2 gummi:2 650:2 mln:2 dlrs:2 |@word | GENCORP INC SAYS TO SELL GENERAL TIRE TO CONTINENTAL
GUMMI FOR 650 MLN DLRS
GENCORP INC SAYS TO SELL GENERAL TIRE TO CONTINENTAL
GUMMI FOR 650 MLN DLRS
|
test/19927 | test/19927 |@title venezuela:1 budget:1 see:1 16:1 35:1 dlrs:1 oil:1 price:1 |@word venezuela:2 government:1 tomorrow:1 present:1 1988:2 budget:2 proposal:1 183:1 432:1 billion:4 bolivar:2 base:2 upon:1 oil:5 price:2 16:3 35:2 dlrs:3 per:3 barrel:3 finance:2 minister:2 manuel:1 azpurua:2 say:2 tell:1 reporter:1 cabinet:1 meet:1 new:1 project:1 ordinary:1 income:2 149:1 925:1 extraordinary:1 34:1 186:1 revenue:2 expect:1 produce:1 92:1 014:1 61:1 pct:1 total:1 projection:1 average:2 venezuelan:1 first:1 half:1 1987:1 20:1 accord:1 state:1 company:1 petroleos:1 de:1 | VENEZUELA BUDGET SEES 16.35 DLRS OIL PRICE
Venezuela's government tomorrow presents
a 1988 budget proposal for 183.432 billion bolivars, based upon
an oil price of 16.35 dlrs per barrel, finance minister Manuel
Azpurua said.
Azpurua told reporters after a cabinet meeting the new
budget projects ordinary income of 149.925 billion bolivars and
extraordinary income of 34.186 billion. Oil revenues are
expected to produce 92.014 billion, or 61 pct of the total.
The finance minister said the oil revenue projection is
based on an average price of 16.35 dlrs per barrel in 1988.
Venezuelan oil through the first half of 1987 has averaged 16.
20 dlrs per barrel, according to the state oil company
Petroleos de Venezuela, S.A.
|
test/19930 | test/19930 |@title gencorp:1 gy:1 sell:1 general:1 tire:1 |@word gencorp:15 inc:4 continental:4 ag:1 hanover:1 west:1 germany:1 jointy:1 announce:2 sign:1 agreement:3 buy:1 general:10 tire:13 subsidiary:2 650:1 mln:7 dlrs:13 cash:1 company:5 say:8 acquire:1 include:3 relate:1 domestic:1 foreign:1 operation:4 retain:2 liability:2 medical:1 benefit:1 retire:2 employee:2 november:2 30:1 1984:1 sale:9 expect:2 complete:1 one:2 subject:1 meet:1 certain:1 condition:1 europe:1 second:1 large:1 producer:1 last:2 year:2 2:1 6:2 billion:6 1:6 9:1 generate:1 operate:2 profit:2 79:1 130:2 3:1 spokesman:1 rip:1 tilden:4 100:1 former:1 use:1 proceed:3 reduce:1 5:2 dlr:1 debt:1 april:1 sucessfully:1 thwart:1 takeover:1 partnership:1 form:1 afg:2 industries:1 wagner:1 brown:1 restructure:2 program:1 purchase:1 54:1 pct:1 12:1 share:2 common:1 total:1 part:1 restructuring:1 also:3 plan:2 sell:3 business:3 bottle:2 rko:5 remain:2 broadcast:1 property:1 focus:1 aerospace:1 automotive:1 component:1 realize:1 850:1 tax:2 end:1 1987:1 result:1 several:1 piece:2 nonbroadcast:1 asset:1 price:1 pay:1 would:1 cause:1 reevaluate:1 estimate:1 employ:1 10:1 000:1 people:1 worldwide:1 four:1 manufacturing:1 plant:1 u:1 canada:1 statemnet:1 william:1 reynolds:2 chairman:1 represent:1 critical:1 accomplishment:1 previously:1 satisfactorily:1 among:1 empire:1 agree:1 khj:1 tv:2 station:1 walt:1 disney:1 co:1 dis:1 217:1 deal:1 await:1 approval:1 federal:1 communications:1 commission:1 receive:1 257:1 wor:1 | GENCORP <GY> TO SELL GENERAL TIRE
Gencorp Inc and Continental AG of
Hanover, West Germany, jointy announced they signed an
agreement for Continental to buy Gencorp's General Tire Inc
subsidiary for 650 mln dlrs in cash.
Under the agreement the companies said Continental will
acquire General Tire, including its related domestic and
foreign operations, and Gencorp will retain liability for the
medical benefits of retired General Tire employees who retired
on or before November 30, 1984.
The sale is expected to be completed on or before November
one and is subject to meeting certain conditions.
Continental is Europe's second largest tire producer. Last
year, the company had sales of 2.6 billion dlrs, with 1.9
billion dlrs generated by its tire operations.
Last year, General Tire had operating profits of 79 mln
dlrs on sales of 1.1 billion dlrs, and Gencorp had operating
profits of 130 mln dlrs on sales of 3.1 billion dlrs.
GenCorp spokesman Rip Tilden said the company will retain
about 100 mln dlrs in liability for its former General Tire
employees under the agreement.
Tilden said Gencorp will use the proceeds from the sale to
reduce its 1.5 billion dlr debt.
In April, GenCorp sucessfully thwarted a takeover by a
partnership formed by AFG Industries Inc <AFG> and Wagner and
Brown with a restructuring program that included the purchase
of up to 54 pct, or 12.5 mln shares, of its common at 130 dlrs
a share for a total of 1.6 billion dlrs
As part of the restructuring, GenCorp also said it planned
to sell its tire business, the bottling operations of its RKO
General Inc subsidiary, and RKO's remaining broadcast
properties to focus on the company's aerospace and automotive
components businesses.
Tilden said Gencorp expects to realize about 850 mln dlrs
in after tax proceeds by the end of 1987 as a result of sale of
several pieces of the nonbroadcast assets of the company,
including general tire.
'The price paid for General tire would not cause us to
reevaluate that estimate,' said Tilden.
General Tire employs 10,000 people worldwide and has four
tire manufacturing plants in the U.S. and one in Canada.
In a statemnet, A. William Reynolds, GenCorp chairman said
the sale of General Tire 'represents a critical accomplishment
in our plan to restructure GenCorp.'
Reynolds also said GenCorp's previously announced sale of
its other businesses are 'proceeding satisfactorily.'
Among the pieces of Gencorp's empire that remain to be sold
are its RKO bottling operations. GenCorp agreed to sell RKO's
KHJ-TV station to Walt Disney Co <DIS> for
217 mln dlrs. That deal awaits approval by the Federal
Communications Commission. GenCorp also received 257 dlrs after
tax from the sale of RKO's WOR-TV.
|
test/19933 | test/19933 |@title advanced:1 institutional:1 aim:1 year:1 loss:1 |@word shr:1 loss:2 79:1 ct:2 vs:3 profit:2 30:1 net:1 2:1 1:2 mln:3 dlrs:4 675:1 935:1 rev:1 5:2 9:1 note:1 year:1 end:1 march:1 31:1 company:1 full:1 name:1 advance:1 institutional:1 management:1 software:1 inc:1 | ADVANCED INSTITUTIONAL <AIMS.O> YEAR LOSS
Shr loss 79 cts vs profit 30 cts
Net loss 2.1 mln dlrs vs profit 675,935 dlrs
Revs 5.5 mln dlrs vs 9.1 mln dlrs
Note:the year ended March 31. The company's full name is
Advanced Institutional Management Software Inc
|
test/19935 | test/19935 |@title kellwood:1 kwd:1 buy:1 three:1 company:1 |@word kellwood:2 co:1 say:3 sign:1 definitive:1 agreement:1 acquire:1 robert:1 scott:1 ltd:3 inc:2 david:1 brooks:1 andrew:1 harvey:1 dedham:1 mass:1 term:1 disclose:1 combine:1 sale:1 three:1 company:1 1986:1 50:1 mln:1 dlrs:1 deal:1 expect:1 complete:1 july:1 31:1 | KELLWOOD <KWD> BUYING THREE COMPANIES
Kellwood Co said it signed a
definitive agreement to acquire Robert Scott Ltd Inc, David
Brooks Ltd Inc and Andrew Harvey Ltd of Dedham, Mass.
Terms were not disclosed.
Combined sales of the three companies in 1986 were over 50
mln dlrs, it said. The deals are expected to be completed by
July 31, Kellwood said.
|
test/19939 | test/19939 |@title h:2 robins:2 say:2 rorer:2 group:2 merger:2 proposal:2 merit:2 consideration:2 |@word | A.H. ROBINS SAYS RORER GROUP MERGER PROPOSAL MERITS
FURTHER CONSIDERATION
A.H. ROBINS SAYS RORER GROUP MERGER PROPOSAL MERITS
FURTHER CONSIDERATION
|
test/19943 | test/19943 |@title digital:1 communications:1 dcai:1 buy:1 fox:1 unit:1 |@word digital:1 communications:1 associates:1 inc:3 say:3 agree:1 fox:3 technology:1 foxt:1 buy:1 research:2 unit:2 cash:1 payment:2 assumption:1 liability:1 around:1 10:1 mln:2 dlrs:2 company:2 part:1 agreement:1 include:1 additional:1 6:1 5:1 base:1 performance:1 year:1 follow:1 closing:1 deal:1 expect:1 close:1 mid:1 august:1 develop:1 make:1 market:1 local:1 area:1 network:1 personal:1 computer:1 | DIGITAL COMMUNICATIONS <DCAI.O> BUYS FOX UNIT
Digital Communications
Associates Inc said it agreed with Fox Technology Inc <FOXT.O>
to buy its Fox Research Inc unit for a cash payment and the
assumption of liabilities of around 10 mln dlrs.
The company said part of the agreement includes payment of
up to an additional 6.5 mln dlrs based on the performance of
the unit in the year following the closing.
The company said the deal is expected to be closed in
mid-August.
Fox Research develops, makes and markets local area
networks for personal computers.
|
test/19946 | test/19946 |@title h:2 robins:1 qrah:1 consider:1 rorer:1 offer:1 |@word robins:5 co:1 say:1 board:2 conclude:1 merger:4 proposal:1 submit:1 rorer:5 group:1 inc:1 ror:1 merit:1 consideration:1 request:1 agree:1 extend:1 1800:1 edt:1 july:1 2:1 deadline:1 response:1 h:1 announce:1 second:1 bid:1 company:3 last:1 thursday:1 analyst:2 forecast:1 family:1 hold:1 control:1 would:2 vigourously:1 oppose:1 add:1 desire:1 emerge:1 independent:1 two:2 year:2 bankruptcy:1 proceeding:1 may:1 thwart:1 shareholder:1 perceive:1 expedient:1 way:1 deal:2 dalkon:2 shield:2 relate:1 liability:2 fail:1 first:1 attempt:1 earlier:1 late:1 plan:1 call:1 share:1 swap:1 worth:1 720:1 mln:1 dlrs:2 also:1 set:1 trust:1 cover:1 estimate:1 1:1 75:1 billion:1 320:1 000:1 claim:1 woman:1 suffer:1 malady:1 use:1 interuterine:1 device:1 | A.H. ROBINS <QRAH> TO CONSIDER RORER OFFER
A.H. Robins Co said its board
has concluded that the merger proposal submitted by Rorer Group
Inc <ROR> merits further consideration.
At the request of the board, Rorer has agreed to extend
until 1800 EDT July 2 its deadline for response from A.H.
Robins.
After Rorer announced its second bid for the company last
Thursday, analysts forecast that the Robins family, which holds
control of the company, would vigourously oppose any merger.
But, the analysts added, that Robins desire to emerge
independent from two years of bankruptcy proceedings may be
thwarted by some Robins' shareholders who perceive a merger as
a more expedient way of dealing with the company's Dalkon
Shield related liabilities.
After a failed first attempt earlier this year, Rorer's
latest merger plan calls for a share swap worth about 720 mln
dlrs.
Rorer would also set up two trusts to cover the estimated
1.75 billion dlrs in liabilities to deal with about 320,000
claims by women who suffered maladies from the use of the
Dalkon Shield interuterine device.
|
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