AlliedSignal's AMP bid hinges on a vote in state legislature

Article Abstract:

AlliedSignal Inc Chairman Lawrence A. Bossidy says he may drop plans for a hostile takeover of AMP Inc if the PA legislature enacts a law barring consent solicitation from shareholders for 12 mos after a hostile bid. In Aug 1998, Allied had made an initial tender offer to buy 9% of AMP for $44.50/share, and planned to use a vote-by-mail procedure to gain control of AMP's board of directors. The news that AlliedSignal might withdraw was welcomed by an AMP spokeswoman. Lawmakers are expected to vote on the bill Oct 6, 1998.

Comment:

May withdraw its hostile bid for AMP Inc if the PA legislature enacts anti-consent-solication law

Diversified Companies, Other Electrical Equipment and Component Manufacturing, Electronic Components, AlliedSignal Inc., AMP Inc.

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Edison to purchase Pittsburgh plant for $1.8 billion

Article Abstract:

Edison International will purchase a power plant outside of Pittsburg for $1.8 billion. The plant, which is jointly owned by GPU Inc. and Energy East Corp., is one of the lowest-cost coal burning plants in the region and will probably begin adding earnings for Edison by the year 2000. Another power company, AES Corp. also agreed to acquire six power plants in New York State. The move was a direct result of the deregulation of electricity in the state.

Comment:

Edison purchases power plant in Pittsburg

Electric Utilities, Electric Power Generation, Transmission and Distribution, Capital expenditures, Electric Power Generating, Electric Power Generation, Hong Kong, Edison International, GPU Inc., AES Corp. (Arlington, Virginia), Eastern Energy Corp.

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Hearst-Argyle to buy broadcast unit from Pulitzer for $1.15 billion in stock

Article Abstract:

Hearst-Argyle Television Inc. said that it agreed to acquire the radio and television operations of Pulitzer Publishing Co. for $1.15 billion in stock and $700 million in assumed debt. The move will make Hearst-Argyle one of the largest independent broadcasters with an additional five radio stations and nine TV stations.

Comment:

Said it agreed to acquire the radio and TV operations of Pulitzer Publishing Co for $1.15 bil

Television Broadcasting, Radio & TV Broadcasting, Radio and Television Broadcasting, Television broadcasting industry, Broadcasting industry, Broadcasting, Pulitzer Publishing Co., Hearst-Argyle Television Inc.

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