CBS to sell nonmedia lines to consortium

Article Abstract:

CBS Corp. signed a definitive agreement to sell two businesses to a joint venture formed by Morrison Knudsen Corp. and British Nuclear Fuels Ltd. for $238 million in cash and the assumption of $950 million in liabilities and other obligations. The sale marks the final step in unraveling what was once one of America's largest industrial empires. CBS has steadily sold off portions of Westinghouse as it completes its transformation into a pure-play media concern. The companies said they expect the transaction to close by year end, pending regulatory approval.

Comment:

CBS to sell nonmedia lines to consortium

Media Planning/Goals, Radio & TV Broadcasting, Radio and Television Broadcasting, Broadcasting industry, Broadcasting, CBS Broadcasting Inc.

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AlliedSignal's bid for AMP isn't a surprise to everyone

Article Abstract:

AlliedSignal Inc., a diversified manufacturer based in Morris Township, NJ, has made an unsolicited $9.8 billion bid to acquire AMP Inc., the largest electronic connectors manufacturer in the world. AMP, which has hired Credit Suisse First Boston Corp. to examine the takeover offer, had $5.75 billion in 1997 sales and controls a 20% share of the global connectors market with 90,000 customers in 145 countries. Industry analysts said that AMP is in a weak position to resist a takeover attempt by AlliedSignal.

Comment:

Has made an unsolicited $9.8 bil acquisition bid for AMP Inc.

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

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CalEnergy to buy MidAmericn Energy

Article Abstract:

MidAmerican Energy Holdings Co., the largest utility in Iowa, will be acquired by CalEnergy Co. for $2.65 billion in cash and the assumption of $1.4 billion in debt and preferred stock. MidAmerican, which has a target of 10 million retail natural gas and electric customers, will become a subsidiary of CalEnergy in the merger. Officials at CalEnergy, which is pursuing projects throughout the world, expect the deal to be completed in the next six months, following approval by antitrust regulators.

Comment:

Will acquire MidAmerican Energy Holdings Co. for $2.65 billion in cash and the assumption of $1.4 billion in debt and stock

Electric Utilities, Electric Power Generation, Transmission and Distribution, MidAmerican Energy Holdings Co., CalEnergy Company Inc.

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