Life Investors seeks delay in Dutch takeover bid
Life Investors Inc. asks the Iowa Supreme Court to stay AGO Internationals tender offer of 1.5 million shares at 34 per share amid a court battle over control. AGO holds 41.5 percent after a 122.5 million December 1979 deal and would reach about 56 percent with the buy. The Iowa Insurance Commissioner ruled AGO in control and allowed the bid to proceed, which Life Investors challenges as misinterpreted and improperly timed. The Eighth Circuit paused AGO's offer for six days to hear Life Investors arguments.
MENTIONED IN THIS ARTICLE
Des Moines
Life Investors Inc
Iowa Supreme Court
High Court
Iowa
Bruce Foudree
AGO International
Life Investors
Linn County District Court
Paul Kilburg
Supreme Court
AGO
Foudree
Insurance Department
Life Investors Legal
Harvey Clark
Life
Eighth Circuit Court of Appeals
Univar Directors Meet Next Week in Cedar Rapids
The Univar Corp board will convene in Cedar Rapids at Stouffer's Five Seasons Hotel on Monday at 9 a.m. to review the plant restart at Penick and Ford and tour facilities, followed by a Tuesday session with five division presidents and six corporate officers.
MENTIONED IN THIS ARTICLE
Univar Corp
Penick and
Ford
Cedar Rapids
Univar
Stouffer's
Five Seasons Hotel
C.M. Widmer
Penick
Widmer
Penick Plant
Pacific Northwest
Seattle
Batavia
Ill
VWR Scientific Inc
Illinois
VWR Scientific
Brisbane
Calif
Raytheon and IBM 1981 Third Quarter Earnings Report
Raytheon reports Q3 earnings up 15 percent with a 12.6 percent sales rise. Net income $87.6 million or $1.04 per share on $1.3 billion in sales. IBM earns $1.18 a share in Q3 1981, down from $1.51 due to stronger dollar. nine month revenues reach $20.1 billion.
MENTIONED IN THIS ARTICLE
Lexington
Mass
Raytheon Corp
Raytheon
Amana Refrigeration
Iowa Manufacturing
Iowa
New York
UPI
International Business Machines Corp
U.S
IBM
John R. Opel
Opel
Utility loses on nuke costs
The Supreme Court upheld a ruling barring Cleveland Electric Illuminating Co. from charging customers $60 million for preliminary work on four nuclear plants never completed. CEI had sought recovery despite abandoning plans after extensive planning and early construction.
MENTIONED IN THIS ARTICLE
Washington
UPI
Supreme Court
a_ utility
Cleveland Electric Illuminating Co
High Court
CEI
Ohio Supreme Court
Stocks slip for third day as markets weigh rate cuts and takeovers
UPI reports a third straight dip as investors weigh a rate cut, third-quarter results, and takeover battles. Banks cut prime rates to 18 percent, IBM earnings disappoint, and Sunbeam Grumman and Santa Fe contest mergers continue with mixed results.
MENTIONED IN THIS ARTICLE
New York
UPI
IBM
Sunbeam
Grumman
Santa Fe International
Dow Jones
Dow
Standard & Poor
Sunbeam Corp
IC Industries
Allegheny International
Allegheny
Williams Cos
Pennzoil
Merrill Lynch
September retail sales show little change at 0.44 percent
Washington reports September retail sales rose 0.44 percent, with auto sales up while food, clothing, and department stores fell. Total value reached about 88.4 billion dollars, up 10.2 percent from a year ago, with August and July revisions noted.
MENTIONED IN THIS ARTICLE
Washington
UPI
Commerce Department
Banks Cut Prime Rate to 18 Percent Across Many Banks
New York reports most banks lowered the prime rate to 18 percent from 19. Citibank led the move with Bank of America following closely and Chase Manhattan already at 18 percent. United Missouri Bancshares reduced to 17 percent from 18.4 percent. An economist predicts further undercutting could bring the rate to 16–17 percent by year’s end.
MENTIONED IN THIS ARTICLE
New York
UPI
Citibank
Bank of America
Chase Manhattan
United Missouri Bancshares
David M. Jones
Aubrey G. Lanston & Co
Also Mentioned on This Page
Judy Daubenmeier
Gazette
Department
C.R
American Stock Exchange
Houston Oil Trust
Amex
Brunswick Corp
Delhi International Oil
National Association of Securities Dealers
P.S. Robertson
2Nd Ave
Westdale
Williams Blvd
Lindale Mall
Iowa City
Clinton
FSLIC
Eer
First National Bank OF Ray
Marion
FDIC
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