FHP to buy TakeCare in 800 million merger plan
FHP International Corp. will acquire TakeCare Inc. for about 800 million dollars, creating a Western U.S. HMO with 1.6 million members and 3.25 billion dollars in annual revenue. The deal adds substantial market share in Northern California and Colorado and doubles FHP’s commercial enrollment, with completion expected by midyear. The per-share price is about 62 dollars, 35 percent cash, 15 percent stock, and 50 percent convertible preferred stock.
MENTIONED IN THIS ARTICLE
FHP International Corp
TakeCare Inc
U.S
FHP
California
Arizona
Utah
New Mexico
Nevada
Colorado
Guam
Fountain Valley
Calif
Mellon Plans Cornerstone MasterCard With Interest Rebates
Mellon Bank Corp will roll out a credit card named Mellon Cornerstone MasterCard offering a 10 percent rebate on interest after two years and a full rebate after 20 years. No annual fee but a high variable rate around 17.9 percent, above the industry average. A Mellon spokesman did not comment.
MENTIONED IN THIS ARTICLE
Mellon Bank Corp
Mellon Cornerstone MasterCard
Mellon
Rates on T-bills fall to lowest levels since 1993
The Treasury sold 12.8 billion in three month bills at an average discount of 3.02 percent, down from 3.10 percent a week earlier, and 12.6 billion in six month bills at 3.18 percent, down from 3.29 percent. The three month rate marked the lowest since 2.96 percent on Oct. 4 1993, and the six month rate the lowest since 3.14 percent on Oct. 18 1993.
MENTIONED IN THIS ARTICLE
Mexico
Banco de Mexico
Treasury
Treasury Department
Coleman Spas Sold to Coleman Co for 8.4 Million
Coleman Spas based in Chandler, a distributor of portable spas, is bought by the Coleman Co. of Wichita for 8.4 million dollars. The unit was held by Meridan Sports Inc., a MacAndrews & Forbes subsidiary, under a Coleman licensing agreement. MacAndrews & Forbes controls Ronald Perlman entities and holds over 50 percent of Coleman Co. Inc., traded on the NYSE. Coleman Spas employs about 100 people. No changes are planned in
MENTIONED IN THIS ARTICLE
Coleman Spas
Coleman Co
Wichita
Kan
Meridan Sports Inc
MacAndrews & Forbes Holdings Inc
Coleman
MacAndrews & Forbes
Ronald Perlman
Revion
Coleman Co. Inc
New York Stock Exchange
Intel plant fate hinges on Arizona tax break for consumables
Intel seeks a tax exemption on expendable materials used in its proposed 1.3 billion Chandler manufacturing plant. The exemption could save millions annually, with officials warning the deal could be a deal breaker for the project. Arizona pitched a Foreign Trade Zone and renewed consumables talks to keep the plant competitive against Portland offers and global locations.
MENTIONED IN THIS ARTICLE
Intel
Chandler
Arizona
Mike Edwards
Barb Dickerson
Arthur Anderson
Ocotillo
Portland
Edwards
Cyrix settles Intel trademark case over ditto swirl ad
Cyrix and Intel reached a settlement ending a federal suit over Cyrix’s use of Intel’s trademark swirl image with the word ditto. Cyrix agrees to use the swirl only in lawful comparative ads and not to pair it with ditto. Intel spokesman says the suit is dismissed and terms were not disclosed.
MENTIONED IN THIS ARTICLE
Richardson
Texas
Cyrix Corp
Intel Corp
Cyrix
Intel
San Francisco
Ad Cyrix
Katherine Dockerill
John Thompson
Accessline consolidates phone numbers in Arizona Valley
US West Cellular announced AccessLine, a single number service for calls to reach customers at office, home, car or away from town. Available in the Valley and Casa Grande for 14.95 or 19.95 dollars monthly, with pager add ons.
MENTIONED IN THIS ARTICLE
US West Cellular
AccessLine
Tim Samples
Valley
Casa Grande
US West Names Four Cities for Multimedia Network
US West announced plans to add Denver, Minneapolis-St Paul, Portland and Boise to its multimedia network based in Omaha. Arizona remains absent due to Arizona Corporation Commission inaction on a $128 million rate increase, with the chain saying earnings in the state are too low for such investments.
MENTIONED IN THIS ARTICLE
Arizona
US West
Arizona Corporation Commission
Dave Banks
Commission
Marcia Weeks
Regional Telephone Company
Federal Communications Commission
Denver
Minneapolis-St. Paul
Portland
Ore
Boise
Idaho
Omaha
Neb
Valley homes struggle for affordability in 1993 report
The Midwest remains cheapest region to buy a home as Jackson, Michigan regains the top Housing Affordability Index spot with a 94.8 score. Phoenix ranks 109th and Tucson 157th among 188 markets, while Arizona Realtors report 31,000 Valley home sales in 1993 with a record $3.1 billion in dollar volume and a 15 percent drop in single family listings to under 14,000. The Valley three bedroom average price sits at $95,000, up 2 percent from 1992.
MENTIONED IN THIS ARTICLE
Midwest
Jackson
Mich
Phoenix
National Association of Homebuilders
Tucson
Arizona
ARMLS
Jerry Hostetler
San Francisco
Venture abroad by investing in international mutual funds
International mutual funds rose 39 percent in 1993 per Lipper Analytical Services with regional gains including Japan 20 percent, Europe 26 percent, Pacific excluding Japan 63 percent, and Latin America 65 percent. U.S. equity funds rose 12 percent.
MENTIONED IN THIS ARTICLE
Lipper Analytical Services
Japan
U.S
Investment Company Institute
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Far East
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Pace Wholesale
N. Gilbert Road
Gilbert
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John Starks
Tribune
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Wal-Mart
Valley Pace
Ed Taylor
Valley Homes
Jane Bryant Quinn
Money Matters
Europe
France
Germany
East Asia
Globe
Mehran Nakhjavani
United States
Magellan
Janus
Gillette
Dow Jones
Ste
Nyse Index
Nyse
Ford Motor
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Peng
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