Interco to weigh City Capital bid for St Louis firm
Interco Inc leaders to consider the $246 billion takeover offer from City Capital Associates at a meeting on Ang 8 city capital, a Washington DC limited partnership, while analysts peg fair value around $67 a share as Interco’s stock jumps on the news. Interco, based in St Louis, produces London Fog, Florsheim, Converse, Broyhill, and Ethan Allen brands and spans apparel, footwear, and home furnishings.
MENTIONED IN THIS ARTICLE
ST Louis
Interco Inc
City Capital Associates
City Capital
Washington DC
Interco
United States
London Fog Clothes
Baltimore
Eldersburg
Florsheim
Converse Shoes
Broyhill
Ethan Allen
Robert F Buchanan
A G Edwards & Sons Inc
City
New York Stock Exchange
Prices close sharply higher in broad market rally
Prices close sharply higher as the Dow Jones average lifts 46.0 points to 2,128.73 in the session. Advancing issues outnumber decliners about 15 to 4 on the NYSE and nationwide markets, with 21.91 million shares traded. The rally broadens with computer driven buying and institutions moving off the sidelines.
MENTIONED IN THIS ARTICLE
New York
New York Stock Exchange
NYSE
Nyse-Lsted
Tradiig
Eurofighter to use interim RB 199.022 engines in early EFA prototypes
Eurofighter said interim RB 199.022 engines from Turbo Union will equip first European Fighter Aircraft prototypes, allowing early development parallel to the EJ 200 engine program. The EJ 200 engines by EuroJet will power later prototypes and production jets.
MENTIONED IN THIS ARTICLE
Washington
Prnewswire
Eurofighter
Turbo Union
EuroJet
Cyclops completes purchase of Eastern Stainless Division
Cyclops Industries has completed the purchase of Eastmet Corpora tions Eastern Stainless Division through a new subsidiary Eastern Stainless Corporation. The deal, tied to Eastmet’s bankruptcy reorganization by secured creditors and Cyclops, was initially valued at about 53 million dollars, subject to net asset value adjustments.
MENTIONED IN THIS ARTICLE
Pittsburgh
Prnewswire
Cyclops Industries, Inc
NYSE
CYC
Eastern Stainless
Eastmet Corporation
Eastmet
Cyclops Cyclops
Eastern Stainless Corporation
Legg Mason approves 9 percent dividend raise
Legg Mason Inc. says its board approved a 9 percent increase in the regular quarterly dividend on common stock. The annual rate rises to 2.40 dollars from 2.20, with a quarterly 0.60 dollar payout. The next dividend is payable October 17, 1988 to shareholders of record on September 20, 1988.
MENTIONED IN THIS ARTICLE
Baltimore
Prnewswire
Legg Mason, Inc
Nyse LM
Hecht Co to pay $500000 in misleading ads case
Maryland AG announced a 500000 settlement with Hecht Co over mattress ads that used fictitious regular prices. The agreement ends a 1985 suit accusing bait and switch style pricing and requires new, substantiated bedding price comparisons. Funds go to the general treasury after the 30 day ad rules take effect.
MENTIONED IN THIS ARTICLE
Baltimore
Hecht Conas
Maryland
Joseph Curran Jr
Troth
Curran
Hecht
Montgomery County
Peter Messitte
Hecht’s
Virginia
District of Columbia
Luskin’s
Woodward & Lothrop
Attorney General
Consumer Protection Division
Advest suspends broker in Business Week leak probe
A second brokerage firm acts in the widening probe into trading based on leaked tips from Business Week. Prudential Bache Security Inc dismissed Brian Callahan in Anaheim after suspicious trades, and Advest Inc suspended an unnamed broker in New London following an internal investigation. Merrill Lynch fired a New London employee and reviewed a vice president’s role as authorities probe prepublication tips. Business Week said it had begun an inquiry into unusual trading tied to its Inside Wall Street column.
MENTIONED IN THIS ARTICLE
New York
Business Week
Prudential Bache Securitey Inc
Brian Callahan
Anaheim
Calif
Peter Costighe
Callahan
Wall Street
Hartford
Merrill Lynch & Co
Merrill
William Dillon
New London
People Familuar
Merril
Merrill Lynch
James Smith
Smith
Ther
Senor
Smush
Also Mentioned on This Page
Cyclops
Legg Mason
Mr Curran
Stephen RH Sachs
Woodward
General Treasury
Advest
William Clark
Dillon
Merrill Tynch
Old Lyme
Conn
Als Son
The
Dhooders
Swintec Corporation
Patrick St
Linda Bromfield
Travel Consultants
East Street
Monocacy Village
Patrick Center
Toyota, Inc
Mercedes Benz
Mercedes-Benz
Mercedes: Benz
Iummediately
Vowcaherty
Wonton
Tnsmou
Brecon
Bortone
Islinch
Vall
CredieLine Woda
Lope
Ctmaekir Vale
Equitable Federal Savings Bank
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