New York stocks ease as dollar weakness dents market
The New York Stock Exchange fell modestly as the dollar dropped against European currencies and the yen, signaling weak foreign demand for U.S. equities. The Dow slipped to around 277 points, with more decliners than gainers on the floor and the NYSE composite easing about 1 percent.
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Carter Hawley Hale Eyes Field Merger
Carter Hawley Hale Store Inc a major California retailer proposed merging with Chicago based Marshall Field Co. Field filed an antitrust suit in U S District Court Chicago to block the move Hawley Hale offered a tax free exchange of 262 Carter Hawley Hale shares for each Marshall Field share with Field shareholders able to elect cash up to 49 percent Hawley Hale said the proposal was a basis for negotiations NYSE halted trading pending more information Arena Field leaders dispute the plan noting federal antitrust risk and non negotiation stance from Field management
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Carter Hawley Hale Eyes Field
Associated Press
Carter Hawley Hale Store Inc
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Chicago
Marshall Field & Co
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U.S. District Court
Carter Hawley Hale
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U.S
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