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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Apr 26, 1990
Page
4
Exxon Corp faced a rare setback as six environmental proposals were defeated by shareholders. Despite criticism over the Valdez spill, votes showed none reaching 10 percent, while advocates urged emission cuts, a board environmental committee, and adherence to the Valdez Principles.
New York AP reports Saks Fifth Avenue will be sold to Investcorp for about 1.5 billion under a definitive agreement with BAT Industries. Investcorp will assume certain Saks liabilities and plans to complete within 10 weeks. BAT chairman Patrick Sheehy touts Investcorp’s capacity to expand the luxury chain and its track record in luxury retailing.
Carl Icahn told USX Corp. shareholders he would add about 800 million dollars to his USX stake and pledge not to seek control if they approve spinning off the steel unit. As USX's largest holder with 13.3 percent, he counters claims the move is to inflate his own profits.
Norton Co. in Worcester says it accepts Compagnie Saint-Gobain's 1.8 billion merger offer after fending off a 1.6 billion bid from Britain's BTR PLC. The agreement values Norton at 75 a share and positions Saint-Gobain as owner of the abrasive and engineering materials producer.
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