Reluare marți, 2 ianuarie 1996

In Some Classrooms, Old News Proves Far Livelier Than History

Date: 03 January 1996

By Michael Pollak

Michael Pollak

Forget the grocery checkout counter. To history fans, the nation's most exciting tabloid may be one published in a 150-year-old brick farm house on the fringe of Amish country in Pennsylvania. When the tabloid, Old News, headlines an article, "Diplomat Attends a Viking Funeral," and dates it in A.D. 922, no one complains about staleness. An article about scandal in the White House involving the First Lady, headlined, "President's Wife Accused of Bigamy," refers to Rachel Jackson.

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News Summary

Date: 03 January 1996

International A2-7

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NEWS SUMMARY

Date: 02 January 1996

International A3-6

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COMPANY NEWS;TYCO INTERNATIONAL SELLS BRANDS TO BEIERSDORF

Date: 03 January 1996

AP

Tyco International Ltd. said yesterday that it had agreed to sell its Curad and Futuro brands of bandages to Beiersdorf A.G. of Germany for $165 million. Tyco, based in Exeter, N.H., said it would make the products for Beiersdorf under a long-term deal. Tyco said the businesses had annual sales of more than $100 million. The German company is established in the consumer health care sector with its Nivea and Eucerin skin lotions in the United States. Tyco's stock was unchanged, at $35.50, on the New York Stock Exchange.

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COMPANY NEWS;MEDAPHIS BUYS MEDICAL MANAGEMENT SERVICES

Date: 03 January 1996

Dow Jones

Dow Jones

The Medaphis Corporation said yesterday that it had acquired Medical Management Sciences Inc. for about $149 million in stock, or four million shares. Medical Management, based in Baltimore, provides business management services to about 1,700 radiologists and radiation oncologists. Medaphis said that Medical Management had 1995 revenues of about $20.5 million and about $7.7 million in earnings before taxes. Shares of Medaphis, an Atlanta provider of business management services to physicians and hospitals, rose 25 cents, to $37.25 a share in Nasdaq trading.

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COMPANY NEWS;NATIONAL ENERGY TO ACQUIRE ALEXANDER ENERGY

Date: 03 January 1996

Reuters

National Energy Group said yesterday that it had signed a letter of intent to acquire the Alexander Energy Corporation in a stock deal valued at $129 million, including assumption of about $48 million in debt. The Dallas-based National Energy has offered 1.8 shares of its stock for each Alexander share. National's president and chief executive, Miles Bender, said the two companies' oil and gas reserves, mainly in the Midwest, were complementary. Alexander, which is 8.7 percent owned by the New York investor Carl C. Icahn, looks for and develops oil and gas deposits in Oklahoma and Arkansas. National Energy's stock fell 12.5 cents, to $3.375, while shares of Alexander, based in Oklahoma City, edged up 12.5 cents, to $4.688, in Nasdaq trading.

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COMPANY NEWS;JOHNSON & JOHNSON GETS NEW PRODUCT APPROVAL

Date: 03 January 1996

Bloomberg Business News

Bloomberg News

Johnson & Johnson said yesterday that it had won approval from the Food and Drug Administration to sell Renova, a prescription skin cream to reduce wrinkles, pigmentation and dryness in skin overexposed to the sun. It was developed by the Ortho Pharmaceutical Corporation, a Johnson & Johnson unit. Johnson & Johnson, based in New Brunswick, N.J., has made a big push into dermatology products in recent years, including the $924 million acquisition of the Neutrogena Corporation in 1994.

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COMPANY NEWS;BEACON PROPERTIES TO BUY ATLANTA REAL ESTATE

Date: 03 January 1996

Dow Jones

Dow Jones

The Beacon Properties Corporation said yesterday that it would acquire a suburban Atlanta office complex for $336 million from the Metropolitan Life Insurance Company of New York and Taylor & Mathis, an Atlanta real estate developer. Under the deal, Beacon, a Boston real estate investment trust, would acquire 32 buildings in Perimeter Center. The company would also have the option to buy adjoining land to develop another 1.6 million square feet of office space. The purchase would increase Beacon's property holdings nearly 50 percent, to about 10 million square feet of space.

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COMPANY NEWS;TENNECO ENERGY TO SELL ITS PIPELINE STAKE

Date: 03 January 1996

AP

Tenneco Energy, a unit of Tenneco Inc., said yesterday that it had agreed to sell its 50 percent interest in the Kern River natural gas pipeline system to the Williams Companies for $205 million. Tenneco Energy, based in Houston, and Williams, based in Tulsa, Okla., are partners in the Kern River pipeline that runs from Opal, Wyo., to Bakersfield, Calif. The agreement was made on Dec. 31. Tenneco Energy said the timing would allow the company to retain about $10 million of net operating income accrued since September, when it announced the sale of its share to a subsidiary of the Questar Corporation of Salt Lake City for $225 million. Last week, Tenneco Energy and Questar terminated the deal after the Federal Trade Commission voted against it.

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COMPANY NEWS;CASINO AMERICA TO BUY ANOTHER RIVERBOAT CASINO

Date: 03 January 1996

Dow Jones

Dow Jones

Casino America Inc. agreed yesterday to buy a riverboat casino for about $55 million. Casino America, which currently owns and operates four riverboat and dockside casinos on the Mississippi River, said it would buy the Grand Palais Riverboat from Hemmeter Enterprises Inc., a private, Denver-based gaming concern that filed for bankruptcy protection in November 1995. The $55 million price includes a package of cash, notes, stock, stock-purchase warrants and assumption of $10 million of Grand Palais Riverboat's existing liabilities. Casino America's stock rose $1, or 16 percent, to $7.125 a share in Nasdaq trading. Casino America, based in Biloxi, Miss., offered to pay 2.3 million in shares and warrants to buy another 500,000 shares at $10 a share.

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