Reluare luni, 10 iunie 1996

Corrections

Date: 10 June 1996

An article in Business Day on May 20 about the job prospects of recent college graduates with journalism degrees misattributed an estimate of where the graduates are seeking work. The statement that three-quarters of journalism graduates will seek jobs in print, radio, television and Internet journalism was based on interviews with educators, placement directors and professionals around the country. It was not a finding of a survey of graduates by Professor Lee Becker of Ohio State University.

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NEWS SUMMARY

Date: 10 June 1996

International A3-10

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NEWS SUMMARY

Date: 11 June 1996

International A3-16

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TV SPORTS;The Newest Approach: All the Sports News But None of the Games

Date: 11 June 1996

By Richard Sandomir

Richard Sandomir

Four months ago, CNN and Sports Illustrated announced the creation of CNN/SI, a 24-hour all-news sports network. The notion of a service devoted solely to news and assorted blather -- without any games -- seemed audacious but flaky. You wonder if there are enough viewers, advertisers, talking heads or "news" to make round-the-clock sports news viable, when there are no games on the roster. Will "Ben-Gay's Disabled List Tonight" become must-see TV? Will enough Craig Kilborn clones be created to stock one or even two such channels?

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COMPANY NEWS;SPARTECH TO BUY HAMELIN'S PLASTICS DIVISIONS

Date: 11 June 1996

Bloomberg Business News

Bloomberg News

The Spartech Corporation agreed yesterday to buy Montreal-based Hamelin Group's plastic extrusion, color and molding divisions for about $60 million. St. Louis-based Spartech said the acquisition would allow it to open a new facility in the Northeastern United States or Canada by 1997. The acquisition is also expected to increase Spartech revenue by about $85 million, to $475 million, and increase Spartech's earnings immediately, the company said. Spartech makes engineered plastics, and the privately owned Hamelin makes plastic products for the industrial and housewares market.

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COMPANY NEWS;CANADIAN NATURAL TO ACQUIRE SCEPTRE RESOURCES

Date: 11 June 1996

Reuters

Sceptre Resources Ltd. of Calgary, Alberta, signed a deal to be acquired for about $700 million (Canadian), or $511 million (United States), by one of Canada's most successful energy companies, Canadian Natural Resources. Sceptre had been struggling with high costs and declining oil and gas reserves, and so put itself up for sale in March. Sceptre shareholders will be able to either receive 0.38 of a Canadian Natural share for each Sceptre share or 0.3025 of a share plus $2 for each Sceptre share. Sceptre's board said it would not solicit other bids. Sceptre shares jumped 35 cents, to $9.10, on the Toronto Stock Exchange; Canadian Natural rose 20 cents, to $24.05.

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WORLD NEWS BRIEFS;Rate of Suicide by Youths Is Said to Rise in Europe

Date: 11 June 1996

Reuters

The number of suicide attempts by male teen-agers in Europe has risen sharply in the last 10 years, with unemployment and imitative suicides contributing to the rise, researchers said today. Unni Bill-Brahe, the director of the study, said that in the past more teen-age girls than boys attempted suicide but that this was now changing, particularly in Scandinavian countries.

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COMPANY NEWS;MAXXIM MEDICAL AGREES TO BUY STERILE CONCEPTS

Date: 11 June 1996

Bloomberg Business News

Bloomberg News

Maxxim Medical Inc. said yesterday that it had agreed to buy Sterile Concepts Holdings for about $115 million in cash and the assumption of $32 million in debt. The deal would create the second-largest surgical kit and tray distributor behind Baxter International Inc. Maxxim, which made previous attempts to buy Sterile Concepts, agreed to pay $20 for each share. Shares of Sterile Concepts, which is based in Richmond, fell $1.875, to $19.75, on the New York Stock Exchange, and Maxxim, based in Sugar Land, Tex., rose 75 cents, to $18.625. Maxxim's first offer, made in February, was $16 a share.

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COMPANY NEWS;MOBIL TO SELL REAL ESTATE ASSETS TO WESTBROOK

Date: 11 June 1996

Reuters

The Mobil Corporation said yesterday that it had agreed to sell its community real estate business in seven states to Westbrook Partners, an investment fund, for $324 million. The deal includes 18 of 20 planned communities owned by Mobil Land Development, based in Reston, Va., one of the nation's largest organizations for planned community development. The deal is consistent with Mobil's strategy to sell assets that are "worth more to others" and invest proceeds in the company's oil, gas and chemicals business, the company said in a statement. Westbrook was formed in April 1994 by former senior executives of the Morgan Stanley Real Estate Fund. Westbrook controls more than $1.6 billion in real estate assets in 24 states.

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COMPANY NEWS;DII GROUP AGREES TO ACQUIRE ORBIT SEMICONDUCTOR

Date: 11 June 1996

Bloomberg Business News

Bloomberg News

DII Group Inc. has agreed to acquire Orbit Semiconductor Inc. for about $102 million in stock, the companies said yesterday. Under the agreement, Orbit shareholders will receive 0.45 share of DII Group common stock for each share of Orbit, a semiconductor maker. DII Group, a maker of circuit boards and related electronic equipment, plans to issue about 3.6 million shares of common stock. Shares of Orbit, based in Sunnyvale, Calif., rose $1.875, to $12, in Nasdaq trading, while DII Group fell $3.50 a share, to $27.50. DII Group, based in Denver, said the acquisition, excluding merger costs of about $3.5 million to $4 million, would slightly dilute third-quarter earnings and would add to the bottom line in the fourth quarter.

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