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1st of May 1996 News
Nyheter som framträdde på New York Times framsida den 1 maj 1996
FORMER CHIEF OF DELPHI ON-LINE SERVICE BUYS IT BACK
Date: 02 May 1996
AP
Three years after the News Corporation bought the Delphi on-line service, the former chief executive of Delphi has bought it back for an undisclosed price. The executive, Dan Bruns, who left Delphi two years ago, led a team of entrepreneurs who jumped at the chance to buy it back earlier this year, around the same time as the News Corporation's Internet joint venture with MCI Communications fell apart. Mr. Bruns announced his return to Delphi subscribers, whose numbers have been dwindling, on line this week.
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Metro Matters;Raising Funds By Arresting Journalists
Date: 01 May 1996
By Joyce Purnick
Joyce Purnick
LAST week, two reporters were arrested at the Waldorf-Astoria for doing their jobs. This is not the most common occurrence in media-friendly New York. But Thursday night, police officers hustled Wayne Barrett of The Village Voice and Andrea Bernstein of The New York Observer out of the hotel on Park Avenue for trying to cover Gov. George E. Pataki's fund-raiser.
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News Summary
Date: 01 May 1996
International A3-10
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NEWS SUMMARY
Date: 02 May 1996
International A3-15
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COMPANY NEWS;DIVIDEND TO RISE 15% AND STOCK WILL BE SPLIT
Date: 02 May 1996
Dow Jones
Dow Jones
Pepsico Inc. said yesterday that it would raise its dividend by 15 percent and that it would split its stock 2 for 1. Pepsico, the soft-drink and fast-food company, will distribute two shares for every share held as of May 10. The company will then raise its quarterly dividend to 11.5 cents a share from 10 cents, when accounting for the split. The higher dividend will be paid on June 28 to shareholders of record on June 7.
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COMPANY NEWS;OWNER OF SPALDING AND EVENFLO CONSIDERS A SALE
Date: 01 May 1996
Reuters
The Spalding and Evenflo Companies said yesterday that its corporate parent, the Cisneros Group of Venezuela, planned to "explore options" for selling all or part of the company. Spalding and Evenflo, which is based in Tampa, Fla., also said that it expected its branded sales to total $1 billion in 1996. Cisneros bought the Spalding sporting goods company and the Evenflo infant products business in 1984. Cisneros said it was considering a sale because it wanted to pursue opportunities in the telecommunications industry.
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COMPANY NEWS;SCITEX REJECTS A SWEETENED TAKEOVER OFFER
Date: 01 May 1996
Reuters
The Scitex Corporation said yesterday that it had rejected a second proposal from the investor Davidi Gilo to acquire the company and take it private. Scitex, an Israeli maker of computer imaging systems, said such a move would not be in the best interests of shareholders. The Scitex statement came in response to a letter dated Sunday in which Mr. Gilo said his investor group would be prepared to acquire Scitex for $25 a share. At that price, Scitex would be worth more than $1 billion. Scitex shares fell 12.5 cents yesterday, to $21, in Nasdaq trading. Mr. Gilo had offered $20 a share in March.
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COMPANY NEWS;HIGHWOODS PROPERTIES IN DEAL FOR CROCKER REALTY
Date: 01 May 1996
Dow Jones
Dow Jones
Highwoods Properties Inc. has agreed to buy Crocker Realty Trust Inc. in a $537.5 million deal that will significantly expand Highwoods's holdings in the Southeast. Highwoods will acquire all of the stock in Crocker, a real estate investment trust in Boca Raton, Fla., for $11.02 a share, or about $297.5 million, and will assume about $240 million of debt. Highwoods, which is based in Raleigh, N.C., will gain a portfolio that includes 70 suburban office buildings totaling 5.7 million square feet in seven Southeastern states. Highwoods's shares rose $1.50 yesterday, to $30.25, on the New York Stock Exchange. Crocker shares rose $1.125, to $11.125, on the American Stock Exchange.
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COMPANY NEWS;MRS. SMITH'S TO BE SOLD TO FLOWERS, NOT CONAGRA
Date: 02 May 1996
Reuters
The J. M. Smucker Company said yesterday that it had agreed to sell its Mrs. Smith's frozen pie business to Flowers Industries instead of to Conagra Inc. Financial terms were not disclosed. Smucker said the sale would result in a charge of 4 cents a share against its 1996 results. Smucker had tentatively agreed in February to sell Mrs. Smith's, which it acquired from the Kellogg Company in 1994, to Conagra. The sale of Mrs. Smith's, which generates $110 million in annual sales, is expected to close at the end of May, Smucker said. Flowers, which is based in Thomasville, Ga., makes food products for retail and food-service customers.
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COMPANY NEWS;FIDELITY FINANCIAL TO ACQUIRE CIRCLE FINANCIAL
Date: 01 May 1996
Dow Jones
Dow Jones
Fidelity Financial of Ohio Inc. agreed yesterday to acquire the Circle Financial Corporation of Cincinnati in a transaction valued about $27.6 million. Fidelity will exchange $38 in cash or stock for each share of Circle Financial, subject to pricing and other provisions. Fidelity is the holding company for Fidelity Federal Savings Bank, which has about $249.4 million in assets and operates three branches in the Cincinnati area. Circle Financial is the parent of People's Savings Association, which has assets of $229.4 million and operates seven branches in the region. Circle shares rose $7.125 yesterday, to $34.625, in Nasdaq trading; Fidelity shares fell 62.5 cents, to $10.
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