plans to buy the remaining 77% of
that it doesn't already own for $2.4 billion in stock. AT&T Wireless is offering a premium of about 19% to TeleCorp's closing price over the last 30 days. AT&T Wireless will also assume about $2.1 billion of TeleCorp's debt and $221 million of preferred securities.
Earnings Reports & Warnings:
expects to meet analysts' forecasts for the third quarter. Wall Street is calling for earnings of 11 cents a share. The company also created a new division called ArthroCare Endo to develop and market products for general surgery.
Helen of Troy
, a maker of personal care products, earned $7.3 million, or 25 cents a share, in the second quarter. The company earned $3.7 million, or 13 cents a share, in the year-ago period. The company now expects to earn 82 cents to 92 cents a share for the full year. Helen of Troy previously forecast income of 80 cents to 90 cents for the year.
Profit Recovery Group
, a recovery auditor, expects to earn 4 cents a share in the third quarter, well below the 14 cents analysts are projecting. The company also expects fourth-quarter revenue to increase 10% from the year-ago period. On a down note, Profit Recovery said it isn't in full compliance with its bank credit facility agreement. The company is holding talks with its banks about the matter.
Mergers, Acquisitions & Joint Ventures:
Northwest Natural Gas
Portland General Electric unit for about $1.88 billion. The deal, which requires regulatory approval, would combine Oregon's largest natural gas utility and largest electric utility. The companies expect to close the agreement in the fourth quarter of 2002.
raised its stake in
, a Norwegian metals maker, to 39.5%. Elkem said Alcoa bought 2.83 million shares in the company, bringing its total to 19.46 million shares.