Stocks were mixed at midday, with the
Nasdaq Composite Index
sharply higher on a tech surge led by
, lately up 3 5/8 to 118 3/16 on news of its deal with the
Federal Trade Commission
(see below). Blue-chips, meanwhile, were posting modest losses.
Major European bourses closed mixed, while Asian markets came back to earth after Friday's rallies with red-hot morning sessions. After breaking the 15,000-point barrier early, Japan's
exhaled to close down 114.95 to 14,779.05. Hong Kong's
finished up a sober 22.87 to 10,263.99, having peaked at 10,500.86 in the morning hours.
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Specialty chemical maker
agreed to buy U.K. phosphate king
Albright & Wilson
for about $655 million in cash.
Allied Waste Industries
announced that it will buy fellow waste management firm
for about $9.1 billion in cash and debt assumption.
Gregg Wirth reported last week on the
strange call-buying in Browning-Ferris.
Consumer and business finance firm
agreed to buy Canadian lender
for about $4.2 billion in stock.
221 partners today are expected to approve plans to sell about 10% of the company in an early summer IPO.
has been bounced by last-minute buyer
Paul Harris Stores
from his position as chairman of the eponymous catalog retailer he founded more than 10 years ago. Peterman expressed shock, saying Paul Harris CFO Thomas McCain told him Saturday that it would take two to three months before the company decided on his fate.
Medical and security screening instrument maker
said it has agreed to buy
unit for $425 million.
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were executed today by the Chinese government for tax fraud.
is ready to offer friendly Persian Gulf states real-time intelligence on Iraqi and Iranian missile launches.
The Northern Ireland peace accord moved forward today with the signing of four key treaties by the British and Irish governments. The treaties formalize institutions binding lawmakers of Northern Ireland, the Republic of Ireland, Scotland, Wales and England.
The Benelux banks keep spreading out. U.S. credit insurance firm
American Bankers Insurance Group
is being acquired by Belgian-Dutch financial services company
for about $2.6 billion.
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agreed to acquire Israeli software company
New Dimension Software
for about $650 million, rounding out its purchase of mainframe-software firm
Boole & Babbage
, the exclusive distributor of New Dimension's products in Europe.
Intel can breathe easy: The FTC reached a settlement with the chip behemoth, just a day before it was set to launch an antitrust suit against the company.
said it has amended its "poison pill" defense against
$777 million hostile takeover bid. The poison pill is now set to trigger if Philips' stake in the company hits 10%, as opposed to the previous level of 20%.
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Two giants gone: One day after the passing of director
, the Yankee Clipper,
, died today at the age of 84 after a long struggle with lung cancer.
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