Advertisement

BRIEFLY

March 20, 1987

Intermark Inc., which holds a 43.4% stake in Fort Worth-based Pier 1 Imports Inc., said it intends to seek majority control of Pier 1's outstanding stock . . . Waste Management Inc. of Oak Brook, Ill., said it is willing to increase its offer to buy Columbus, Ohio-based Chemlawn Corp. to $33 a share from $27 . . . California State Bank, Covina, announced that negotiations for the acquisition of Pasadena First National Bank have been terminated . . . A definitive agreement has been signed, calling for Provident Life & Accident Insurance of Chattanooga, Tenn., to acquire a Los Angeles-based company, Transamerica Occidental Life Insurance Co. . . . United Steelworkers members at Allegheny Ludlum Corp. approved a three-year contract, calling for cash bonuses to more than 3,000 hourly employees . . . The Investment Company Institute reported that the assets of the nation's 379 money market mutual funds rose $43.4 million in the week ended March 18 . . . London-based Rank Xerox, which is 51% owned by Xerox Corp., said it is selling operations in South Africa because of "our concern over the social and political situation" there.

FOR THE RECORD
Los Angeles Times Monday March 23, 1987 Home Edition Business Part 4 Page 2 Column 3 Financial Desk 2 inches; 67 words Type of Material: Correction
Los Angeles-based Transamerica Occidental Life Insurance Co. and Provident Life & Accident Insurance Co. of Chattanooga, Tenn., signed a definitive agreement covering a previously announced plan for Provident to acquire Transamerica Occidental's group life and health operations, including the unit's 600 employees who will, however, remain in Los Angeles, the companies said. The Times erroneously described the transaction in Friday's Business in Brief column.

Advertisement
Los Angeles Times Articles
|
|
|