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BRIEFLY

November 04, 1987

A federal judge has ruled that Telex Corp. cannot use an Oklahoma law to block an unsolicited takeover bid because the company, while having most of its assets in Oklahoma, is incorporated in Wilmington, Del. Telex has been trying to fight off corporate raider Asher B. Edelman, who has launched an $876.2-million tender for the company. Edelman and a group he controls, TLX Partners, already own 7.7% of Telex. On Oct. 8, the group launched a takeover bid for the remainder at $65 a share.

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