Plessey

Britain's monopolies monitoring commission gave its conditional approval today to a hostile joint takeover bid for the electronics group Plessey by General Electric Co. of Britain and Siemens AG of West Germany. The Anglo-German bid, announced last November, would create one of Europe's biggest electronics groups, capable of competing with the industry's giants in North America and Japan. Plessey Co. PLC fought hard against the unwanted $2.9-billion bid, launching several unsuccessful court attempts to remain independent.

Plessey Electronics Systems Corp. in San Marcos won a $426,766 contract from the Army to provide maintenance and repair of equipment.

Plessey Electronics Systems Corp. in San Marcos won a $426,766 contract from the Army to provide maintenance and repair of equipment.

Britain's General Electric Co. PLC and West Germany's Siemens AG today made a fresh offer for Plessey Co. PLC that values the British electronics company at $3.3 billion. The $4.46-a-share offer followed Wednesday's news that the joint bidders had reached an agreement with the British government on conditions for a renewed bid. Plessey shares sank 20 cents a share to $4.36 on London's Stock Exchange after the news.

Plessey Semiconductors, a subsidiary of the Plessey Co. of Great Britain, said that it has moved from its previous Irvine location into a new location within the Irvine Spectrum office complex. Plessey said it signed a 10-year, $5.7-million lease for 59,600 square feet. The company will occupy about 35,000 square feet and sublet the rest to an as yet undetermined tenant.

The government said today it will study further the $3-billion joint bid by General Electric Co. PLC and Siemens AG for Plessey PLC to determine its possible impact on competition in Britain's electronics industry. The decision temporarily blocks the bid from proceeding but allows the two bidders to hold under 15% of Plessey's stock. The bidders quickly increased their stake in Plessey to 14.9%, from about 3%, following the government's announcement.

British electronics firm the Plessey Co. announced Monday that it had secured three multimillion-dollar overseas defense contracts. The company said in a statement it had signed a 4-million pound ($7.4-million) contract with the Swedish Royal Navy to update sonar systems on Sea Serpent class submarines with its Hydra advanced sonar. In a 2-million-pound ($3.7-million) deal with the Canadian government, Plessey said it would supply four Shield anti-ship missile decoy systems.

Distributed Logic Corp. of Anaheim said it is negotiating to buy the Plessey Peripheral Systems Inc. unit of the Plessey Co. of Essex, England, as well as two PPSI subsidiaries. The purchase price would be less than $10 million, the company said. Distributed Logic officials said they hope to close a deal in two or three weeks to buy PPSI of Irvine and its sales and service companies in Toronto and in Towcester, England, about 60 miles northwest of London. No definite agreement has been reached.

Britain and the European Community launched separate monopoly inquiries Thursday into a hostile Anglo-German takeover bid for leading British electronics firm Plessey Co. The bid, made in November by Siemens AG of West Germany and Britain's General Electric Co. (GEC), is worth $3 billion (1.7 billion pounds) and, if successful, would create one of Europe's biggest electronics concerns. Industry analysts said the investigations would give Lazard Bros.

Britain's General Electric Co. PLC and West Germany's Siemens AG today made a fresh offer for Plessey Co. PLC that values the British electronics company at $3.3 billion. The $4.46-a-share offer followed Wednesday's news that the joint bidders had reached an agreement with the British government on conditions for a renewed bid. Plessey shares sank 20 cents a share to $4.36 on London's Stock Exchange after the news.

General Electric Co. PLC and Siemens AG reached an agreement with the British government on conditions for resuming their joint bid for Plessey Co. PLC, the government said today. The British and German electronics giants have pledged to remedy public interest questions identified by the Monopolies and Mergers Commission, the Department of Trade and Industry said in a brief statement.

Britain's monopolies monitoring commission gave its conditional approval today to a hostile joint takeover bid for the electronics group Plessey by General Electric Co. of Britain and Siemens AG of West Germany. The Anglo-German bid, announced last November, would create one of Europe's biggest electronics groups, capable of competing with the industry's giants in North America and Japan. Plessey Co. PLC fought hard against the unwanted $2.9-billion bid, launching several unsuccessful court attempts to remain independent.

Britain and the European Community launched separate monopoly inquiries Thursday into a hostile Anglo-German takeover bid for leading British electronics firm Plessey Co. The bid, made in November by Siemens AG of West Germany and Britain's General Electric Co. (GEC), is worth $3 billion (1.7 billion pounds) and, if successful, would create one of Europe's biggest electronics concerns. Industry analysts said the investigations would give Lazard Bros.

The government said today it will study further the $3-billion joint bid by General Electric Co. PLC and Siemens AG for Plessey PLC to determine its possible impact on competition in Britain's electronics industry. The decision temporarily blocks the bid from proceeding but allows the two bidders to hold under 15% of Plessey's stock. The bidders quickly increased their stake in Plessey to 14.9%, from about 3%, following the government's announcement.

Britain's General Electric Co. and Siemens AG of West Germany joined forces Wednesday in a $3-billion (1.7-billion-pound) bid for Plessey PLC, but the leading electronics firm, which is GEC's main British rival, rejected the bid. The takeover, if successful, would create a European electronics and defense conglomerate with interests ranging from radar to telecommunications and nuclear power plants. But Plessey, a major defense contractor with U.S.

British electronics firm the Plessey Co. announced Monday that it had secured three multimillion-dollar overseas defense contracts. The company said in a statement it had signed a 4-million pound ($7.4-million) contract with the Swedish Royal Navy to update sonar systems on Sea Serpent class submarines with its Hydra advanced sonar. In a 2-million-pound ($3.7-million) deal with the Canadian government, Plessey said it would supply four Shield anti-ship missile decoy systems.

General Electric Co. PLC and Siemens AG reached an agreement with the British government on conditions for resuming their joint bid for Plessey Co. PLC, the government said today. The British and German electronics giants have pledged to remedy public interest questions identified by the Monopolies and Mergers Commission, the Department of Trade and Industry said in a brief statement.

General Electric PLC of Britain, Britain's largest electronics firm, announced Tuesday a proposed $1.72-billion merger with Plessey PLC, a major British aerospace and electronics company. General Electric PLC, which is not connected with the U.S. company of the same name, said that it wanted to create an electrical and electronics group that could compete worldwide.

Distributed Logic Corp. of Anaheim said it is negotiating to buy the Plessey Peripheral Systems Inc. unit of the Plessey Co. of Essex, England, as well as two PPSI subsidiaries. The purchase price would be less than $10 million, the company said. Distributed Logic officials said they hope to close a deal in two or three weeks to buy PPSI of Irvine and its sales and service companies in Toronto and in Towcester, England, about 60 miles northwest of London. No definite agreement has been reached.

Plessey Semiconductors, a subsidiary of the Plessey Co. of Great Britain, said that it has moved from its previous Irvine location into a new location within the Irvine Spectrum office complex. Plessey said it signed a 10-year, $5.7-million lease for 59,600 square feet. The company will occupy about 35,000 square feet and sublet the rest to an as yet undetermined tenant.