Computer Associates Restates Revenue Again
Date: 15 June 2004
By Bloomberg News
Bloomberg News
Computer Associates International restates revenue for first three quartes of its 2004 fiscal year, adding to $2.2 billion company has restated since it uncovered misreported sales dating to 2000; revenue in nine months ended Dec 31 is cut to $2.43 billion from $2.44 billion; Securities and Exchange Commission and Justice Department are probing company's accounting (S)
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Sterling Financial to Buy Pennsylvania State Banking
Date: 15 June 2004
By Bloomberg News
Bloomberg News
Sterling Financial Corp, which operates 56 banks in Pennsylvania, Maryland and Delaware, acquires Pennsylvania State Banking Co for about $44 million (S)
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Financier Increases Offer for Horizon Natural Resources
Date: 15 June 2004
By Bloomberg News
Bloomberg News
Wilbur L Ross and group of shareholders of coal producer Horizon Natural Resources increase their bid for company by 16 percent, to $277.4 million; some creditors, including Deutsche Bank and unsecured creditors' committee, withdraw earlier objections and support new bid (S)
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Prime Medical Will Pay $145 Million for HealthTronics
Date: 15 June 2004
By Bloomberg News
Bloomberg News
Prime Medical Services acquires HealthTronics Surgical Services Inc for about $145.9 million in stock (S)
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Buyout Firm Wants a Lower Price for Duane Reade
Date: 15 June 2004
By Bloomberg News
Bloomberg News
Robert M Bass wants to cut $24.4 million from $700 million he agreed to pay for Duane Reade Inc because of higher costs at company; Bass's buyout firm Oaktree Hill Capital Partners proposes cutting cash portion of price to $16 a share, or about $391 million, from $17 a share; chain's agreement with Oak Hill, set to expire July 1, is extended to July 13 (S)
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Ford's Hybrid S.U.V. to Cost 15% More Than Gas Versions
Date: 15 June 2004
By Bloomberg News
Bloomberg News
Ford Motor Co says prices for its new gasoline-electric Escape, first sport utility vehicle to run on hybrid technology, will start at $26,380, about 15 percent more than models powered solely by gasoline (S)
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Jones Says Proxy Adviser Backs Maxwell Board Change
Date: 15 June 2004
By Bloomberg News
Bloomberg News
Jones Apparel Group says Institutional Shareholder Services recommends replacing Maxwell Shoe Co's board with five directors nominated by Jones; will give up its takeover bid June 20 if no agreement is reached or if it does not receive enough shareholder votes to replace Maxwell's board (S)
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World Business Briefing | Europe: Ireland: Drug Maker Expanding
Date: 15 June 2004
By Bloomberg News
Bloomberg News
Irish drug maker Elan Corp will invest 35 million euros ($42 million) in new plant in Athlone, creating 120 jobs over next five years (S)
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Trade Gap Widened in April As Car Imports Set Record
Date: 15 June 2004
By Bloomberg News
Bloomberg News
Commerce Department reports that US trade deficit unexpectedly widened in April to record $48.3 billion as imports of cars were highest ever; imports rose 0.2 percent, to $142.3 billion; exports fell 1.5 percent, to $93.9 billion; imports of goods and services rose 0.2 percent, to $142.3 billion; imports of autos and parts increased, to record $19 billion; value of oil imports fell, to $9.7 billion, from $10.2 billion previous month; US imported $30.8 billion worth of industrial supplies and materials, which include oil, $1 billion less than in March; exports fell 1.5 percent, to $93.9 billion; prices of goods imported into US rose 1.6 percent in May; retail sales rose 0.7 percent in May, after 0.1 percent decrease in April; graphs; photo (M)
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Technology Briefing | Hardware: Broadcom To Settle Microtune Lawsuits
Date: 15 June 2004
By Bloomberg News
Bloomberg News
Microtune says Broadcom Corp has agreed to pay $22.5 million to end all patent and antitrust litigation; one-time payment to Microtune is part of accord that also binds companies to license each other's technology (S)
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