Centel-Sprint merger voted onCentel Corp. officials said...


December 03, 1992

Centel-Sprint merger voted on

Centel Corp. officials said yesterday that they believe they won shareholder approval to merge with fellow phone company Sprint Corp., passing the biggest roadblock in one of the year's most contested buyouts. But a large number of proxy votes -- votes from shareholders not at the meeting -- kept the company from claiming victory, Centel Chairman John Frazee said. Centel officials said they would not release any vote totals until Dec. 11.

Sprint stockholders, at their own meeting yesterday in Kansas City, approved the merger, Sprint said.

FMC, Harsco to combine units

In another sign of the shrinking defense industry, FMC Corp., maker of the military's Bradley Fighting Vehicle, said yesterday that it and Harsco Corp. intend to combine key divisions. FMC said the two companies signed a letter of understanding to combine FMC's Defense Systems Group and Harsco's BMY Combat Systems Division, which is a leading maker of artillery and armored vehicles.

Banks discuss check processing

Seeking to slash costs and use excess back-office capacity, NationsBank Corp. is talking with Chemical Banking Corp. and BankAmerica Corp. about setting up a joint check-processing "utility." Sources close to the discussions said International Business Machines Corp.'s technology services unit and Electronic Data Systems Corp. are also involved in the early stages of an effort to build a network of check-sorting and clearing centers.

Eisner wins Legent account

Eisner & Associates, a Baltimore-based ad agency, has won the advertising account for Legent Corp., a Vienna, Va.-based software company with $400 million in annual sales, Legent announced yesterday.

Safety violations charged

The Occupational Safety and Health Administration (OSHA) has charged a Finksburg construction company with digging unsafe trenches while working on a building at the National Institutes of Health.

OSHA has proposed a $65,250 penalty against Starrett Construction Co. for allegedly sending workers into trenches that were inadequately sloped and improperly shored up. Edward Starrett, owner of the firm, said he would fight the charges. He declined to comment further on the case.


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