Dow Chemical plans chargeDow Chemical Co. said it would...

BUSINESS DIGEST

January 16, 1993

Dow Chemical plans charge

Dow Chemical Co. said it would take a $430 million pretax charge to restructure its basic-chemicals operations. The chemicals giant said it will close plants, cut jobs and divest certain businesses because of slimming profit margins and increased global competition.

Hylind infoQuest to be sold

Information America Inc. of Atlanta said it had signed an agreement to buy Hylind infoQuest Inc. of Baltimore. Privately held Hylind provides public record searching and filing and document services for law firms, financial institutions and others. The company has 11 offices throughout the United States and about 100 employees.

Euro Disney chief resigns

Robert J. Fitzpatrick, a Baltimore councilman in the 1970s and former dean of students at the Johns Hopkins University, has resigned as chairman of Euro Disney SCA, the European theme park operator that is 49 percent-controlled by the Walt Disney Co. He will be replaced by Philippe Bourguignon, who was named president of Euro Disney in September and has been overseeing daily operations.

The company said Mr. Fitzpatrick would start an international consultancy in Paris and would continue to serve on the management board of Euro Disney and as a consultant to Walt Disney Co. Euro Disney said 1992 results were hurt by the lower-than-expected levels of attendance, hotel occupancy and per-capita spending.

Comsat plans stock split

Washington-based Comsat Corp. said yesterday that it plans a two-for-one stock split, and that its board approved an increase in the quarterly dividend to 37 cents a share from 35 cents, payable March 8 to holders of record Feb. 12. The split, which is subject to shareholder approval, would be effective about June 1.

UPS orders 30 Boeing jets

United Parcel Service ordered 30 Boeing 767 jetliners and took options on another 30, a deal potentially worth $5 billion for Boeing Co., the aircraft manufacturer said yesterday.

The orders launched the 767 freighter, an all-cargo aircraft based on the 767-300 twin-engine passenger jet widely used on long-haul routes.

Cookie-maker seeks higher bid

The board of Australian cookie-maker Arnotts Ltd. said its independent directors have rejected an increased takeover bid by Campbell Soup Co. The directors called for an even higher offer yesterday. On Thursday, Campbell lifted an October offer of $5.90 per share to $6.40. The soup maker said the new price was its final offer.

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