Acme General OKd a sweetened buy-out offer.

The San Dimas-based firm said terms of a definitive agreement call for a leveraged buy-out at $16 per share in cash, up from a previous $15-a-share offer. The buy-out group includes First Capital Corp. of Chicago, a subsidiary of First Chicago Corp.; institutional investors, and existing management of Acme General Corp. Under the agreement, First Capital Corp. was granted rights to acquire 217,839 shares at $15 a share, which may be exercised if the proposed transaction is not completed.