New United Artists stock rose to $14.
The closing price Friday was up about $1 from Thursday, incorrectly reported at $16.75 in Friday’s editions of The Times because of erroneous information. The issue has been trading over the counter on a “when issued” basis since Tuesday. The stock is expected to be issued Tuesday after the simultaneous closings of Turner Broadcasting’s purchase of MGM/UA Entertainment and the sale of the new UA for $9 a share to MGM/UA’s controlling shareholder, Kirk Kerkorian. In turn, he is selling about 14% of it to public shareholders of MGM/UA.
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