Resorts International sold a block of Pan...

Resorts International sold a block of Pan Am stock. The 7.5-million-share block brought $5 per share. The stock represents about 5.5% of the airline company’s outstanding shares, heightening speculation that a takeover bid for Pan Am might soon emerge. Pan Am has been the subject of takeover rumors for some time, largely because of financial problems that have depressed its stock price and because of its valuable assets, such as its European and Middle East routes.