Gulf & Western and Warner Communications have...

Gulf & Western and Warner Communications have confirmed that the Justice Department will not challenge Warner’s acquisition of a 50% interest in Gulf & Western’s domestic movie theater operations . . . Eli Lilly & Co. completed the sale of its Elizabeth Arden cosmetics subsidiary for about $700 million . . . Sears, Roebuck & Co. completed its acquisition of Eye Care Centers of America for $52.4 million . . . Chicago-based Tribune Co.’s board declared a stockholder rights plan under which it will distribute one preferred share purchase right for each outstanding share of its common stock . . . Stratus Computer, a Marlboro, Mass.-based supplier of advanced multiprocessing computers for on-line transaction processing, said a subsidiary will launch a direct sales force in France.