Two Pennsylvania congressmen introduced a bill intended...

Two Pennsylvania congressmen introduced a bill intended to block a $1.69-billion takeover of Koppers Co. by Beazer PLC of Britain with the help of Shearson Lehman Hutton Inc. Beazer’s hostile bid for Pittsburgh-based Koppers has led to a public outcry centered around the loss of 1,000 Rust Belt jobs if Beazer makes good on its plan to sell Koppers’ chemical sector. The House bill is aimed primarily at Shearson. It would bar a financial services company that owns a non-bank bank from taking more than a 5% equity interest in a company not involved in financial services. A non-bank bank is a financial institution that provides only partial banking services. Shearson owns a non-bank bank, Boston Safe Deposit & Trust Co.