Paine Webber Group denied rumors of an...

Paine Webber Group denied rumors of an imminent leveraged buyout. The investment firm said there was “no basis” for the rumors, which were apparently behind a surge in its stock price in heavy trading. Dow Jones News Service reported rumors that management and Yasuda Mutual Life Insurance Co., which holds an 18% stake in the firm, planned to take the company private or that Yasuda planned to purchase the company outright. Paine Webber stock closed at $18.625, up $1.625, on volume of 1.27 million shares. Volume has been averaging 90,000 shares daily.