Pittsburgh-based Allegheny International Inc. said it signed...

Pittsburgh-based Allegheny International Inc. said it signed a definitive merger agreement with a unit of Donaldson, Lufkin & Jenrette Inc. to take over the company, best known for its Oster and Sunbeam appliances . . . Postal Instant Press Inc. announced the closing of PIP’s acquisition by a company owned by members of senior management, Kane-Miller Corp. and certain of its stockholders. Stockholders of record as of Feb. 22 will receive $15.50 cash per share . . . The Investment Company Institute said assets of the nation’s 445 money market mutual funds rose $3.25 billion in the week ended Feb. 22 to an all-time high of $292.39 billion . . . Financial Corp. of Santa Barbara said it is discontinuing the payment of common stock dividends that had been paid at an annual rate of 10 cents per share to strengthen capital and core earnings . . . Pan Am and Malev Hungarian Airlines have announced a joint venture to provide the first regular nonstop New York-Budapest, Hungary, service beginning May 18.