Hanson Selling Smith Corona Shares: Hanson PLC,...

Hanson Selling Smith Corona Shares: Hanson PLC, which took over Smith Corona Corp. in 1986, announced that it plans a public offering of up to 15.75 million shares of its subsidiary. Hanson, which said it had filed with the Securities and Exchange Commission for approval of the offering, said it expected the shares to sell for between $23 and $25 each. The proceeds of the offering will go to Hanson, the company said in a statement. If all of the 15.75 million shares are sold, Hanson will retain approximately 46.3% of the stock in typewriter maker Smith Corona. Hanson, whose U.S. arm is Hanson Industries, is a London-based conglomerate that also owns Ground Round restaurants, Kaiser Cement, Endicott Johnson shoes, Jacuzzi Whirlpool Baths and Farberware cookware.