Kohlberg Kravis Roberts & Co. and K-III...

Kohlberg Kravis Roberts & Co. and K-III Holdings Inc. acquired the direct-marketing group of Macmillan Inc. and the assets of Intertec Publishing Corp. for a total of $310 million . . . Philadelphia-based SmithKline Beckman Corp. said it expects to report second-quarter earnings per share of 92 to 95 cents, compared to 79 cents in 1988s second quarter . . . J.C. Penney Co., the Dallas-based retailer, has acquired 9.86%, or 637,948 common shares, of Shop Television Network Inc. of Los Angeles . . . The Federal Reserve reported that the average yield for one-year T-bills, the most popular index for making changes in adjustable-rate mortgages, fell to 7.97% last week, from 8.28% the week before . . . Wells Fargo Bank has agreed to sell its equipment financing subsidiary to Osterreichische Laenderbank AG, Austria’s second-largest commercial bank.