Norton Tender Results Favor Victory by BTR

Britain’s BTR PLC moved closer to victory Friday in its hostile effort to take over Norton Co., announcing that almost two-thirds of Norton’s stock was tendered under BTR’s $1.64-billion buyout offer.

While there are still a number of obstacles to a takeover of the Worcester, Mass.-based plastics and ceramics company, the one-sided tender result was another setback in Norton’s effort to remain independent.