HEALTH CARE
From Times Staff and Wire Reports
American Home Sues Cyanamid, Lines Up Financing: American Home Products Corp. is accusing American Cyanamid of depriving shareholders by ignoring American Home’s $8.5-billion tender offer, and said it has the backing of a unit of Chemical Bank to finance the deal. The suit asks the U.S. District Court in Portland, Me., to block Cyanamid from seeking protection under the anti-takeover laws of Maine, where Cyanamid is incorporated. It also seeks to strike anti-takeover defenses from American Cyanamid’s charter.
