OTHER NEWS - Sept. 23, 1994
Magma Power Co. said it hired independent financial and legal advisers to review California Energy Co.’s bid to acquire Magma for $35 a share, or $840 million. . . . The House of Representatives has voted to allow the U.S. government to buy 44,000 acres of privately owned California redwood forest in an effort to end a bitter dispute between environmentalists and a timber company owned by Maxxam Inc. . . . Mattel Inc. announced that it will begin manufacturing and marketing Cabbage Patch Kids in 1995 through an exclusive worldwide licensing agreement with Original Appalachian Artworks Inc., the creator of the dolls. . . . Owens-Corning Corp. announced it has created a new glass fiber that is easier to use and more economical than traditional Fiberglas. . . . The House of Representatives approved changes in a 108-year-old maritime law to help American ports break into a lucrative cruise ship business dominated by foreign vessels and foreign ports.
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