OTHER NEWS - Feb. 4, 1995

Dalgety to Pay $700 Million for Quaker Pet Food Unit: The food conglomerate Dalgety said it has agreed to pay $700 million to purchase the European pet foods business of Chicago-based Quaker Oats Co. Dalgety will be getting key brands, including Felix cat foods and Fido dog foods, that will strengthen its position in a growing $7.8-billion market. To finance the deal, Dalgety plans to raise nearly $300 million from its shareholders. The London-based company also plans to sell two foods businesses, Golden Wonder, which makes snack foods such as potato chips, and Homepride Foods, which specializes in cooking sauces, for an anticipated $480 million. Dalgety expects that within three years, the Quaker deal will generate $64 million in benefits annually.