OTHER NEWS - Feb. 25, 1995
<i> Times Staff and Wire Reports</i>
Hostile Suitor to Nominate Teledyne Slate: Steel maker WHX Corp. advised the Century City-based conglomerate that it intends to nominate its own slate of eight directors--including WHX Chairman Ronald LaBow--as part of its previously announced bid to gain control of Teledyne and put the company up for sale. Teledyne, whose annual meeting is April 26, blasted the move as a “thinly veiled attempt” by WHX to pursue its earlier effort to buy Teledyne for $1.2 billion, which Teledyne rejected. Meanwhile, WHX said it plans to sell about 40% of its Wheeling-Pittsburgh Corp. steel unit to the public in an initial offering.
