OTHER NEWS - April 5, 1995
<i> Times Staff and Wire Reports</i>
FMC Bids $223 Million for Moorco: FMC Corp. made the unsolicited bid for Houston-based Moorco International Inc., a manufacturer of industrial measurement and control products. Moorco had no immediate response to the proposal. In a letter to Moorco Chairman Michael L. Tiner, FMC Chairman Robert N. Burt said FMC will consider offering a higher price if Moorco can demonstrate additional value in negotiations. Investors bid up Moorco’s stock price on the news. Moorco rose $7.75 a share to $21.375 on the New York Stock Exchange; FMC was down 25 cents at $60.75. FMC is a Chicago-based maker of chemicals, agricultural machinery and military vehicles.
