Las Vegas-based Alliance Gaming Corp. said a federal court cleared the way for its $70.2-million cash offer for 5.4 million of Bally Gaming International Inc. shares. Bally Gaming had sought a preliminary injunction against Alliance's tender offer on grounds of inadequate disclosure. . . . Los Angeles-based Northrop Grumman Corp. said it signed agreements to continue to produce nacelle systems--systems for engine housings that surround and integrate the aircraft's propulsion system--and components for Fokker, Gulfstream Aerospace Corp. and Lockheed Martin Corp. in arrangements that combined could be worth as much as $600 million through 2005. . . . An involuntary Chapter 11 petition filed by bondholders of Seven-Up/RC Bottling Co. of Southern California was dismissed, following an agreement between the Vernon-based company and its creditors. . . . Cereal maker Kellogg Co. said it will close its San Leandro, Calif., factory by early December to cut excess capacity. Kellogg, which said Aug. 1 that it was considering closing the plant, said the 325 employees affected will be offered early retirement, transfers, severance pay and job-hunting help.
Times Staff and Wire Reports
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