Also . . .

TIG Holdings Inc., the holding company for Transamerica Insurance Group, said Canada’s Fairfax Financial Holdings Ltd. agreed to buy the company for $16.50 a share, or about $840 million, in cash. The troubled property-casualty insurer put itself up for sale in October.

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Williams Cos., the largest U.S. transporter of natural gas, said it agreed to buy 12 petroleum-product storage terminals from Chicago-based Amoco Corp. for an undisclosed price. Tennessee has three of the terminals; South Carolina, North Carolina and Alabama have two each; and Mississippi, Ohio and Florida have one each.

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* Fairchild Corp. said it plans to buy the remaining 15% of Banner Aerospace Inc. that it doesn’t already own, for about $40 million in stock in a move to streamline operations and reduce costs. The maker of aerospace equipment plans to offer Banner shareholders about $9.75 in Fairchild stock for each share in Banner, a supplier of aircraft parts.

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Promus Hotel Corp. named as its chairman, president and chief executive Norman Blake, who was chairman and CEO of USF&G; Corp. before it was acquired by St. Paul Cos. in April. * Neiman Marcus Group Inc. named Robert A. Smith, 39, chief executive, succeeding his father, Richard A. Smith, 74, effective immediately. The operator of upscale department stores said Burton Tansky, 60, will become president and chief operating officer, succeeding Robert Smith.

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Neiman Marcus Group Inc. named Robert A. Smith, 39, chief executive, succeeding his father, Richard A. Smith, 74, effective immediately. The operator of upscale department stores said Burton Tansky, 60, will become president and chief operating officer, succeeding Robert Smith.