Also . . .

* British electricity producer PowerGen is buying East Midlands, which provides electricity in Britain, from Dominion Resources Inc. of Richmond, Va., for $3.15 billion. The company would not comment on rumors that it is also interested in buying Texas utility Houston Industries Inc.

* Walgreen Co., the nation’s largest drugstore operator, said its fiscal third-quarter earnings rose 18% to $127 million, or 25 cents a diluted share, from a year ago, in line with estimates, as sales rose 14% to $3.89 billion. Sales in stores open at least a year jumped 8.9%.

* Meredith Corp. agreed to sell its Better Homes & Gardens Real Estate Services business to General Motors Acceptance Corp., GM’s financing arm that also offers nationwide mortgage banking. Terms were not disclosed. Meredith said it is selling the business to focus on its core publishing and television operations.