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» - MANCHESTER HERALD. Wcdneiday. Dec. 18. I W SPORTS FOCUS U.S./WORLD Courtroom is battleground Turgeon hat trick Office partying? Smokers costly in Carbide takeover drama douses iRames Don’t biow it! to an employer ■v Pttor S, Hq w m UJ tage to friendly acquirers over tlve merger partner if it could Til* AuoclotMl Prcu those making hostile bids. quickly settle litigation over the ... page 11 ... page 15 ... page 19 1,757 deaths in a chemical leak DANBURY - The fight for ON DEC. 1$, GAF launched a from a company factory last year control of Union Carbide Corp. $4*-per share bid for Union Car in Bhopal, India. moved from a federal courtroom in bide that it sweetened to all-cash Now Haven to one in New York several days later. Carbide re SOURCES CLOSE TO the settle today a i GAF Corp. tries to quash sponded Sunday with a ’’poison- ment process have been quoted Carbide’s takeover defense. pill” defense designed to make an recently as saying that out-of-court On Tuesday, a federal Judge in unfriendly acquisition prohibi talks among Union Carbide, lawy New Haven said he would rule tively expensive. ers and the government of India Thursday on a request by GAF to ’The defense includes'an offer to have escalated with the company have a lawsuit filed against it by buy as much as 70 percent of the softening its position. Carbide has Union Carbide either dismissed or company's stock for $20 in cash not publicly commented on the transferred to New York. and debt securities it values at $65 progress of the talks. fKaurlirstrr Hrralft Carbide filed the lawsuit on per share if GAF acquires SO According to Tuesday’s edition Manchester — A City of Village Charm Monday as part of its defense percent or more of Union Carbide’s of the Wall Street Journal, so- against GAF’s hostile, $4.3 billion outstanding stock. called golden parachutes would be takeover bid. But In court on Meanwhile, Union Carbide said offered to 42 executives of Union Tuesday, GAF argued that the in documents filed with the Securi Carbide in the event of an un action should have been filed as a ties and Exchange Commission friendly change of control. The Thursday, Dec. 19,1965 Single copy: 250 counter-claim to a lawsuit GAF that it was considering other documents did not list the value of filed the same day in U.S. District defensive actions that include a severance contracts that could be Harild pholot by SivM * Qburt in New York. friendly merger with a company awarded to all 42. GAF asked U.S. Distict Judge other than GAF or the sale of some Union Carbide spokesman Ed O fficials Jose A. Cabranes to either dismiss of its large assets. Van Den Ameele confirmed Tues Coming to town Farm measure Carbide's lawsuit or move it to Also, the company was reported day that the company had offered a Now York, where GAF’s own to have offered its five top severance package to its execu Santa Claus is making regular appear Parkade Saturday through Tuesday. lawsuit was scheduled to be heard executives at least $8.75 million in tives on Oct. 22, but he would not ances during the Christmas shopping Right, Lloyd Smith and Lucille Giguere review ing tUs afternoon by U.S. District special compensation — so-called confirm the figures. season at the Manchester Parkade and appear as Mr. and Mrs. Claus at the Judge Andrew Pollack. golden parachutes — in the event However, the Journal reported in downtown Manchester. Left, Fred downtown Manchester Mall, listening to awaits action Cabranes said he would rule of an unfriendly takeover. that at least $8.75 million would go Thursday on GAF’s request. A Carbide spokesman would not to the company’s top five officers, Peck greets shoppers outside Liggett's the wishes of Frank Bell of Manchester. tax o ffer In the New York case, GAF elaborate on the SEC filings, in representing payment of about at the Parkade. Santa will be back at the Santa will be at the mall again Saturday. accuses Union Carbide of using its which it did not rule out a friendly three times their average annual By John F. Kirch defense to illegally frustrate merger with another company. compensation. Herald Reporter GAF’s bid by confusing share Wall Street analysts have said from Reagan Of that amount, $2.87 million holders and giving unfair advan Carbide would be a more attrac- would go to Chairman Warren M. Dollar mixed in European trading South Windsor officials said Anderson. The next four execu today they will review a proposal tives under Anderson are Alec LONDON (UPI) - The dollar pared with 51.42, and in Paris to almost a pfennig to 2.5085 marks made by the developers of the Firm sues over ‘monopoly" Flamm. vice chairman; James M. opened mixed in quiet trading on 7.6745 francs, compared with from 2.5170 and in Milan it feii Capitol Hill says planned Winchester Mall to create Rehfield; executive vice presi world money markets today, trad 7.6725. siightiy to 1,713 lire, compared a special taxing district that would MILWAUKEE (U PI) - The had a "monopoly” on "Monopoly.” dent, J. Clayton Stephenson, exec ing in a narrow range, dealers But in Frankfurt the doilar shed with 1,714.30 Tuesday. guarantee Manchester almost 40 makers of the half-century old Citigames President David Col utive vice president and chief said. percent of the revenues generated board game "Monopoly” say the bert said he didn’t know what all financial officer; and Elio E. Gold eased between $1 and $2 an president will sign by the mall. Wisconsin producer of a board the flap was about, adding that his Tarika, executive vice president. ounce. ANSWERS TO THE QUIZ South Windsor Manager Richard game is trespassing on its game had been selling for six years Van Den Ameele said the sever In London a pound bought WORLDSCOPE; 1-Andrei Sakharov; 2-Uranui; 3-Creat Britain; 4- Sarior said today that he has result of a year of struggle to property. and the U.S. Supreme Court ruled ance offer was made "to permit $1.4377, against $1.4382 at Tues comk-strip arlisli; 5-Yugoslavia By Jim Drinkard discussed the idea of a tax district reconcile powerful and competing Kenner Parker Toys Inc., Bev three years ago "monopoly” was a top management to focus on day’s close. NEWSNAME: Pope fohn Paul II; Roman Catholic The Associated Press with the developers, Bronson and forces; a deep and extended erly, Mau.. filed suit in federal generic term. serving the best interests of MATCHWORDS; 1-c; 2-e; 3-b; 4-a; S-d Hutensky of Bloomfield and Mel court Tuesday seeking an injunc An attorney for Kenner Parker WASHINGTON - President depression in the farm economy; vin Simon and Co. of Indianapolis, shareholders. These contracts The dollar also moved ahead in PEOPLEWATCH/SPORTLICHT: 1-Barbara SIreiiand; 2-|ohn tion preventing Citigames of said the Supreme Court had not Reagan will sign the 1955 farm bill massive budget deficits and the but has not studied it in detail. The give them the financial security to Zurich to 2.1070 francs from 2.1033, Lennon; 3-baseball; 4-lighlweighl; S-spitball America Inc., of Oshkosh, from ruled On an appeals’ court decision do that.” in Brusseis to 51.48 francs, com on Monday, despite its expense and need to cut federal spending; and a plan would give Manchester 38 using the word "monopoly” in its that the term was generic. But he the mixed policy outcomes for the slump in farm exports, which percent of the tax dollars from the real estate-trading game, "Home said subsequent legislation in administration, congressional traditionally have been the back entire development, even though town Monopoly.” Congress overruled the appeals sources said today. bone of U.S. foreign trade. less than 38 percent of the taxable In effect, Kenner Parker said it court. Agriculture Secretary John ’The administration won victo property would be located in Block scheduled a news confer ries on several important fronts, Htrald photo by Bathaw Manchester. ence to announce the decision, and the foremost of which was the issue Sartor said he received a letter SURGEON GENERAL'S WARNING: Smoking sources on Capitol Hill said the of commodity price supports. The Jim McMahon, left, and Bill Copeland of Center School. The $74,000 project, from the developers this week that supports for export-dependent president had decided to approve Premier Roofing Co. of West Haven which began on Nov. 18, is almost outlined the plan. Santa has a Causes Lung Cancer, Heart Disease, the legislation despite objections crops such as corn, wheat, cotton, "W e told them that if they want Emphysema, And May Complicate Pregnancy. from some In the administration. rice and soybeans will be substan brave the cold Wednesday to install complete after numerous delays caused to make a formal proposal, we Holiday Festival Many members of Congress, tially reduced and tied more aluminum trim on the new roof at Bolton by the weather. would discuss it with the 'Town which passed the bill on W^nes- closely to prices on world markets, Council,” Sartor said. He said the day, had urged the presideik to rather than being set at arbitrary developers would be invited to a of Value for approve It as a compromise that levels decided by Congress. council meeting in January to Kings, 17 mg. "tar". 1.2 mg.