British Paper's Sting Nets an Earl and a Scolding From a Judge
Date: 24 September 1999
By Sarah Lyall
Sarah Lyall
Judge, in harsh challenge to news-gathering techniques used by some British newspapers, criticizes News of the World for allowing two of its reporters to dress up as rich Arabs, pretend to want to buy motor scooters from a peer, and then ply him with expensive food and alcohol until he sold them cocaine; after an elaborate sting leaves peer, 10th Earl of Hardwicke, drunkenly snorting cocaine while boasting about how he could get some any time, News of World runs full report, plus pictures; Earl is arrested and jury convicts him of selling drugs, but sends highly unusual note to judge saying that Lord Hardwicke, 29, sold drugs only under 'extreme provocation'; judge lets verdict stand, but rules that Lord Hardwicke would not be sentenced to prison, scolding journalists involved (M)
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CHEMDEX SHARES SOAR ON NEWS OF PROMEDIX PURCHASE
Date: 23 September 1999
By Bloomberg News
Bloomberg News
Shares of Chemdex Corp rise 16 percent after it says it will buy Promedix.com for about $388.7 million in stock to begin selling medical products to hospitals (S)
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WESTWOOD COMPLETES ITS PURCHASE OF METRO NETWORKS
Date: 24 September 1999
By Bloomberg News
Bloomberg News
Westwood One Inc completes its purchase of Metro Networks Inc for $1.2 billion in stock, making it number 1 provider of traffic news; Westwood approves buyback of as much as $200 million of its stock, or about 8 percent of its shares outstanding; CBS Corp owns about 25 percent of Westwood One (S)
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I.B.M. AGREES TO ACQUIRE INTERNET SECURITY COMPANY
Date: 23 September 1999
By Bloomberg News
Bloomberg News
IBM acquires Internet-security company Dascom Inc for undisclosed price to strengthen its on-line commerce business (S)
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TEXTRON FINANCIAL AGREES TO BUY LITCHFIELD FINANCIAL
Date: 24 September 1999
By Bloomberg News
Bloomberg News
Textron Inc's Textron Financial Corp acquires Litchfield Financial Corp for about $183 milion in cash (S)
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2 COMPANIES TO BUY ROYAL BANK PROPERTIES
Date: 23 September 1999
By Bloomberg News
Bloomberg News
Oxford Properties Corp and Ontario Municipal Employees Retirement System acquires 33 properties from Royal Bank of Canada for $827 million (Canadian), or $559 million (US); companies will then sell 22 of properties to group led by GE Capital Canada Inc for $216 million (Canadian); most of buildings, including bank's headquarters building in downtown Toronto, are in Ontario (S)
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3 COMPANIES ARE BUYING $400 MILLION IN NEWBRIDGE GEAR
Date: 24 September 1999
By Bloomberg News
Bloomberg News
Newbridge Networks Corp, Canadian maker of networking equipment, will sell at least $400 million of gear to France Telecom SA, Toshiba Corp and Argentine-based unit of BellSouth Corp (S)
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CISCO SYSTEMS SET TO BUY WEBLINE FOR $325 MILLION
Date: 23 September 1999
By Bloomberg News
Bloomberg News
Cisco Systems Inc buys Webline Communications for $325 million in stock (S)
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CITY NATIONAL TO BUY PACIFIC BANK FOR $153 MILLION
Date: 23 September 1999
By Bloomberg News
Bloomberg News
City National Corp acquires Pacific Bank for $153 million in cash and stock (S)
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SPRINT PCS TO BUY MOTOROLA PHONES FOR $250 MILLION
Date: 23 September 1999
By Bloomberg News
Bloomberg News
Sprint PCS, wireless division of long-distance carrier Sprint Corp, will buy more than $250 million worth of Motorola Inc's new digital wireless phones for its wireless Internet service that will allow users to make both calls and access the Internet (S)
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