
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, March 7, 1990                   TAG: 9003071898
SECTION: BUSINESS                    PAGE: C-6   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

STAUNTON CFW OKS ANTI-TAKEOVER PLAN

Directors of CFW Communications Co., holding company for the Clifton Forge-Waynesboro Telephone Co., have adopted a shareholder-rights plan designed to protect them from abusive takeover tactics and attempts to acquire the company at an inadequate price. The action is not in response to any specific threat to acquire control, and the company does not know of any such effort, said Robert S. Yeago Jr., president of the Staunton firm.

The purpose of the plan, he said, is not to guarantee that the company will not be acquired but to persuade any large buyer of its stock to deal directly with the board. Yeago said the plan does not prevent company directors from considering a purchase offer believed to be in the interest of stockholders. - Staff report

by CNB