Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, September 20, 1994 TAG: 9409230023
SECTION: BUSINESS PAGE: C-8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
WASHINGTON - AT&T, having cleared a final, major regulatory hurdle, closed a $12.6 billion deal on Monday to acquire McCaw Cellular Communications Inc.
The action came hours after the Federal Communications Commission agreed to the merger, 13 months after the deal was announced.
The commission approved transferring dozens of cellular licenses held by McCaw, the country's largest cellular phone operator, to telecommunication giant AT&T Corp.
Two regional phone companies, Bell Atlantic Corp. and Nynex, are fighting the merger in federal court in New York. A trial is scheduled Nov. 1. A ruling against AT&T could force the company to divest all or part of its holdings in McCaw.
- Associated Press
Coal production slips in report
CHARLESTON, W.Va. - Domestic coal production totaled 19.1 million tons during the week ended Sept. 10, which included the Labor Day holiday. The total was down 9 percent from the 20.9 million tons produced the previous week, the U.S. Department of Energy reported Monday.
The U.S. coal industry produced 17.2 million tons in the same week last year, according to the department's Energy Information Administration.
Domestic coal production so far this year is 717 million tons, 9 percent ahead of last year's production at this time.
- Associated Press
Nestle buys Alpo Petfoods
Pillsbury Co. of Minneapolis said Monday it has agreed to sell its Alpo Petfoods division to Nestle Holdings Inc. for $510 million. Alpo provides about 11 percent of Pillsbury's $4 billion annual revenues.
Swiss-based Nestle said it will integrate Alpo Petfoods into its Friskies PetCare division.
- Wire report
by CNB