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

DATE: SATURDAY, December 10, 1994                   TAG: 9412120055
SECTION: BUSINESS                    PAGE: A8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

IN BUSINESS

A federal judge has issued a final order in Tyson Foods' unsuccessful bid to overtake WLR Foods Inc., the company said Friday. U.S. District Judge James H. Michael Jr. affirmed his earlier rulings, saying that Virginia corporate laws used by WLR as a defense against a hostile takeover attempt by Tyson Foods were binding and lawful.

"We certainly hope that after the repeated refusals of our shareholders to Tyson Foods, and now this clear denial of Tyson's legal claims in federal District Court, that Tyson Foods will not continue to cost our shareholders continued litigation expenses through appeals," WLR President and CEO James Keeler said.

Tyson Foods started its takeover attempt in January with an offer of $30 per share of WLR Foods common stock. Tyson withdrew the offer Aug. 5 after it had been rejected five times. The company, however, continued to pursue legal challenges to Virginia laws and against WLR directors.

- Staff report

Halmode parent sells division

Kellwood Co., St. Louis parent of Halmode Apparel Co. of Roanoke, said Friday it has sold assets of its home fashions division to Trendline Home Fashions Inc. of Perry, Ga. Terms of the sale were not disclosed, but Kellwood said proceeds will be used to acquire apparel companies.

- Staff report

Bankruptcies

Four bankruptcies with business affiliations have been filed in the U.S. Bankruptcy Court for Western Virginia at Roanoke. One of them is a personal bankruptcy that the court listed as a business because it has commercial connections and could be of interest to business creditors and customers.

Southwest Virginia Bonding Agency Inc. of Lebanon filed for liquidation. John W. Cox, president, said it had assets of $26,314 and liabilities of $10,832,266.

Mary Christine McCall of Wirtz filed for a wage-earner plan for repayment of debts, listing assets of $156,300 and liabilities of $89,725. She operates Dillon's Produce and Grocery country store at Wirtz.

Wayne and Linda Stanley, trading as Wayne Stanley Trucking, filed for liquidation. The court record listing assets and liabilities was unavailable Friday.

Catherine Jane Sharpe of Roanoke asked for liquidation with assets of $6,591 and liabilities of $74,324. She formerly operated as You Call, We Haul.

- Staff report