ROANOKE TIMES 
                      Copyright (c) 1995, Roanoke Times

DATE: Tuesday, December 5, 1995              TAG: 9512050072
SECTION: BUSINESS                 PAGE: C-8  EDITION: METRO 

IN BUSINESS

NS says 38 clerks have left

The majority of the Norfolk Southern Corp. unionized clerks in Roanoke who accepted a job buyout offer by the railroad in October have left the company, NS said Monday.

So far, 38 of the 45 clerks, who were offered $35,000 each by NS to voluntarily leave, have left, spokesman Bob Auman said. Three clerks who accepted the offer have since decided to stay, he said.

The remaining four are expected to leave by the end of the year but also have the option of changing their minds, Auman said.

Clerks are represented by the Transportation Communications Union.

- Staff report

Uni-Marts cancels its merger offer

Uni-Marts Inc. said Monday that it has withdrawn its offer to merge with Dairy Mart Convenience Stores Inc.

Under the terms of the offer, which was made Nov. 15, Uni-Marts would have paid Dairy Mart stockholders $8.20 per share of common stock, excluding the shares controlled by the company's majority stockholder, Charles Nirenberg. A separate $13 million purchase agreement was made with Nirenberg and his associates.

According to reports published by Dairy Mart on Dec. 1, the transaction with Nirenberg had been completed. But the reports went on to say that financing for the transaction resulted in an additional $13.5 million debt and a number of other charges that would have had a negative impact on Dairy Mart's operations.

Uni-Marts chairman Henry Sahakian said the company withdrew its offer largely because of the increase in debt.

Pennsylvania-based Uni-Marts operates 414 East Coast convenience stores, including 17 stores in the Roanoke and New River valleys.

- Staff report

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