Waverly Inc. of Baltimore agreed to acquire Harwal Publishing, a Media, Pa.-based medical text publisher, from John Wiley & Sons for undisclosed terms. Waverly already has a sizable medical text publishing business.
Philips Industries shareholders have approved the acquisition of their company by Tomkins PLC of Britain in a deal valued at $570 million. Philips, based in Dayton, Ohio, makes windows and other housing components. Tomkins is a holding company of businesses whose products include lawn mowers and guns.
Bethlehem Steel announced a joint venture with Chavanne-Ketin of France that will produce and sell cast iron rolls. The new company, named Centec, broke ground for an advanced spin caster that will be installed at the American firm's facility in Bethlehem, Pa.
National Intergroup agreed to seek buyers for its drug distribution company, Foxmeyer Corp., as part of a peace pact with businessman Melvyn J. Estrin of Washington. The company also agreed to pay $4.2 million in legal costs incurred by Estrin's investment group. Buck Mickel was elected chairman to replace Howard M. Love, who will continue as chief executive officer until March.
Reuters Holdings said its chief executive, Glen Renfrew, sold 20 percent of his holding in the company, or 0.05 percent of the firm's outstanding stock, for $3 million.
Sprint and Portugal's phone company have agreed to jointly explore the possibility of developing a new transatlantic fiber optic cable system.
Saul Bluestone, a member of the board of Zenith Laboratories, settled insider trading charges with the Securities and Exchange Commission. Bluestone was accused of selling his stock after learning that the drug maker was considering filing for bankruptcy and passing on the information to four members of his Detroit law firm.
The Interstate Commerce Commission said it will temporarily allow businesses selling diesel fuel to file independent, fuel-related tariff increases on one working day's notice -- on the condition that the proceeds from such emergency increases are passed on to individuals or firms actually bearing the burden of increased fuel costs.
American Airlines ordered 100 mid-range passenger planes from a French-Italian joint venture. The value of the order was estimated to be $1 billion.
PEOPLE John F. Downey was appointed deputy director for regional operations at the Office of Thrift Supervision.