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CONFERENCE PARTICIPANTS: Yuzuru Abe, Nippon Steel Corp.; Tadashi Arita, The Fuji Bank, Ltd.; Tatsuro Goto, Mitsui & Co., Ltd.; Nobuya Hagura, Dai-Ichi Kangyo Bank; Akira Harada, Matsushita Electric Industrial Co., Ltd.; Shoji Kambara, Ricoh Co., Ltd.; Kiyoshi Kawashima, Honda Motor Co., Ltd.; Kaoru Kobayashi, Institute of Business Administration and Management; Kazutoyo Komatsu, Trio Electronics, Inc.; Tatsuya Komatsu, Simul International, Inc.; Masao Kunihiro, Kokusai Shoka College; Teiji Makikawa, Fujitsu Ltd.; Isao Makino, Toyota Motor Sales Co., Ltd.; Jiro Mayekawa, Teijin Ltd.; Yohei Mimura, Mitsubishi Corp.; Masafumi Misu, Hitachi, Ltd.; Rihei Nagano, Kubota, Ltd.; Yoshio Narita, Yamaichi Securities Co., Ltd.; Yoshiro...
...targets are Oasis Oil Co., which is owned by Continental Oil, Marathon Oil, Amerada, Hess and Royal Dutch/Shell; American Overseas Petroleum Ltd., owned by Texaco and Standard of California; and Occidental Petroleum. Negotiations between Oasis and the Libyans over the 50% demand had been proceeding fitfully for months until last week. Then Gaddafi called a Tripoli press conference and produced a couple of Israeli grapefruit that he said had been confiscated by Libyan workers at a pipeline terminal run by Oasis, the largest foreign producer. He accused Oasis of allowing Israeli spies to operate in Libya disguised as oil workers...
...looked like the ultimate humiliation for Rolls-Royce Motors Ltd. In late March, the famous company was put on the auction block-and last week it developed that nobody wanted to buy it at a price acceptable to Bankruptcy Receiver Edward Rupert Nicholson. He had asked companies interested in purchasing Rolls to submit sealed bids, which were opened last week. No foreign company made a bid, because the British government would not have let a foreign purchaser use the Rolls-Royce name. Ten British bids were received, but all were below the $120 million or so that London financiers once...
...that it was getting the highest possible price. The stock offering, which will enable Rolls-Royce to continue as an independent company, is highly popular with the British public; some 200 London investment groups have lined up for a piece of the stock. Creditors of the old Rolls-Royce Ltd., which went bust in 1971, may be less pleased. They will get the proceeds from the stock sale, but those will fall far short of clearing the $300-odd million in debts that the company ran up building advanced-design aircraft engines. Payment of the rest will have to await...
...eleven-year-old thalidomide war (TIME, Jan. 22) may finally be over. This month the giant Distillers Co. Ltd. made a new offer of more than $50 million in compensation to the parents of the 398 British children who were born deformed after their mothers took the tranquilizer. The parents are expected to accept the settlement-one of the largest multipayouts in medical history...