COMPANY TOWN ANNEX
From Times Staff and Wire Reports
Seagram Increases Stake in Time Warner: The distiller said it purchased an additional 5 million shares in February for about $193 million, bringing its total stake to 13.1% of Time Warner’s outstanding shares. Seagram previously said it might acquire up to 15% of the entertainment and media giant. Time Warner last month adopted a tough “poison pill” provision designed to thwart the accumulation of more than 15% of its stock unless the buyer bids for the entire company.
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