Castlegar News Aprit 2, 1986

BUSINESS

NEW YORK (CP) — Vancouver's Belzberg family
has dropped its $1.8-billion bid to4take over Ashland Oil
Inc. and agreed to sell the stock it has acquired back to
the Kentucky company.

The Belzbergs, citing Kentucky takeover laws and
Ashland’s rejection of their $60-a-share buyout offer,
announced the decision Tuesday in Vancouver, headquar-
ters of the family’s First City Financial Corp. Ltd.

Ashland, whose board was to meet later in the day to
approve the deal, will pay $51 a share for the 2.6 million
shares the Belzbergs acquired prior to announcing their
bid last Tuesday.

All of the stock was originally purchased at less than
$48.25 a share, the opening price for Ashtead stock last
week on the New York Stock

Stock analyst accuses
Belzbergs of 'greenmail’

‘The value of Ashland stock, which climbed to $55.25
pipettes hn a yah
to $51.50 Monday when it became evident the
were not going to accept the offer,

The new Kentucky regulations, which have yet to be
tested in court, were not considered an insurmount.
able barrier to a hostile takeover, many Wall Street
analysts said last week.

Several analysts immediately accused the Belzbergs
of “greenmail” — of having used takeover threats to push
up the value of the stock, without ever intending to follow
through on the purchase.

“It's greenmail, another case of greenmail,” said

profit from the settlement could be more Prive $7 million.
The Belzbergs, who have earned more than $90

million in similar stock transactions in the past, had given

Ashland until Monday to respond to their bid,

threatening a hostile takeover. Last Friday, the company

inereased the pressure on the company's directors, filing

with U.S. authorities for permission to take over the
company

La Tween, a stock analyst with Kidder, Peabody
and Co. in New York.

‘Tween said the average price of the shares acquired
by the Belzbergs could be around $41, meaning their take
could run as high as $30 million.

The board of Ashland, the 14th-largest oil company
in the United States, is also to consider restructuring the
company, which has already undergone important
reorganization and cost-cutting in recent years.

Hiram Walker deal made

TORONTO (CP) — Allied-Lyons PLC, a major British
food and beverage producer, has emerged as the buyer of
the liquor business of Hiram Walker Resources Ltd. for $2.6

Hiram Walker had said Monday it had reached
agreement with a major international corporation to sell the
company’s liquor assets, but that it couldn't name the

billion, Allied-Lyons and Hiram Walker d Tuesday.

In a statement, Hiram Walker said it has had “a long
and productive working relationship” with Allied-Lyons, the
United Kingdom agent for a number of well-known Hiram
Walker brands including Canadian Club rye and Ballantine's

seotch.

Fingas

In addition, Allied. oe has a gf al cent interest in
Corp., which

is offering to

purchase

slightly less than one-half of Hiram Walker’s voting shares.
Forty-nine per cent of Fingas is owned by Hiram Walker.
The BAT foe theile ts Gileet + move hy. Cull Connte

Corp. oe aeewe. Ceres ot Tavern. Wetoen
“The board

ds that

and strongly
Hiram Walker shareholders reject the partial offer that has
been made by Gulf Canada,” said the Hiram Walker release.

Decision

on mine

expected soon

11 whether to close down the
Black Angel Mine in Green-
land this year or to continue
operations into 1987. The
mine is operated by Vest-
gron's wholly-owned subsidi-
ary, Greenex A/S.

Greenex informed Vest-
gron in February 1986 that in
order to continue operations
beyond 1986 an equity in-
jection in Greenex of 70
million Danish knoner
(approximately $12 million)
was required.

Vestgron retained an inde-
pendent investment dealer to
advise it on the possibilities
of raising additional capital,
and asked Cominco Ltd.,
Vestgron’s major sharehold-
er, to consider whether, if a
rights issue were made to
Vestgron's shareholders,
Cominco would commit to
take up its pro rata share of
the offering and any other
shares which were not sub-
seribed for.

Cominco informed
Vestgron that in its view the
Greenex proposal for contin-
uation into 1987 is not viable
and that Cominco is not pre-
pared to make the requested
investment under current
conditions.

Vestgron has concluded
that in the absence of further
support by Comineo there is
no alternative means where-
by Vestgron could raise the
necessary funds to permit
operations to continue be
yond 1986.

“The decision to close
down in 1986 has not yet
been made, and underground
drilling is commencing in the
Deep Ice Zone, which could
lead to improvement in the
quantity and grade of the ore
reserves,” the company says
in a prepared release.

Unless, b , there is a
major change in circumstan-
ces, it appears probable that
Greenex will be compelled to
announce by April 11 the
decision to close down.”

In that event, as previous-
ly announced, the Danish
government or its nominee
will have the right to pur-
chase the shares of Greenex
held by Vestgron at the
liquidation value of Greenex.

If operations cease on June
1, 1986 as contemplated by
the agreements with the
Danish government and
Greenex’s major creditors,
and if current metal price
levels persist for the re-
mainder of 1986, little or
nothing will be received by
Vestgron on the liquidation
of Greenex or on the sale of
the shares of Greenex.

Whether your name storts
with A or M, or X, Y or Z
You'll find
Business Directory
advertising pays.

PHON!

365-5210

CBRE BOR
FRANK’S
SHARPENING
SERVICE
CASTLEGAR, B.C.
(Behind “Castle Theatre”)

blodes. shears, etc!

PROMPT
SERVICE

365-7395

Okanagan College is now accepting

applications for the following
two year career programmes

Civil Engineering Technology
Fine Arts ( Foundation )
Consider a future with Okanagan College

For turther intormation please contact

Okanagan
College

Okanagan College Admissions Office
1000 K.L.O. Road, Kelowna, B.C. V1Y 4X8 :

until reg 'y filings had been completed.

‘Allied-Lyons operates in the United Kingdom, Europe,
the United States, Africa, Australia and Asia. It employs
45,000 workers.

Hiram Walker said the Gulf bid — $32 a share for 40
million common shares and $28 5/8 for | 18. 5 million Class D
voting p shares —
the value of the company. If all shares were © tendered to
Gulf, it would give the company about 52 per cent of the
voting shares.

AMENDS OFFER
The Gulf bid was due to expire April 4 but Gulf amended
the offer Monday and the Toronto Stock Exchange said it
would be postponed.

Fingas, originally set up as a wholly owned, non-operat
ing subsidiary of Hiram Walker, is offering $40 a share for 50
million common shares, or slightly less than half.

‘The remaining 22 per cent of Fingas is owned equally by
two private investors, said Hiram Walker.

Hiram Walker said the cash offer by Fingas will permit
individual shareholders to realize a capital gain on the sale of
their shares, and not be subject to a taxable dividend which
would have been the case if Hiram Walker itself had
purchased the shares.

Gulf had no immediate comment on the Allied-Lyons or
Fingas deals, which threatened to thwart its bid for Hiram
Walker.

Under the original $1.2-billion offer for 38 per cent of
the outstanding voting shares, Gulf said it would pay $28 5/8
a share for any and all Class D preferred voting shares, and
$32 a'share for up to 26 million common shares. The number
of common shares to be purchased would hinge on the
number of Class D shares tendered.

porterhouse

steak
kg. 8.77

cut trom Canede
grade A beet

outside round

. 398

sirloin tip

steak
kg 6.57

cut from Caneda

grade A beet

cut from Canado
rade A beet

eye of round

steak
kg. 8.77

steak
kg. 6.35

cut from Canada

288
grade A beet

tender-
loin rss 1°8

AD EFFECTIVE
APRIL 3-6
Toeaseay tare

PLAZA SUPERVALU
OPEN SUNDAYS
11:00 A.M. - 5:00 P.M.

cut from Canada grade A beet

wing or

t-bone 388
kg. 8.55 w.

cut from —

rade A beet

2 98

steak
288

inside round

steak
kg. 6.57

2%

tenderized hip
. 398 steak

kg. 6.57

cut from Canada grade A beet

298

sirloin
steak..ss:..

and Seafood

Seatood * frozen * meat only * Cuban

Jobster snaronesn 6°
tails 0.37.46 w.

food * frozen * IQF * Hong Kong style

BANKING JUST GOT

With MASTERI"

redit

mach x

1 hanallinys ve
hequing account That
of all your monthly 5
ht Unwer statement

Using credit just got cheaper

MASTERPLAN'” xtves
MasterCard card, but
to your chequing 4

with other bank cards) Th

card interest rates and youll pay it only

time its in use

Getting cash just got simpler

W your Credit Union has aut
machine tacts, your Cred:

card doubles as your cash access card. 1"
sat cash with your Credit Union S
any of more than 102.000

throughout the world
Getting MASTERPLAN ™ is the
easiest of all

Just drop in at your nearest 4
Union ter tull details and an apple ation t

ating, Credit

Castlegar Savings

i d
ray an Wb. 5 .99
7.99

Seafood ¢ frozen * 30-40 count

Japanese
scallops ...17.61 w.

pacific sole
fillets .,.8.77 ».

fresh

=

fats

kg. 6.57

3.98 | :

pacific

snapper
fillets 298

i3”| =

. 298
298

tresh Ideho

trout

tresh
oysters aay pS

8 oz. cup

FRESH SEAFOOD——4

Seatood * frozen

alaskan
king crab

legs and claws kg. 10.98 w.

Ass

salmon 1 18

Seatood*trozen  Seatood*trozen —_Seatood * frozen
imitetion otlantic

crab heel
sealegs me 1 28
high 2.82 Ib.

1%
Son pke.
Seatood * frozen

Seatood + frozen eastern * smoked
pink cod '

salmon cod
steaks 448 +0 fillets | 299
kg. 3.26 lb.

Seafood * frozen
whole * head off

pink

2-5ib.
average

kg. 2.60 w.

kg. 6.59 Ib.

Seatood * frozen

Seatood * frozen orange

2

kg. os a

Seatood * trozen

rough s =
fillets 291b. 6 mae

from New Zealand kg. 14.29!b. 6

plus the savings from our four page flyer distributed earlier this week!

Purex * white
champagne ¢ yellow

bathroom

tissue 288

Purity

flour

10 kg. bag

all purpose

imported * Senada no. 1
green or red

4.78| rapes QQ

8 roll pkg.
Minute Maid ¢ frozen
concentrate

orange

Ferrwood or

pak
bread

sek

(5/454 g) * unsliced ¢ white
80% whole wheat

economy

Oventresh California grown

navel
oranges

19° 99

8 Ib. bag

1b Western (enadien (ompeny

PRICES EFFECTIVE « costiecird Ploxe
APRIL 3, 4,5&6 * Downtown

We Reserve the Right to Limit Quantities. While Stocks Last.

LAWNMOWER
TUNE-UPS

aaron net 1966

Includes . . .

Oil Change

ie cmcenes~ $1 995 |
Air Filter * Ci Fuel Tank

ca 12°!

Columbia Saws

199 Columbia Ave., Castlegar 365-2710

parts, $350.

1974 Fioo fi
FAIR GLASS Sn soweil Gner
WINDOWS & DOORS] Evenings, 265-2011.
* Overhead Doors
Call 365-2309 (anytime)
oe
1975 TOYOTA COROLLA,
$300, pang ‘iiing
trailer, trellices made '
365-2929. os
CRUSHED ROAD GRAVEL —
Truck load $198, Discount on
ovalible 365-2600."
IT’S ARRIVED!!
CARGILL FEEDS

SATELLITE) :
SALES

Complete systems
cvelleble! :
Starting ot

*1200

On the 5
availal

also
3s

it financing
le O.A.C.

View at
HILLTOP SERVICE
Or Call
LORNE FELLOWS:
365-2925

623 Columbia Avenve
365-6385

USED BOLENS Riding Mower
model 829 with self-storter, 28

single blade, $350. 365-3024.

25¢ for each time ad appears

MIDLAND
(Minimum charge 75¢.) condition. $300. 365-2397.

Black Sandy
Loam Topsoil
Gravel & Drain Rock

CALL 365-3315

per agote line tor
subsequent consecutive inser

Policy
Peyment may be mode by
je or Vise and

not advisable to send cash
moil. Clossitied

low, low, low

CHEESE

PRICES
Mother Nature's

trucks
1%
COW OR HORSE MANURE. $25

pickup load. We load. 365-
Biee'or Ory Creek Ronch, wer
Pork. 3/26

errr Try
VISION

bee ne re
14-FOOT SANGSTERCRAFT,
HP Evinrude motor a

ae vest we IS
Let the Castlegar News heip
stort that wondertul occasion

No better time than right now to discover

the amazing pulling power of our ads...
THIS SPACE AVAILABLE
Call our Advertising Department. . . 365-5210

Houy SMoKESsH ALL
“THAT TOPIX A
CeLIne I!

365-5210

SEE WHAT MARY KAY
COSMETICS con do for you. Call
~ 365-7

"RALEIGH module 10 —
bike, $100. 365-6516
WARN WINCH 000 Ib. Electric
368-

We

Ph. 368-8821

See You ot the
Castlegar Trode Fair!

CLEAN-SCENE

CARPET & UPHOLSTERY
LEANIN

© For the Cleanest Clean
you've ever seen...

We Guorantee It!

© FREE Estimates * CALL

J GRADUATION DRESSES WORN
bY sizes 7-8, $50 each. *
CEAPUNAI hay Soy sani
holds ‘4-sheet of paper. ~ Asking
$25, Phone 365-5012. wv

TILLER nes

asow
ree

Call Trewelax 365-3315

MOVING MUST
Bors, $75. &
used), $325.
new condition, (365-6092.
27

SELL — Monkey
stond (never
Bouncinette.

GOLF CARTS AND TRAMERS —

Just arrived. Call Nick, 365-5808.

va

SURPLUS SALES

357-2118

1% APOLLO ten-speed.

7. Pow condition, $80 O. Call

6823 after 4 p.m.
3/27
LARGE DELUXE CRIB ond maot-
$80. English

sriers ond ony
kind Ly miscellaneous construc-

3/28
Zway redio. Excellent
3/25

25
Apply Castlegar
Columbia Ave.. Castlegar. ttn/22

tress, ram, Ye
365-2777 a

Aluminum
Sheets
24%" x 36"

1t012
CASTLEGAR NEWS

197 Columbia Avenue
Castlegar

cludes stove, a

throughout,

space. Avoilsbles "April 15,
ge Clot wp 3/25

Stove,

7 BORM. mobile
inidge. wood-stove. Seton 3
° $27

AVAILABLE

money shored
eccommodations with 2 men in

ivate home. For

pri more
mation. 365-5255

3/25
MOBILE HOME ond property
Fully furnished, gas hea :
son

SPACIOUS |
Two
sq.ft. Near SHSS, utility room
living room, kitchen
ing spoce. Furnished
/month. Prompt main
tenance. No pets.

3564.
ONE BDRM. fully furnished
month.

APTS.
365-5338 or

Furniture for Sole

Phone 399-4793

ee

‘ast'egar News,

and cost-efficient advertising
program For $119 per
Weck we can place your 25
Word “blanket Classified ad. in
than 700,000 homes. Your
Action Ad will appear in nearly
80 community newspapers wil
@ than 1.5 million readers!
Rnd there is o $10 discount tor
cash. Call our Action Ad number
365-2212 for detoils tin/86

2 WOODEN BARRELS; good for
planters Wrore $10 wach. 365-
3/25
may advertise in this column
free of charge. Up to two items
may be odvertised but the or
Mrelgs mutt not total over $40 ond
‘och item myst hove a price
stated. We will run your ad tor
three issues.

Two-Galion
PAILS

ONLY

*1.50

Print your Action Ad on o
seporate piece of paper ond
mait to:

All advertisements such os
Help Wanted must comply
with the British Columbio
Act. This Act

meoy

WILL PREPARE si inc:
food bosis of on applicant's | returns $15. 160 Columbio Ave.
2, religion, colour, marital | 365-2904 ofter 5 p.m.
oy ploce of | UsED GUN
origin, sex (unless the
matter py to the mein.
tenance of public decency

__ V4
Cash or trode. Wises

Rossland. 1-362-5171

INCLUDE THE PRICE: When

price.
H no price is

3/28

EACH

Heavy duty all-purpose
plastic poils with tight-fitting
covers and handles.
Need cleaning. $1.50 each
CASTLEGAR NEWS
197 Columbia Ave.

_3/26

A.K.C. REG.

POMS

AVANABLE

Litters expected regulorty
Alt colors incl. part-colors © bene, Wash

509-442-3870

WANTED: To ae od
Western Saddle

SEAMLESS 5” GUTTERS
Heavy aluminum, con
tinuous Syear leokproot guaran

Free e@stimotes. Coll Mr.
Gutter. 365-3240. 104/23

USED LUMBER, various types ond
365-3079 327

ROOSTER REDI-MIX now hos ¥
soil and manure tor sole. 355
2570. eu
tickets to Van
st be used before
ioee Coll 365-7015 etter
3

Two aa BC
couver
a

coasters 7

ae BED on
Coleman cance, 2-paddies. 2

Comperette 1 ond 2

insulated
sinc! reasonable’ et
Jers. 365-689) after 5.30 p.m.
2

2 BORM. HOUSE. Poss Creek
tridge, stove, $250/month. 365.
5994. 7/4
2 “BDRM. apartment. Stove
joundry tecilities, $295
ments. 366-0069. 9794
Aport ts. a 1m
SELKIRK MANOR
bedroom eperiments
starting ot Quiet well
cored fe Basing Fridge, stove
365-27:

ine
tin/20

365-5442

OR LEASE, 3 bdrm. home, 3 stoll
garoge. Gorden space. . fruit
freee, quiet setting in Thrums

7/26

ONE BDRM... was!
in loundey room vility space.
a _V%
wORM DUPLEX am
Private driveway,
entrance. South Castlegar. $250
Bor month. No pers please. 365.
26
semi-furnished suite.

BORM
Available Ma 1, Utili
included 550-7th A
Castlegor. 352

IMMACULATELY CLEAN, fully
furnished 2 bdrm. duplex in
WOODLAND
PARK HOUSING

CO-OP
2 and 3 Bedroom
Units Available.

365-2677

rm. apartment
Wheelchair facilties available
For more intormation call 365
6213 tin/81
AFFORDABLE 2 ond 3 bdrm.

5 mate

liconts

Nijhuis 365-2667. B.C. Housii
c VB

| contained
The

365-6213
or 365-7661

pets ers 5119.

7 BORM. trailer. Furnished cor
peted $245 / jennie Costtegar
erea. 365-7:

FULLY SENOvANOS”
ed’ «

spacious

location

Ideal tor students, contractors

‘ond the retired, Monthly rent of
qi

Weekends anytime.

DELUXE DUPLEX, 3. bdrm... c/w
fridge. stove, dishwasher

small court in
satellite TV, olso
t wood stove
399-4701

TRAILER space
Tarrys. Ci
12x68" airti
fridge. stove.

7 BDRM. HOUSE, Robson, stove.
utilities ‘not included. $275/mo
fons ctowed. 308 20-3000. V2

Family otmosphere

very quiet
bedroom

Bedroom $325.2

3 bedroom, $385.
Coll 365-7161 or
Q °.

ation ‘mon.
th. Available May 1. 365-5138.
wa

3 BDRM. HOUSE

Call 365-6753

Aver 6 p.m. ter barter

7 BDRM, TRAILER, Ootisch on
$225/month. 365-3922. 3/27
Betchelo site, *0n

"

2 BDRM. house, downtown. 810 -
- Street 365-7542. Call coftecs

KENMORE

HOUSE BOAT 8x25 se

contained. For sale or trade for

trailer, lot in, Rospberty or Rob
a7

Cen icist on i= sole. § miles trom

MUST SELL — 5 acres. $15,000
firm. 365-6011 ttn/83

FREE
Property
Evaluation
Service

Good
condition. $100. 365-7381. 3/25
PANASONIC Microwave oven.
1.4 cy. ft. excellent condition
$150. 365.7613. 277

SMALL ELECTRIC “tiller, $7:

Senior Citizens moy

items for sale in this column tree
of charge. Please coll 365-2212
oie haw have your Fomenere Cord

GIGANTIC MOVING OUT SALE!
Farm supplies. electric fencing
end electrical sup.

separator

lurniture, clothes. dishes

etc. SATURDAY APRIL 5 & SUN

DAY APRIL 6 — 9:00 a.m. - 5:00

m. Take highway 3A

eacres bridge (! mile before

the Slocen Junction) then bar ye
opener 227

MULTI-FAMILY SALE — 543 - 11th
Avenue, 10 o.m. - 1 p.m. April 5

ru

MULTL-FAMALY GARAGE SALE
Soturday, April 5. 9.a.m. - 4 p.m
ineme inthydy: World Wor 1 8.11
ont 4 ome,

is, be
clothes dryer
762-10th Ave.. Costiegar

TAGE. 7 plus

te private

cluded, isolated

000. 509-838

thn/2!

One ACRE land in Thrums. 399
772

a 120 BEAUTIFUL view lot
Voykin Subdivision, 352-9448 of
ter4 tint)

here HIGHWOOD 14x70 3
b fireploces. includes
tr die stove & drapes. 399-4418.
123

MUST SELL — 1978 mobile home
Excellent condition, 3bdrms. |
boths. finished porch 8x16
stove. fridge, drapes. Asking
$13,000 4320 otter 5 p.m
72

USED
MOBILE HOMES
2.14824
on or off property

NORTHWEST HOMES

4375 Columbie, Castiegor
365-355!

6500