y
# extract sentences from document
get_sentences <- function(doc)
# extract sentences from document, also remove punctuation
# in sentence
get_sentences_without_punctuation <- function(doc)
# find longest word in document
find_longest_word <- function(doc)
# find longest sentence in document
find_longest_sentence <- function(doc)
# extract words in document
get_words <- function(doc)
# get part of speech tag of every word in document
get_pos <- function(doc)
# find word in all documents, return document number
# line number and word index
search <- function(word)
Following functions are used in (d)-(g)
require(tm)
require(NLP)
require(openNLP)
get_sentences <- function(doc) {
doc <- as.String(doc)
anno <- annotate(doc, Maxent_Sent_Token_Annotator(la
nguage = "en"))
sentences <- doc[anno]
return(sentences)
}
get_sentences_without_punctuation <- function(doc)
{
sentences = get_sentences(doc);
R functions Written by me
for(i in 1:length(sentences))
{
sentences[i] = removePunctuation(sentences[i
]);
}
return (sentences);
}
find_longest_word <- function(doc, lang = "en")
{
words = get_words(doc);
arr = seq(1, length(words));
for(i in 1:length(words))
{
arr[i] = nchar(words[i]);
}
ind = which(arr==max(arr));
return (words[ind]);
}
find_longest_sentence <- function(doc, lang = "en")
{
words = get_sentences(doc);
arr = seq(1, length(words));
for(i in 1:length(words))
{
arr[i] = nchar(words[i]);
}
ind = which(arr==max(arr));
return (words[ind]);
}
get_words <- function(doc) {
doc <- as.String(doc)
t <- annotate(doc, Maxent_Sent_Token_Annotator(language =
"en"))
sentlen = length(t)
anno <- annotate(doc, Maxent_Word_Token_Annotator(languag
e = "en"), t)
sentences <- doc[anno]
sentences = sentences[(sentlen+1):length(sentences)]
return(sentences)
}
get_pos <- function(doc) {
doc <- as.String(doc)
anno_w <- annotate(doc, list(Maxent_Sent_Token_Annotator(l
anguage = "en"), Maxent_Word_Token_Annotator(language = lang
)))
anno_pos <- annotate(doc , Maxent_POS_Tag_Annotator(), ann
o_w)
tmp <- subset( anno_pos , type == "word")
pos <- sapply ( tmp$features , '[[', "POS")
tx <- sprintf ("%s/%s", doc[tmp] , pos )
ty <- paste ( tx , collapse = " ")
return ( ty )
}
Try the functions in lecture
a
This shows generally common English words which makes sense.
This shows words associated with "states". Words such as bodies contract make sense, because
we have bodies states contract states .
The 15 longest documents(in number of words).
b
dendrogram and the WordCloud
c
dendrogram
word cloud
longest word and longest sentence
d
e
sentence without punctuation
> for(i in largestInd)
+ {
+
+ cat(“document “, i, “\n”);
+
+ sentences_without_punc = get_sentences_without_punctuation
(acq[[i]])
+
+ print(sentences_without_punc)
+
+ cat(“\n”)
+ }
document 7
[1] “American Express Co remained silent on\nmarket rumors
it would spinoff all or part of its Shearson\nLehman Brother
s Inc but some analysts said the company may be\nconsidering
such a move because it is unhappy with the market\nvalue of
its stock”
[2] “American Express stock got a lift from the rumor as th
e\nmarket calculated a partially public Shearson may command
a\ngood market value thereby boosting the total value of Am
erican\nExpress”
[3] “The rumor also was accompanied by talk the financial\n
services firm would split its stock and boost its dividend”
[4] “American Express closed on the New York Stock Exchange
at\n7258 up 418 on heavy volume”
f
[5] “American Express would not comment on the rumors or it
s\nstock activity”
[6] “Analysts said comments by the company at an analysts\n
meeting Tuesday helped fuel the rumors as did an announcemen
t\nyesterday of management changes”
[7] “At the meeting company officials said American Express
\nstock is undervalued and does not fully reflect the perfor
mance\nof Shearson according to analysts”
[8] “Yesterday Shearson said it was elevating its chief\nop
erating officer Jeffery Lane to the added position of\npresi
dent which had been vacant”
[9] “It also created four new\npositions for chairmen of it
s operating divisions”
[10] “Analysts speculated a partial spinoff would make most\
nsense contrary to one variation on market rumors of a total
\nspinoff”
[11] “Some analysts however disagreed that any spinoff of\nS
hearson would be good since it is a strong profit center for
\nAmerican Express contributing about 20 pct of earnings las
t\nyear”
[12] “I think it is highly unlikely that American Express is
\ngoing to sell shearson said Perrin Long of Lipper Analytic
al”
[13] “He questioned what would be a better investment than a
very\nprofitable securities firm”
[14] “Several analysts said American Express is not in need
of\ncash which might be the only reason to sell a part of a
strong\nasset”
[15] “But others believe the company could very well of\ncon
sidered the option of spinning out part of Shearson and one\
nrumor suggests selling about 20 pct of it in the market”
[16] “Larry Eckenfelder of PrudentialBache Securities said h
e\nbelieves American Express could have considered a partial
\nspinoff in the past”
[17] “Shearson being as profitable as it is would have fetch
ed a\nbig premium in the market place”
[18] “Shearsons book value is in\nthe 14 mln dlr range”
[19] “Shearson in the market place would\nprobably be worth
three to 35 bilion dlrs in terms of market\ncapitalization s
aid Eckenfelder”
[20] “Some analysts said American Express could use capital
since\nit plans to expand globally”
[21] “They have enormous internal growth plans that takes\nc
apital”
[22] “You want your stock to reflect realistic valuations to
\nenhance your ability to make all kinds of endeavors down t
he\nroad said EF”
[23] “Hutton Group analyst Michael Lewis”
[24] “Theyve outlined the fact that theyre investing heavily
\nin the future which goes heavily into the international\na
rena said Lewis”
[25] “That does not preclude acquisitions and\ndivestitures
along the way he said”
[26] “Lewis said if American Express reduced its exposure to
the\nbrokerage business by selling part of shearson its sto
ck might\nbetter reflect other assets such as the travel rel
ated\nservices business”
[27] “It could find its true water mark with a lesser exposu
re\nto brokerage”
[28] “The value of the other components could command a\nhig
her multiple because they constitute a higher percentage of\
nthe total operating earnings of the company he said”
[29] “Lewis said Shearson contributed 316 mln in aftertax\no
perating earnings up from about 200 mln dlrs in 1985”
[30] “Reuter”
document 25
[1] “American Express Co rumored to be\nconsidering a spino
ff of part of Shearson Lehman Brothers Inc\nsaid it is study
ing a range of options for its brokerage unit\nthat could im
prove Shearons access to capital and help it meet\nbroadenin
g international competition”
[2] “In a joint statement American Express and Shearson sai
d\nthe actions under consideration are an integral part of\n
American Express worldwide financial services strategy and\n
that the two companies have been having both internal and\ne
xternal discussions on the matters”
[3] “American Express said no decision has been reached on
the\nstrategic options and that it and Shearson could ultima
tely\ndecide to follow growth plans already in place”
[4] “Last week rumors circulated on Wall Street that the\nf
inancial services giant was considering a spinoff of part of
\nShearson and there was speculation it may be considering\n
selling a stake to a Japanese firm”
[5] “Analysts said the\nspeculation also focused on America
n Express selling 20 pct of\nthe profitable brokerage firm t
o the public”
[6] “There was some speculation that American Express had a
lso\nconsidered a total spinoff of Shearson but the plan was
\nconsidered highly unlikely analysts said”
[7] “American Express said in the statement on Sunday that
it\nwill not comment on rumors and speculation and a spokesm
an\nwould not go beyond the statement”
[8] “The company also remained\nsilent last Thursday and Fr
iday as rumors drove American\nExpress stock up a total of 5
12 dlrs in two days to bring it\nto a Friday close at 74”
[9] “It said it issued the statement on Sunday because a\ns
imilar statement was being circulated to employees”
[10] “Analysts have been divided on whether it makes sense f
or\nAmerican Express to give up a stake in the whollyowned\n
brokerage which improved its aftertax earnings by about 50\n
pct in the last year”
[11] “Some analysts said American Express may consider spinn
ing\noff part of Shearson because it is concerned that its s
tock\nprice does not fully reflect the value of the brokerag
e firm”
[12] “Shearson contributed 316 mln dlrs of American Express\
n125 billion dlr net in 1986”
[13] “American Express ambitious plans for international gro
wth\nmay be also enhanced by the added cash that spinning ou
t part\nof Shearson would bring”
[14] “Analysts speculated that all of\nShearson would have a
market value of about 35 billion dlrs”
[15] “To some however the need for added capital is puzzling
”
[16] “American Express is in a position where they can raise
\ncapital if they need to said Larry Eckenfelder of\nPrudent
ialBache Securities”
[17] “Analysts said rumors were fed by the reorganization of
\nShearson management Wednesday”
[18] “Chief operating officer Jeffrey\nLane got the added pr
eviously vacant post of president”
[19] “The reorganization also created four new positions for
\nchairmen of Shearsons operating divisions a move analysts\
nspeculated would allow Shearson to be a stand alone company
”
[20] “Analysts contacted on Sunday said the statement does\n
little to clarify last weeks market speculation”
[21] “It does\nconfirm however that the financial services f
irm which\nunsuccessfully attempted to expand Shearson with
a major\nacquisition last year is looking beyond its own wal
ls for\ngrowth and positioning in the global market competit
ion”
[22] “Late last year Shearsons takeover offer to the EF”
[23] “Hutton Group Inc was rejected by Hutton and analysts s
aid\nthere had been speculation that Shearson also was rebuf
fed when\nit approached another major Wall Street brokerage”
[24] “Reuter”
document 29
[1] “New Jerseybased overnight messenger\nPurolator Courier
Corp said it has agreed to be acquired for\nabout 265 mln d
lrs by a company formed by EF”
[2] “Hutton LBO Inc\nand certain managers of Purolators US
courier business”
[3] “Analysts have said that Purolator has been for sale fo
r\nsome time”
[4] “Purolator announced earlier it was mulling a\ntakeover
bid but analysts wrongly predicted the offer was from\nanot
her courier company”
[5] “Hutton LBO a wholly owned subsidiary of EF”
[6] “Hutton Group\nInc will be majority owner of the compan
y”
[7] “Hutton said the acquiring company PC Acquisition Inc i
s\npaying 35 dlrs cash per share for 83 pct of Purolators st
ock\nin a tender offer to begin Thursday”
[8] “The rest of the shares\nwill be purchased for securiti
es and warrants to buy stock in a\nsubsidiary of PC Acquisit
ion containing Purolators US\ncourier operations”
[9] “If all the shares of Purolator are tendered shareholde
rs\nwould receive for each share 29 dlrs cash six dlrs in\nd
ebentures and a warrant to buy shares in a subsidiary of PC\
nAcquisition containing the US courier operations”
[10] “Hutton said in the merger shareholders would get 46 ml
n\ndlrs aggregate amount of guaranteed debentures due 2002 o
f PC\nAcquisition and warrants to buy 15 pct of the common s
tock of\nthe PC courier subsidiary”
[11] “Hutton said the company has valued\nthe warrants at tw
o to three dlrs per share”
[12] “Purolators stock price closed at 35125 dlrs on Friday”
[13] “While some analysts estimated the company was worth in
the mid\n30s at least one said it would be worth 38 to 42 d
lrs”
[14] “This follows sales of two other Purolator units”
[15] “It agreed\nrecently to sell its Canadian Courier unit
to Onex Capital for\n170 mln dlrs and previously sold its au
to filters business”
[16] “Purolator retains its Stant division which makes closu
re\ncaps for radiators and gas tanks”
[17] “A Hutton spokesman said the\nfirm is reviewing its opt
ions on Stant”
[18] “Purolators courier business has been lagging that of i
ts\nUS rivals because of the high price it paid in the past\
nseveral years to add air delivery to its ground fleet”
[19] “EF”
[20] “Hutton will provide 279 mln dlrs of its funds to\ncomp
lete the transaction”
[21] “This socalled bridge financing\nwill be replaced later
with longterm debt most likely in the\nform of bank loans H
utton said”
[22] “Hutton LBO is committed to\nkeeping the courier busine
ss its president Warren Idsal said”
[23] “Purolator lost 120 mln dlrs over the last two years\nl
argely due to US courier operations which we believe the\nma
nagement is turning around”
[24] “We belive it will be a very\nserious competitor in the
future said Idsal”
[25] “William Taggart chief executive officer of US Courier\
ndivision will be chief executive officer of the new company
”
[26] “The tender offer will be conditioned on a minimum of t
wo\nthirds of the common stock being tendered and not withdr
awn to\nthe expiration of the offer as well as certain other
conditions”
[27] “The offer will begin Thursday subject to clearances fr
om\nthe staff of the Interstate Commerce Commission and will
expire\n20 business days after commencement unless extended
”
[28] “Reuter”
document 47
[1] “Investor Sumner Redstone who leads\none of the two gro
ups vying for control of Viacom International\nInc offered t
o sweeten his bid for the company by 150 dlrs a\nshare cash
and 150 dlrs in securities”
[2] “In a filing with the Securities and Exchange Commissio
n\nRedstone who controls Dedham Massbased”
[3] “National Amusements\nInc a theater chain operator offe
red to raise the cash\nportion of its Viacom offer to 42 dlr
s a share from 4050 dlrs”
[4] “Redstone also raised the face value of the preferred s
tock\nhe is offering to 750 dlrs from six dlrs”
[5] “The Redstone offer which is being made through Arsenal
\nHoldings Inc a National Amusements subsidiary set up for t
hat\npurpose which also give Viacom shareholders onefifth of
a\nshare of Arsenal common stock after the takeover”
[6] “Viacom said earlier today it received revised takeover
bids\nfrom Redstone and MCV Holdings Inc a group led by Via
com\nmanagement which is competing with Redstone for control
of the\ncompany and already has a formal merger agreement w
ith Viacom”
[7] “The company did not disclose the details of the revise
d\noffers but said a special committee of its board would re
view\nthem later today”
[8] “The Redstone group which has a 195 pct stake in Viacom
\nand the management group which has a 54 pct stake have bot
h\nagreed not to buy more shares of the company until a merg
er is\ncompleted unless the purchases are part of a tender o
ffer for\nat least half of the outstanding stock”
[9] “The two rivals also signed confidentiality agreements\
nwhich give them access to Viacoms financial records provide
d\nthey keep the information secret”
[10] “In his SEC filing Redstone who estimated his cost of\n
completing the takeover at 295 billion dlrs said Bank of\nAm
erica is confident it can raise 2275 billion dlrs”
[11] “Besides the financing it would raise through a bank\ns
yndicate Bank of America has also agreed to provide a\nsepar
ate 25 mln dlr for the limited purpose of partial\nfinancing
and has committed to provide another 592 mln dlrs\nRedstone
said”
[12] “Merrill Lynch Pierce Fenner and Smith Inc has increase
d\nits underwriting commitment to 175 mln dlrs of subordinat
ed\nfinancing debt for the Viacom takeover from the 150 mln
dlrs\nit agreed to underwrite earlier Redstone said”
[13] “Redstone said his group would contribute more than 475
mln\ndlrs in equity toward the takeover”
[14] “The Redstone equity contribution to the takeover would
\nconsist of all of his groups 6881800 Viacom common shares\
nand at least 118 mln dlrs cash he said”
[15] “The new offer the second sweetened deal Redstone has\n
proposed in his monthlong bidding war with management also\n
contains newly drawn up proposed merger documents he said”
[16] “Last week the management group submitted what it calle
d\nits last offer for the company valued at 31 mln dlrs and\
nconsisting of 3850 dlrs a share cash preferred stock valued
\nat eight dlrs a share and equity in the new company”
[17] “Redstones\nprevious offer had been valued at 32 billio
n dlrs”
[18] “Reuter”
document 19
[1] “Swedens Wallenberg group fought back\na bid by the Lon
donbased Swedish financier Erik Penser to\nsecure a large st
ake in Swedish Match SMBS ST one of the\ncompanies at the co
re of their business empire”
[2] “A statement issued by the Wallenberg holding companies
AB\nInvestor and Forvaltnings AB Providentia said they had
taken\nover an option held by Nobel Industrier Sweden AB to
acquire 33\npct of the voting rights in Swedish Match”
[3] “Thre Wallenbergs paid Nobel Industrier NOBL ST in whic
h\nPenser group has a 72 pct stake about 20 pct over the mar
ket\nprice for the Swedish Match option the statement said”
[4] “Swedish Matchs B shares open to foreign buyers closed
at\n424 crowns on Friday”
[5] “The A shares with increased voting\nrights closed at
450 crowns for the restricted and 455 for\nthe free shares”
[6] “The statement said the deal increased Investors stake
to\n494 pct of the voting rights and 148 pct of the share ca
pital\nwhile Providentia is left holding 341 pct of the voti
ng rights\nand 145 pct of the share capital in Swedish Match
”
[7] “The Wallenbergs stake in Swedish Match had previously\
namounted to 52 pct of the voting rights in the company”
[8] “The Swedish Match deal will cost the Wallenbergs about
400\nmln crowns share analysts said making it one of the mo
st\nexpensise moves the group has undertaken in the last fou
r years\nto defend its farflung interests from outside preda
tors”
[9] “The Wallenbergs originally sold Nobel Industrier an ar
ms\nand chemicals group to Penser in 1984 to pay for buying
Volvo\nVOLV ST out of two other key group companies Atlas Co
pco\nASTS ST and Stora Koppabergs SKPS ST”
[10] “Since then the Wallenbergs were ousted as the largest\
nshareholders in SKF SKFR ST by Skanska AB SKBS ST and\nFred
erik Lundberg wrested control of Incentive AB from them”
[11] “Lundberg a Zurichbased Swedish property tycoon also\nm
anaged to acquire a 25 pct stake in another Wallenberg\ncomp
any the diary equipment firm Alfa Laval AB ALFS ST”
[12] “During 1986 the Wallenbergs have been concentrating on
\nbuilding up their stake in Investor and Providentia to pre
vent\nany raid on the heart of their business empire”
[13] “But analysts say the Wallenbergs position in the\nelec
trical engineering firm ASEA AB ASEA ST is also too small\na
t 126 pct of the voting rights and there has been growing\ns
peculation that the group will be forced to sell off fringe\
ninterests to protect its core activities”
[14] “REUTER”
document 4
[1] “ChemLawn Corp CHEM could attract a\nhigher bid than th
e 27 dlrs per share offered by Waste\nManagement Inc WNX Wal
l Street arbitrageurs said”
[2] “Shares of ChemLawn shot up 1158 to 2938 in\noverthecou
nter trading with 38 mln of the companys 101\nmln shares cha
nging hands by late afternoon”
[3] “This company could go for 10 times cash flow or 30 dlr
s\nmaybe 32 dollars depending on whether there is a competin
g\nbidder an arbitrageur said”
[4] “Waste Managements tender offer\nannounced before the o
pening today expires March 25”
[5] “This is totally by surprise said Debra Strohmaier a\nC
hemLawn spokeswoman”
[6] “The companys board held a regularly\nscheduled meeting
today and was discussing the Waste Management\nannouncement
”
[7] “She said a statement was expected but it was not\ncert
ain when it would be ready”
[8] “She was unable to say if there had been any prior cont
act\nbetween Waste Management and ChemLawn officials”
[9] “I think they will resist it said Elliott Schlang\nanal
yst at Prescott Ball and Turben Inc Any company that\ndoesnt
like a surprise attack would”
[10] “Arbitrageurs pointed out it is difficult to resist ten
der\noffers for any and all shares for cash”
[11] “Schlang said ChemLawn\ncould try to find a white knigh
t if does not want to be\nacquired by Waste Management”
[12] “Analyst Rosemarie Morbelli of Ingalls and Snyder said\
nServiceMaster Companies LP SVM or Rollins Inc ROL were\nexa
mples of companies that could be interested”
[13] “ChemLawn with about two mln customers is the largest U
S\ncompany involved in application of fertilizers pesticides
and\nherbicides on lawns”
[14] “Waste Management is involved in removal of\nwastes”
[15] “Schlang said ChemLawns customer base could be valuable
to\nanother company that wants to capitalize on a strong\nr
esidential and commercial distribution system”
[16] “Both Schlang and Morbelli noted that high growth rates
had\ncatapulted ChemLawns share price into the mid30s in 19
83 but\nthe stock languished as the rate of growth slowed”
[17] “Schlang said the companys profits are concentrated in
the\nfourth quarter”
[18] “In 1986 ChemLawn earned 119 dlrs per share for\nthe fu
ll year and 258 dlrs in the fourth quarter”
[19] “Morbelli noted ChemLawn competes with thousands of\nin
dividual entrepreuers who offer lawn and garden care sevice”
[20] “Reuter”
document 22
[1] “Exco International Plc a subsidiary of\nBritish and Co
mmonwealth Shipping Co Plc BCOML said it had\nagreed in prin
ciple to buy an 80 pct stake in RMJ Holdings\nCorp for about
79 mln dlrs”
[2] “Exco Chairman Richard Lacy told Reuters the acquisitio
n was\nbeing made from Bank of New York Co Inc BKN which cur
rently\nholds a 501 pct and from RMJ partners who hold the r
emainder”
[3] “Bank of New York and the partners will retain about 10
pct\neach and these stakes will be bought over the next six
years”
[4] “RMJ is the holding company of RMJ Securities one of th
e\nlargest US Government securities brokers”
[5] “It is also involved in broking notes obligations and o
ther\ninstruments sponsored by US Federal agencies”
[6] “Lacy said Exco had been considering buying a US\nGover
nment securities broker for the past four years and had\nmad
e an offer for RMJ when it was sold by Security Pacific Corp
\nSPCN in 1985”
[7] “RMJ was then valued at about 50 mln dlrs”
[8] “B and C managing director Peter Goldie said RMJ would
be\nbought at about the same multiple as Exco suggesting net
\nincome of around 16 mln dlrs”
[9] “The companys earnings had not been hit by the halving
of\nbrokerage fees some 14 months ago as volumes had since d
oubled”
[10] “Lacy said that RMJ employed some 300 people with 200 i
n\nthe brokerage business and about 70 in its SMS unit which
\nprovided computer software for the financial services\ncom
munity”
[11] “RMJ Securities had offices in New York where total mar
ket\nturnover of US Government securities was 110 billion dl
rs a\nday and in London where it has 15 billion”
[12] “It was also given permission last week to open an offi
ce in\nTokyo where total market turnover had lifted rapidly
to about\nfive billion dlrs a day”
[13] “The acquisition would contribute between five and 10 p
ct of\nB and Cs share earnings in 1987 on a proforma basis”
[14] “REUTER”
document 42
[1] “Consolidated TVX Mining Corp said it\nagreed to issue
78 mln treasury shares to acquire interests in\nthree gold m
ining companies in Brazil and an option to increase\nthe com
panys interest in a platinum property”
[2] “The company said the transactions will bring immediate
\nproduction and earnings to Consolidated TVX enhance its\np
recious metal potential and is expected to improve cash flow
\nand earnings on a per share basis”
[3] “The company did not give\nspecific figures”
[4] “Consolidated TVX said it will acquire 29 pct of CMP a\
npublic gold mining company in which TVX already holds a 15
pct\ninterest making TVX the largest single shareholder”
[5] “The company also agreed to acquire a 19 pct stake in N
ovo\nAstro a private company and a 16 pct interest in Teles
Pires\nMining increasing the TVXs ownership to 51 pct”
[6] “In addition Consolidated TVX said it will acquire the\
nright to add a 10 pct interest to a platinum property in wh
ich\nit already owns a 294 pct stake”
[7] “CMP earned 11 mln Canadian dlrs in 1986 and expects to
\nproduce 42000 ounces of gold in 1987 at a cost of 160 US\n
dlrs an ounce Consolidated TVX said”
[8] “Novo Astro operates Brazils richest gold mine located
in\nAmapa State with an average grade of 08 ounces of gold a
ton\nin a hardrock quartz vein Consolidated TVX said”
[9] “Mining of\neluvial surface material produced 25000 oun
ces in 1986 and is\nexpected to produce 60000 ounces in 1987
”
[10] “It also said Teles Pires Mining controls rights to a 3
50\nkilometer section of the Teles Pires River where one dre
dge is\nexpected to produce 10000 ounces of gold in 1987”
[11] “Reuter”
document 34
[1] “Viacom International Inc said it\nreceived revised mer
ger offers from National Amusements Inc\nand MCV Holdings In
c”
[2] “The company said the special committee plans to meet l
ater\ntoday to review both offers”
[3] “Viacom said National Amusements Arsenal Holdings Inc\n
raised the value of its offer for the Viacom shares not held
by\nNational Amusements in three areas”
[4] “National Amusements holds\n196 pct of Viacoms stock”
[5] “The cash value of the offer was raised to 4200 dlrs fr
om\nthe 4050 dlrs a Viacom share offered February 23 while t
he\nvalue of the fraction of a share of exchangeable preferr
ed\nbeing offered was increased to 750 dlrs a share from six
dlrs”
[6] “The interest rate to be used to increase the cash valu
e of the\nmerger if delayed beyond April 30 was raised to ni
ne pct from\neight pct and 12 pct after May 31”
[7] “A Viacom spokesman said the Arsenal Holdingss offer\nc
ontinues to include a 20 pct interest in Arsenal for present
\nViacom shareholders”
[8] “Viacom said MCV Holdings a group which includes the\nc
ompanys senior management and the Equitable Life Assurance\n
Society of the United States raised the value of its offer b
y\nincreasing the value of the preferred being offered to 85
0\ndlrs from 800 dlrs a share and raising the ownership in t
he\nnew company to be held by present Viacom shareholders to
45 pct\nfrom 25 pct”
[9] “MCV called its previous offer made February 26\nthe fi
nal proposed revision of its agreement with Viacom”
[10] “Reuter”
document 1
[1] “Computer Terminal Systems Inc said\nit has completed th
e sale of 200000 shares of its common\nstock and warrants to
acquire an additional one mln shares to\nSedio NV of Lugano
Switzerland for 50000 dlrs”
[2] “The company said the warrants are exercisable for five\
nyears at a purchase price of 125 dlrs per share”
[3] “Computer Terminal said Sedio also has the right to buy\
nadditional shares and increase its total holdings up to 40
pct\nof the Computer Terminals outstanding common stock unde
r\ncertain circumstances involving change of control at the\
ncompany”
[4] “The company said if the conditions occur the warrants w
ould\nbe exercisable at a price equal to 75 pct of its commo
n stocks\nmarket price at the time not to exceed 150 dlrs pe
r share”
[5] “Computer Terminal also said it sold the technolgy right
s to\nits Dot Matrix impact technology including any future\
nimprovements to Woodco Inc of Houston Tex for 200000\ndlrs”
[6] “But it said it would continue to be the exclusive\nworl
dwide licensee of the technology for Woodco”
[7] “The company said the moves were part of its reorganizat
ion\nplan and would help pay current operation costs and ens
ure\nproduct delivery”
[8] “Computer Terminal makes computer generated labels forms
\ntags and ticket printers and terminals”
[9] “Reuter”
document 20
[1] “SHV United Kingdom Holding Co Ltd\nsaid it was making
a tender offer for up to 33 mln ordinary\nshares in Imperial
Continental Gas AssociationICGSL”
[2] “It said in a statement the offer was on the basis of 7
00p\nfor each IC Gas ordinary and 252p for every one stg nom
inal of\nIC Gas loan stock”
[3] “SHV already holds 68 mln IC Gas ordinary stock units\n
representing around 49 pct of the current issued share\ncapi
tal”
[4] “Successful completion of the offer would increase SHVs
\nstake in IC Gas to 398 mln shares representing around 279\
npct of issued share capital it said”
[5] “The offer capitalises IC Gas at around one billion stg
”
[6] “It said it was tendering for both ordinary stock and l
oan\nstock which when fully converted gave a total of 33 mln
IC\nGas ordinary”
[7] “It is making the tender offer through NM”
[8] “Rothschilds”
[9] “IC Gas said in a statement it noted the SHV tender off
er\nand the terms were being considered”
[10] “It said a further statement would be made as soon as\n
possible”
[11] “REUTER”
document 50
[1] “Union Carbide Corp is looking to\nacquisitions and join
t ventures to aid its chemicals and\nplastics growth accordi
ng the HW Lichtenberger president of\nChemicals and Plastics
”
[2] “Describing this as a major departure in the companys\na
pproach to commercial development he told the annual new\nbu
siness forum of the Commercial Development Association We\na
re looking to acquisitions and joint ventures when they look
\nlike the fastest and most promising routes to the growth\n
markets weve identified”
[3] “Not very long ago Union Carbide had the attitude that i
f\nwe couldnt do it ourselves it wasnt worth doing”
[4] “Or if it\nwas worth doing we had to go it alone Lichten
berger\nexplained”
[5] “He said there are times when exploiting a profitable\nm
arket is done best with a partner”
[6] “Nor do we see any need to\nplow resources into a techno
logy we may not have if we can link\nup profitably with some
one who is already there”
[7] “He said Carbide has extended its catalyst business that
way\nand is now extending its specialty chemicals business
in the\nsame way”
[8] “Reuter”
document 36
[1] “Pittston Co said it has\ntentatively agreed to acquire
WTC International NV in a\ntaxfree exchange of stock”
[2] “Pittston said it agreed to exchange 0523 common share
for\neach of the about 8612000 WTC common shares outstanding
”
[3] “Pittston said WTCs three principal shareholders who ow
n\n62 pct of its stock are parties to this agreement”
[4] “They have\ngranted Pittston the right of first refusal
to their shares”
[5] “WTC has granted Pittston an option to buy WTC shares e
qual\nto 185 poct of its outstanding stock”
[6] “The agreement is subject\nto approval of both boards a
nd WTC shareholders”
[7] “Pittston said described WTC as a fast growing air frei
ght\nforwarding company with operations throughout the world
”
[8] “Its\nrevenues totaled nearly 200 mln dlrs in the year
ended November\n30 and for the quarter ended on that date it
earned 13 mln\ndlrs on revenues of 558 mln dlrs”
[9] “Pittston said its Burlington Air Express subsidiary\ng
enerates about twothirds of its 450 mln dlrs in annual\nreve
nes with its domestic air freight services”
[10] “Reuter”
document 44
[1] “MultiStep Products Inc earlier\nreporting an initial s
ix month loss said it agreed to sell\nwholly owned MultiStep
Manufacturing Inc for 100000 dlrs\ncash subject to sharehol
der and regulatory approval”
[2] “MultiStep also said it will pay 900000 dlrs to cancel\
n711192 of its own shares which will be acquired from Michae
l\nPenhale and his benficiaries”
[3] “Penhale will control and manage\nMultiStep Manufacturi
ng following the transactions”
[4] “MultiStep had a 739146 dlr loss for the six months end
ed\nDecember 31”
[5] “The company received its initial public listing in\nDe
cember”
[6] “The company said its laddermaking unit has been losing
\n300000 dlrs quarterly”
[7] “The sale expected to close in April also calls for\nre
tirement of the units 400000 dlr bank debt MultiStep\nsaid”
[8] “The unit also has agreed to pay a debt of 400000 dlrs
to\nTarxien Company Ltd which is 40 pct owned by MultiStep”
[9] “MultiStep previously said it agreed to acquire the\nre
maining 60 pct of Tarxien it does not already own”
[10] “Reuter”
document 18
[1] “Toshin Steel Co Ltd TOSST and Azuma\nSteel Co Ltd affil
iates of Nippon Kokan KK NKKTT are\nconsidering a merger com
pany spokesmen said”
[2] “Toshin Steel owned 419 pct by Nippon Kokan and Azuma\nS
teel owned 413 pct by Nippon Kokan are expected to decide\nb
y the end of March they said”
[3] “Both firms have been struggling\nwith losses caused by
the recession in the steel industry and\nthe yens appreciati
on”
[4] “Azuma Steels current losses are estimated at 31 billion
\nyen in the year ending March 31 against a 699 billion loss
a\nyear earlier a spokesman said”
[5] “The firm employs 1100 workers\n Toshin Steel with 17
00 workers has given no forecast for\nthe year ending March
31”
[6] “But industry sources said they expected the company to
show\ncurrent losses of about five billion yen or more in 19
8687\ncompare
part of speech
> for(i in largestInd)
+ {
+
+ cat(“document “, i, “\n”);
+
+ pos = get_pos(acq[[i]])
g
+
+ print(pos)
+
+ cat(“\n”)
+ }
document 7
[1] “American/NNP Express/NNP Co/NNP remained/VBD silent/JJ
on/IN market/NN rumors/NNS it/PRP would/MD spinoff/NN all/DT
or/CC part/NN of/IN its/PRP$ Shearson/NNP Lehman/NNP Brothe
rs/NNPS Inc/NNP ,/, but/CC some/DT analysts/NNS said/VBD the
/DT company/NN may/MD be/VB considering/VBG such/JJ a/DT mov
e/NN because/IN it/PRP is/VBZ unhappy/JJ with/IN the/DT mark
et/NN value/NN of/IN its/PRP$ stock/NN ./. American/NNP Expr
ess/NNP stock/NN got/VBD a/DT lift/NN from/IN the/DT rumor/N
N ,/, as/IN the/DT market/NN calculated/VBD a/DT partially/R
B public/JJ Shearson/NNP may/MD command/VB a/DT good/JJ mark
et/NN value/NN ,/, thereby/RB boosting/VBG the/DT total/JJ v
alue/NN of/IN American/NNP Express/NNP ./. The/DT rumor/NN a
lso/RB was/VBD accompanied/VBN by/IN talk/NN the/DT financia
l/JJ services/NNS firm/NN would/MD split/VB its/PRP$ stock/N
N and/CC boost/VB its/PRP$ dividend/NN ./. American/NNP Expr
ess/NNP closed/VBD on/IN the/DT New/NNP York/NNP Stock/NNP E
xchange/NNP at/IN 72-5/8/CD ,/, up/RB 4-1/8/CD on/IN heavy/J
J volume/NN ./. American/NNP Express/NNP would/MD not/RB com
ment/VB on/IN the/DT rumors/NNS or/CC its/PRP$ stock/NN acti
vity/NN ./. Analysts/NNS said/VBD comments/NNS by/IN the/DT
company/NN at/IN an/DT analysts/NNS ‘/POS meeting/NN Tuesday
/NNP helped/VBD fuel/VB the/DT rumors/NNS as/IN did/VBD an/D
T announcement/NN yesterday/NN of/IN management/NN changes/N
NS ./. At/IN the/DT meeting/NN ,/, company/NN officials/NNS
said/VBD American/NNP Express/NNP stock/NN is/VBZ undervalue
d/VBN and/CC does/VBZ not/RB fully/RB reflect/VB the/DT perf
ormance/NN of/IN Shearson/NNP ,/, according/VBG to/TO analys
ts/NNS ./. Yesterday/NN ,/, Shearson/NNP said/VBD it/PRP was
/VBD elevating/VBG its/PRP$ chief/NN operating/VBG officer/N
N ,/, Jeffery/NNP Lane/NNP ,/, to/TO the/DT added/VBN positi
on/NN of/IN president/NN ,/, which/WDT had/VBD been/VBN vaca
nt/JJ ./. It/PRP also/RB created/VBD four/CD new/JJ position
s/NNS for/IN chairmen/NNS of/IN its/PRP$ operating/VBG divis
ions/NNS ./. Analysts/NNS speculated/VBD a/DT partial/JJ spi
noff/NN would/MD make/VB most/JJS sense/NN ,/, contrary/NN t
o/TO one/CD variation/NN on/IN market/NN rumors/NNS of/IN a/
DT total/JJ spinoff/NN ./. Some/DT analysts/NNS ,/, however/
RB ,/, disagreed/VBD that/IN any/DT spinoff/NN of/IN Shearso
n/NNP would/MD be/VB good/JJ since/IN it/PRP is/VBZ a/DT str
ong/JJ profit/NN center/NN for/IN American/NNP Express/NNP ,
/, contributing/VBG about/IN 20/CD pct/NN of/IN earnings/NNS
last/JJ year/NN ./. \”/“ I/PRP think/VBP it/PRP is/VBZ hig
hly/RB unlikely/JJ that/IN American/NNP Express/NNP is/VBZ g
oing/VBG to/TO sell/VB shearson/NN ,/, \”/” said/VBD Perrin
/NNP Long/NNP of/IN Lipper/NNP Analytical/NNP ./. He/PRP que
stioned/VBD what/WP would/MD be/VB a/DT better/JJR investmen
t/NN than/IN \”/“ a/DT very/RB profitable/JJ securities/NNS
firm/NN ./. \”/” Several/JJ analysts/NNS said/VBD American
/NNP Express/NNP is/VBZ not/RB in/IN need/NN of/IN cash/NN ,
/, which/WDT might/MD be/VB the/DT only/JJ reason/NN to/TO s
ell/VB a/DT part/NN of/IN a/DT strong/JJ asset/NN ./. But/CC
others/NNS believe/VBP the/DT company/NN could/MD very/RB w
ell/RB of/IN considered/VBN the/DT option/NN of/IN spinning/
VBG out/IN part/NN of/IN Shearson/NNP ,/, and/CC one/CD rumo
r/NN suggests/VBZ selling/VBG about/IN 20/CD pct/NN of/IN it
/PRP in/IN the/DT market/NN ./. Larry/NNP Eckenfelder/NNP of
/IN Prudential-Bache/NNP Securities/NNPS said/VBD he/PRP bel
ieves/VBZ American/NNP Express/NNP could/MD have/VB consider
ed/VBN a/DT partial/JJ spinoff/NN in/IN the/DT past/NN ./. \
“/“ Shearson/NNP being/VBG as/RB profitable/JJ as/IN it/PRP
is/VBZ would/MD have/VB fetched/VBN a/DT big/JJ premium/NN
in/IN the/DT market/NN place/NN ./. Shearson/NNP ‘s/POS book
/NN value/NN is/VBZ in/IN the/DT 1.4/CD mln/NN dlr/NN range/
NN ./. Shearson/NNP in/IN the/DT market/NN place/NN would/MD
probably/RB be/VB worth/JJ three/CD to/TO 3.5/CD bilion/CD
dlrs/NNS in/IN terms/NNS of/IN market/NN capitalization/NN ,
/, \”/” said/VBD Eckenfelder/NNP ./. Some/DT analysts/NNS s
aid/VBD American/NNP Express/NNP could/MD use/VB capital/NN
since/IN it/PRP plans/VBZ to/TO expand/VB globally/RB ./. \”
/“ They/PRP have/VBP enormous/JJ internal/JJ growth/NN plan
s/VBZ that/IN takes/VBZ capital/NN ./. You/PRP want/VBP your
/PRP$ stock/NN to/TO reflect/VB realistic/JJ valuations/NNS
to/TO enhance/VB your/PRP$ ability/NN to/TO make/VB all/DT k
inds/NNS of/IN endeavors/NNS down/IN the/DT road/NN ,/, \”/’
‘ said/VBD E.F./NNP Hutton/NNP Group/NNP analyst/NN Michael/
NNP Lewis/NNP ./. \”/“ They/PRP ‘ve/VBP outlined/VBN the/DT
fact/NN that/IN they/PRP ‘re/VBP investing/VBG heavily/RB i
n/IN the/DT future/NN ,/, which/WDT goes/VBZ heavily/RB into
/IN the/DT international/JJ arena/NN ,/, \”/” said/VBD Lewi
s/NNP ./. \”/“ …That/WP does/VBZ not/RB preclude/VB acqui
sitions/NNS and/CC divestitures/NNS along/IN the/DT way/NN ,
/, \”/” he/PRP said/VBD ./. Lewis/NNP said/VBD if/IN Americ
an/NNP Express/NNP reduced/VBD its/PRP$ exposure/NN to/TO th
e/DT brokerage/NN business/NN by/IN selling/VBG part/NN of/I
N shearson/NN ,/, its/PRP$ stock/NN might/MD better/RB refle
ct/VB other/JJ assets/NNS ,/, such/JJ as/IN the/DT travel/NN
related/VBN services/NNS business/NN ./. \”/“ It/PRP could
/MD find/VB its/PRP$ true/JJ water/NN mark/NN with/IN a/DT l
esser/JJR exposure/NN to/TO brokerage/NN ./. The/DT value/NN
of/IN the/DT other/JJ components/NNS could/MD command/VB a/
DT higher/JJR multiple/JJ because/IN they/PRP constitute/VBP
a/DT higher/JJR percentage/NN of/IN the/DT total/JJ operati
ng/NN earnings/NNS of/IN the/DT company/NN ,/, \”/” he/PRP
said/VBD ./. Lewis/NNP said/VBD Shearson/NNP contributed/VBD
316/CD mln/NN in/IN after-tax/JJ operating/NN earnings/NNS
,/, up/RB from/IN about/IN 200/CD mln/NN dlrs/NNS in/IN 1985
/CD ./. Reuter/NNP”
document 25
[1] “American/NNP Express/NNP Co/NNP ,/, rumored/VBN to/TO b
e/VB considering/VBG a/DT spinoff/NN of/IN part/NN of/IN She
arson/NNP Lehman/NNP Brothers/NNPS Inc/NNP ,/, said/VBD it/P
RP is/VBZ studying/VBG a/DT range/NN of/IN options/NNS for/I
N its/PRP$ brokerage/NN unit/NN that/WDT could/MD improve/VB
Shearon/NNP ‘s/POS access/NN to/TO capital/NN and/CC help/V
B it/PRP meet/VB broadening/JJ international/JJ competition/
NN ./. In/IN a/DT joint/JJ statement/NN ,/, American/NNP Exp
ress/NNP and/CC Shearson/NNP said/VBD the/DT actions/NNS und
er/IN consideration/NN are/VBP an/DT integral/JJ part/NN of/
IN American/NNP Express/NNP ‘/POS worldwide/JJ financial/JJ
services/NNS strategy/NN and/CC that/IN the/DT two/CD compan
ies/NNS have/VBP been/VBN having/VBG both/DT internal/JJ and
/CC external/JJ discussions/NNS on/IN the/DT matters/NNS ./.
American/NNP Express/NNP said/VBD no/DT decision/NN has/VBZ
been/VBN reached/VBN on/IN the/DT strategic/JJ options/NNS
and/CC that/IN it/PRP and/CC Shearson/NNP could/MD ultimatel
y/RB decide/VB to/TO follow/VB growth/NN plans/NNS already/R
B in/IN place/NN ./. Last/JJ week/NN ,/, rumors/NNS circulat
ed/VBN on/IN Wall/NNP Street/NNP that/IN the/DT financial/JJ
services/NNS giant/NN was/VBD considering/VBG a/DT spinoff/
NN of/IN part/NN of/IN Shearson/NNP and/CC there/EX was/VBD
speculation/NN it/PRP may/MD be/VB considering/VBG selling/V
BG a/DT stake/NN to/TO a/DT Japanese/JJ firm/NN ./. Analysts
/NNS said/VBD the/DT speculation/NN also/RB focused/VBD on/I
N American/NNP Express/NNP selling/NN 20/CD pct/NN of/IN the
/DT profitable/JJ brokerage/NN firm/NN to/TO the/DT public/N
N ./. There/EX was/VBD some/DT speculation/NN that/IN Americ
an/NNP Express/NNP had/VBD also/RB considered/VBN a/DT total
/JJ spinoff/NN of/IN Shearson/NNP ,/, but/CC the/DT plan/NN
was/VBD considered/VBN highly/RB unlikely/JJ ,/, analysts/NN
S said/VBD ./. American/NNP Express/NNP said/VBD in/IN the/D
T statement/NN on/IN Sunday/NNP that/IN it/PRP will/MD not/R
B comment/VB on/IN rumors/NNS and/CC speculation/NN and/CC a
/DT spokesman/NN would/MD not/RB go/VB beyond/IN the/DT stat
ement/NN ./. The/DT company/NN also/RB remained/VBD silent/J
J last/JJ Thursday/NNP and/CC Friday/NNP ,/, as/IN rumors/NN
S drove/VBD American/NNP Express/NNP stock/NN up/IN a/DT tot
al/NN of/IN 5-1/2/CD dlrs/NNS in/IN two/CD days/NNS to/TO br
ing/VB it/PRP to/TO a/DT Friday/NNP close/NN at/IN 74./CD It
/PRP said/VBD it/PRP issued/VBD the/DT statement/NN on/IN Su
nday/NNP because/IN a/DT similar/JJ statement/NN was/VBD bei
ng/VBG circulated/VBN to/TO employees/NNS ./. Analysts/NNS h
ave/VBP been/VBN divided/VBN on/IN whether/IN it/PRP makes/V
BZ sense/NN for/IN American/NNP Express/NNP to/TO give/VB up
/RP a/DT stake/NN in/IN the/DT wholly-owned/JJ brokerage/NN
,/, which/WDT improved/VBD its/PRP$ after-tax/JJ earnings/NN
S by/IN about/IN 50/CD pct/NN in/IN the/DT last/JJ year/NN .
/. Some/DT analysts/NNS said/VBD American/NNP Express/NNP ma
y/MD consider/VB spinning/VBG off/IN part/NN of/IN Shearson/
NNP because/IN it/PRP is/VBZ concerned/VBN that/IN its/PRP$
stock/NN price/NN does/VBZ not/RB fully/RB reflect/VB the/DT
value/NN of/IN the/DT brokerage/NN firm/NN ./. Shearson/NNP
contributed/VBD 316/CD mln/NN dlrs/NNS of/IN American/NNP E
xpress/NNP ‘/POS 1.25/CD billion/CD dlr/NN net/NN in/IN 1986
/CD ./. American/NNP Express/NNP ‘/POS ambitious/JJ plans/NN
S for/IN international/JJ growth/NN may/MD be/VB also/RB enh
anced/VBN by/IN the/DT added/JJ cash/NN that/IN spinning/VBG
out/IN part/NN of/IN Shearson/NNP would/MD bring/VB ./. Ana
lysts/NNS speculated/VBD that/IN all/DT of/IN Shearson/NNP w
ould/MD have/VB a/DT market/NN value/NN of/IN about/IN 3.5/C
D billion/CD dlrs/NNS ./. To/TO some/DT however/RB ,/, the/D
T need/NN for/IN added/JJ capital/NN is/VBZ puzzling/JJ ./.
\”(/JJ American/NNP )/-RRB- Express/NNP is/VBZ in/IN a/DT po
sition/NN where/WRB they/PRP can/MD raise/VB capital/NN if/I
N they/PRP need/VBP to/TO ,/, \”/” said/VBD Larry/NNP Ecken
felder/NNP of/IN Prudential-Bache/NNP Securities/NNPS ./. An
alysts/NNS said/VBD rumors/NNS were/VBD fed/VBN by/IN the/DT
reorganization/NN of/IN Shearson/NNP management/NN Wednesda
y/NNP ./. Chief/NNP operating/VBG officer/NN Jeffrey/NNP Lan
e/NNP got/VBD the/DT added/VBN ,/, previously/RB vacant/JJ ,
/, post/NN of/IN president/NN ./. The/DT reorganization/NN a
lso/RB created/VBD four/CD new/JJ positions/NNS for/IN chair
men/NNS of/IN Shearson/NNP ‘s/POS operating/VBG divisions/NN
S ,/, a/DT move/NN analysts/NNS speculated/VBD would/MD allo
w/VB Shearson/NNP to/TO be/VB a/DT stand/NN alone/JJ company
/NN ./. Analysts/NNS ,/, contacted/VBD on/IN Sunday/NNP said
/VBD the/DT statement/NN does/VBZ little/RB to/TO clarify/VB
last/JJ week/NN ‘s/POS market/NN speculation/NN ./. It/PRP
does/VBZ confirm/VB ,/, however/RB ,/, that/IN the/DT financ
ial/JJ services/NNS firm/NN ,/, which/WDT unsuccessfully/RB
attempted/VBD to/TO expand/VB Shearson/NNP with/IN a/DT majo
r/JJ acquisition/NN last/JJ year/NN ,/, is/VBZ looking/VBG b
eyond/IN its/PRP$ own/JJ walls/NNS for/IN growth/NN and/CC p
ositioning/NN in/IN the/DT global/JJ market/NN competition/N
N ./. Late/RB last/JJ year/NN ,/, Shearson/NNP ‘s/POS takeov
er/NN offer/NN to/TO the/DT E.F./NNP Hutton/NNP Group/NNP In
c/NNP was/VBD rejected/VBN by/IN Hutton/NNP ,/, and/CC analy
sts/NNS said/VBD there/EX had/VBD been/VBN speculation/NN th
at/IN Shearson/NNP also/RB was/VBD rebuffed/VBN when/WRB it/
PRP approached/VBD another/DT major/JJ Wall/NNP Street/NNP b
rokerage/NN ./. Reuter/NNP”
document 29
[1] “New/NNP Jersey-based/JJ overnight/JJ messenger/NN Purol
ator/NNP Courier/NNP Corp/NNP said/VBD it/PRP has/VBZ agreed
/VBN to/TO be/VB acquired/VBN for/IN about/IN 265/CD mln/NN
dlrs/NNS by/IN a/DT company/NN formed/VBN by/IN E.F./NNP Hut
ton/NNP LBO/NNP Inc/NNP and/CC certain/JJ managers/NNS of/IN
Purolator/NNP ‘s/POS U.S./NNP courier/NN business/NN ./. An
alysts/NNS have/VBP said/VBD that/IN Purolator/NNP has/VBZ b
een/VBN for/IN sale/NN for/IN some/DT time/NN ./. Purolator/
NNP announced/VBD earlier/JJR it/PRP was/VBD mulling/VBG a/D
T takeover/NN bid/NN ,/, but/CC analysts/NNS wrongly/RB pred
icted/VBD the/DT offer/NN was/VBD from/IN another/DT courier
/NN company/NN ./. Hutton/NNP LBO/NNP ,/, a/DT wholly/RB own
ed/VBN subsidiary/NN of/IN E.F./NNP Hutton/NNP Group/NNP Inc
/NNP ,/, will/MD be/VB majority/NN owner/NN of/IN the/DT com
pany/NN ./. Hutton/NNP said/VBD the/DT acquiring/VBG company
/NN ,/, PC/NNP Acquisition/NNP Inc/NNP ,/, is/VBZ paying/VBG
35/CD dlrs/NNS cash/NN per/IN share/NN for/IN 83/CD pct/NN
of/IN Purolator/NNP ‘s/POS stock/NN in/IN a/DT tender/NN off
er/NN to/TO begin/VB Thursday/NNP ./. The/DT rest/NN of/IN t
he/DT shares/NNS will/MD be/VB purchased/VBN for/IN securiti
es/NNS and/CC warrants/NNS to/TO buy/VB stock/NN in/IN a/DT
subsidiary/NN of/IN PC/NNP Acquisition/NNP ,/, containing/VB
G Purolator/NNP ‘s/POS U.S./NNP courier/NN operations/NNS ./
. If/IN all/PDT the/DT shares/NNS of/IN Purolator/NNP are/VB
P tendered/VBN ,/, shareholders/NNS would/MD receive/VB for/
IN each/DT share/NN 29/CD dlrs/NNS cash/NN ,/, six/CD dlrs/N
NS in/IN debentures/NNS ,/, and/CC a/DT warrant/NN to/TO buy
/VB shares/NNS in/IN a/DT subsidiary/NN of/IN PC/NN Acquisit
ion/NNP containing/VBG the/DT U.S./NNP courier/NN operations
/NNS ./. Hutton/NNP said/VBD in/IN the/DT merger/NN sharehol
ders/NNS would/MD get/VB 46/CD mln/NN dlrs/NNS aggregate/JJ
amount/NN of/IN guaranteed/VBN debentures/NNS due/JJ 2002/CD
of/IN PC/NN Acquisition/NNP and/CC warrants/NNS to/TO buy/V
B 15/CD pct/NN of/IN the/DT common/JJ stock/NN of/IN the/DT
PC/NN courier/NN subsidiary/NN ./. Hutton/NNP said/VBD the/D
T company/NN has/VBZ valued/VBN the/DT warrants/NNS at/IN tw
o/CD to/TO three/CD dlrs/NNS per/IN share/NN ./. Purolator/N
NP ‘s/POS stock/NN price/NN closed/VBD at/IN 35.125/CD dlrs/
NNS on/IN Friday/NNP ./. While/IN some/DT analysts/NNS estim
ated/VBD the/DT company/NN was/VBD worth/JJ in/IN the/DT mid
/JJ 30s/NNS ,/, at/IN least/JJS one/CD said/VBD it/PRP would
/MD be/VB worth/JJ 38/CD to/TO 42/CD dlrs/NNS ./. This/DT fo
llows/VBZ sales/NNS of/IN two/CD other/JJ Purolator/NNP unit
s/NNS ./. It/PRP agreed/VBD recently/RB to/TO sell/VB its/PR
P$ Canadian/JJ Courier/NNP unit/NN to/TO Onex/NNP Capital/NN
P for/IN 170/CD mln/NN dlrs/NNS ,/, and/CC previously/RB sol
d/VBN its/PRP$ auto/NN filters/NNS business/NN ./. Purolator
/NNP retains/VBZ its/PRP$ Stant/NNP division/NN ,/, which/WD
T makes/VBZ closure/NN caps/NNS for/IN radiators/NNS and/CC
gas/NN tanks/NNS ./. A/DT Hutton/NNP spokesman/NN said/VBD t
he/DT firm/NN is/VBZ reviewing/VBG its/PRP$ options/NNS on/I
N Stant/NNP ./. Purolator/NNP ‘s/POS courier/NN business/NN
has/VBZ been/VBN lagging/VBG that/IN of/IN its/PRP$ U.S./NNP
rivals/NNS because/IN of/IN the/DT high/JJ price/NN it/PRP
paid/VBD in/IN the/DT past/JJ several/JJ years/NNS to/TO add
/VB air/NN delivery/NN to/TO its/PRP$ ground/NN fleet/NN ./.
E.F./. Hutton/NNP will/MD provide/VB 279/CD mln/JJ dlrs/NNS
of/IN its/PRP$ funds/NNS to/TO complete/VB the/DT transacti
on/NN ./. This/DT so-called/JJ \”bridge/NN \”/” financing/N
N will/MD be/VB replaced/VBN later/RB with/IN long-term/JJ d
ebt/NN most/RBS likely/JJ in/IN the/DT form/NN of/IN bank/NN
loans/NNS ,/, Hutton/NNP said/VBD ./. Hutton/NNP LBO/NNP is
/VBZ committed/VBN to/TO keeping/VBG the/DT courier/NN busin
ess/NN ,/, its/PRP$ president/NN Warren/NNP Idsal/NNP said/V
BD ./. \”/“ Purolator/NNP lost/VBD 120/CD mln/NN dlrs/NNS o
ver/IN the/DT last/JJ two/CD years/NNS largely/RB due/JJ to/
TO U.S./NNP courier/NN operations/NNS ,/, which/WDT we/PRP b
elieve/VBP the/DT management/NN is/VBZ turning/VBG around/RB
./. We/PRP belive/VBP it/PRP will/MD be/VB a/DT very/RB ser
ious/JJ competitor/NN in/IN the/DT future/NN ,/, \”/” said/
VBD Idsal/NNP ./. William/NNP Taggart/NNP ,/, chief/JJ execu
tive/JJ officer/NN of/IN U.S./NNP Courier/NNP division/NN ,/
, will/MD be/VB chief/JJ executive/JJ officer/NN of/IN the/D
T new/JJ company/NN ./. The/DT tender/NN offer/NN will/MD be
/VB conditioned/VBN on/IN a/DT minimum/NN of/IN two/CD third
s/NNS of/IN the/DT common/JJ stock/NN being/VBG tendered/VBN
and/CC not/RB withdrawn/VBN to/TO the/DT expiration/NN of/I
N the/DT offer/NN as/RB well/RB as/IN certain/JJ other/JJ co
nditions/NNS ./. The/DT offer/NN will/MD begin/VB Thursday/N
NP ,/, subject/NN to/TO clearances/NNS from/IN the/DT staff/
NN of/IN the/DT Interstate/NNP Commerce/NNP Commission/NNP a
nd/CC will/MD expire/VB 20/CD business/NN days/NNS after/IN
commencement/NN unless/IN extended/VBN ./. Reuter/NNP”
document 47
[1] “Investor/NNP Sumner/NNP Redstone/NNP ,/, who/WP leads/V
BZ one/CD of/IN the/DT two/CD groups/NNS vying/VBG for/IN co
ntrol/NN of/IN Viacom/NNP International/NNP Inc/NNP ,/, offe
red/VBD to/TO sweeten/VB his/PRP$ bid/NN for/IN the/DT compa
ny/NN by/IN 1.50/CD dlrs/NNS a/DT share/NN cash/NN and/CC 1.
50/CD dlrs/NNS in/IN securities/NNS ./. In/IN a/DT filing/NN
with/IN the/DT Securities/NNPS and/CC Exchange/NNP Commissi
on/NNP ,/, Redstone/NNP ,/, who/WP controls/VBZ Dedham/NNP ,
/, Mass.,-based/JJ National/NNP Amusements/NNP Inc/NNP ,/, a
/DT theater/NN chain/NN operator/NN ,/, offered/VBD to/TO ra
ise/VB the/DT cash/NN portion/NN of/IN its/PRP$ Viacom/NNP o
ffer/NN to/TO 42/CD dlrs/NNS a/DT share/NN from/IN 40.50/CD
dlrs/NNS ./. Redstone/NN also/RB raised/VBD the/DT face/NN v
alue/NN of/IN the/DT preferred/JJ stock/NN he/PRP is/VBZ off
ering/VBG to/TO 7.50/CD dlrs/NNS from/IN six/CD dlrs/NNS ./.
The/DT Redstone/NNP offer/NN ,/, which/WDT is/VBZ being/VBG
made/VBN through/IN Arsenal/NNP Holdings/NNP Inc/NNP ,/, a/
DT National/NNP Amusements/NNP subsidiary/NN set/VBN up/RP f
or/IN that/DT purpose/NN ,/, which/WDT also/RB give/VBP Viac
om/NNP shareholders/NNS one-fifth/NN of/IN a/DT share/NN of/
IN Arsenal/NNP common/JJ stock/NN after/IN the/DT takeover/N
N ./. Viacom/NNP said/VBD earlier/JJR today/NN it/PRP receiv
ed/VBD revised/VBN takeover/NN bids/NNS from/IN Redstone/NNP
and/CC MCV/NNP Holdings/NNP Inc/NNP ,/, a/DT group/NN led/V
BN by/IN Viacom/NNP management/NN which/WDT is/VBZ competing
/VBG with/IN Redstone/NN for/IN control/NN of/IN the/DT comp
any/NN and/CC already/RB has/VBZ a/DT formal/JJ merger/NN ag
reement/NN with/IN Viacom/NNP ./. The/DT company/NN did/VBD
not/RB disclose/VB the/DT details/NNS of/IN the/DT revised/J
J offers/NNS ,/, but/CC said/VBD a/DT special/JJ committee/N
N of/IN its/PRP$ board/NN would/MD review/VB them/PRP later/
RB today/RB ./. The/DT Redstone/NNP group/NN ,/, which/WDT h
as/VBZ a/DT 19.5/CD pct/NN stake/NN in/IN Viacom/NNP ,/, and
/CC the/DT management/NN group/NN ,/, which/WDT has/VBZ a/DT
5.4/CD pct/NN stake/NN ,/, have/VBP both/DT agreed/VBD not/
RB to/TO buy/VB more/JJR shares/NNS of/IN the/DT company/NN
until/IN a/DT merger/NN is/VBZ completed/VBN ,/, unless/IN t
he/DT purchases/NNS are/VBP part/NN of/IN a/DT tender/NN off
er/NN for/IN at/IN least/JJS half/NN of/IN the/DT outstandin
g/JJ stock/NN ./. The/DT two/CD rivals/NNS also/RB signed/VB
D confidentiality/NN agreements/NNS ,/, which/WDT give/VBP t
hem/PRP access/NN to/TO Viacom/NNP ‘s/POS financial/JJ recor
ds/NNS provided/VBN they/PRP keep/VB the/DT information/NN s
ecret/NN ./. In/IN his/PRP$ SEC/NNP filing/NN ,/, Redstone/N
NP ,/, who/WP estimated/VBD his/PRP$ cost/NN of/IN completin
g/VBG the/DT takeover/NN at/IN 2.95/CD billion/CD dlrs/NNS ,
/, said/VBD Bank/NNP of/IN America/NNP is/VBZ confident/JJ i
t/PRP can/MD raise/VB 2.275/CD billion/CD dlrs/NNS ./. Besid
es/IN the/DT financing/NN it/PRP would/MD raise/VB through/I
N a/DT bank/NN syndicate/NN ,/, Bank/NNP of/IN America/NNP h
as/VBZ also/RB agreed/VBN to/TO provide/VB a/DT separate/JJ
25/CD mln/NN dlr/NN for/IN the/DT limited/JJ purpose/NN of/I
N partial/JJ financing/NN and/CC has/VBZ committed/VBN to/TO
provide/VB another/DT 592/CD mln/NN dlrs/NNS ,/, Redstone/N
NP said/VBD ./. Merrill/NNP Lynch/NNP ,/, Pierce/NNP Fenner/
NNP and/CC Smith/NNP Inc/NNP has/VBZ increased/VBN its/PRP$
underwriting/NN commitment/NN to/TO 175/CD mln/JJ dlrs/NNS o
f/IN subordinated/JJ financing/NN debt/NN for/IN the/DT Viac
om/NNP takeover/NN ,/, from/IN the/DT 150/CD mln/NN dlrs/NNS
it/PRP agreed/VBD to/TO underwrite/VB earlier/JJR ,/, Redst
one/NNP said/VBD ./. Redstone/NN said/VBD his/PRP$ group/NN
would/MD contribute/VB more/JJR than/IN 475/CD mln/NN dlrs/N
NS in/IN equity/NN toward/IN the/DT takeover/NN ./. The/DT R
edstone/NN equity/NN contribution/NN to/TO the/DT takeover/N
N would/MD consist/VB of/IN all/DT of/IN his/PRP$ group/NN ‘
s/POS 6,881,800/CD Viacom/NNP common/JJ shares/NNS and/CC at
/IN least/JJS 118/CD mln/JJ dlrs/NNS cash/NN ,/, he/PRP said
/VBD ./. The/DT new/JJ offer/NN ,/, the/DT second/JJ sweeten
ed/JJ deal/NN Redstone/NNP has/VBZ proposed/VBN in/IN his/PR
P$ month-long/JJ bidding/NN war/NN with/IN management/NN ,/,
also/RB contains/VBZ newly/RB drawn/VBN up/RP proposed/VBN
merger/NN documents/NNS ,/, he/PRP said/VBD ./. Last/JJ week
/NN ,/, the/DT management/NN group/NN submitted/VBD what/WP
it/PRP called/VBD its/PRP$ last/JJ offer/NN for/IN the/DT co
mpany/NN ,/, valued/VBN at/IN 3.1/CD mln/NN dlrs/NNS and/CC
consisting/VBG of/IN 38.50/CD dlrs/NNS a/DT share/NN cash/NN
,/, preferred/VBN stock/NN valued/VBN at/IN eight/CD dlrs/N
NS a/DT share/NN and/CC equity/NN in/IN the/DT new/JJ compan
y/NN ./. Redstone/NN ‘s/POS previous/JJ offer/NN had/VBD bee
n/VBN valued/VBN at/IN 3.2/CD billion/CD dlrs/NNS ./. Reuter
/NNP”
document 19
[1] “Sweden/NNP ‘s/POS Wallenberg/NNP group/NN fought/VBD ba
ck/RB a/DT bid/NN by/IN the/DT London-based/JJ Swedish/JJ fi
nancier/NN Erik/NNP Penser/NNP to/TO secure/VB a/DT large/JJ
stake/NN in/IN Swedish/NNP Match/NNP
one/CD of/IN the/DT companies/NNS at/IN the/DT core/NN of/IN
their/PRP$ business/NN empire/NN ./. A/DT statement/NN issu
ed/VBN by/IN the/DT Wallenberg/NNP holding/NN companies/NNS
AB/NNP Investor/NNP and/CC Forvaltnings/NNP AB/NNP Provident
ia/NNP said/VBD they/PRP had/VBD taken/VBN over/IN an/DT opt
ion/NN held/VBN by/IN Nobel/NNP Industrier/NNP Sweden/NNP AB
/NNP to/TO acquire/VB 33/CD pct/NN of/IN the/DT voting/NN ri
ghts/NNS in/IN Swedish/JJ Match/NNP ./. Thre/NNP Wallenbergs
/NNP paid/VBD Nobel/NNP Industrier/NNP
in/IN which/WDT Penser/NNP group/NN has/VBZ a/DT 72/CD pct/
NN stake/NN ,/, about/IN 20/CD pct/NN over/IN the/DT market/
NN price/NN for/IN the/DT Swedish/NNP Match/NNP option/NN ,/
, the/DT statement/NN said/VBD ./. Swedish/JJ Match/NNP ‘s/P
OS B/NNP shares/NNS open/JJ to/TO foreign/JJ buyers/NNS clos
ed/VBD at/IN 424/CD crowns/NNS on/IN Friday/NNP ./. The/DT A
/DT shares/NNS –/: with/IN increased/VBN voting/NN rights/N
NS –/: closed/VBD at/IN 450/CD crowns/NNS for/IN the/DT res
tricted/VBN and/CC 455/CD for/IN the/DT free/JJ shares/NNS .
/. The/DT statement/NN said/VBD the/DT deal/NN increased/VBD
Investor/NNP ‘s/POS stake/NN to/TO 49.4/CD pct/NN of/IN the
/DT voting/NN rights/NNS and/CC 14.8/CD pct/NN of/IN the/DT
share/NN capital/NN while/IN Providentia/NNP is/VBZ left/VBN
holding/VBG 34.1/CD pct/NN of/IN the/DT voting/NN rights/NN
S and/CC 14.5/CD pct/NN of/IN the/DT share/NN capital/NN in/
IN Swedish/JJ Match/NNP ./. The/DT Wallenbergs/NNP ‘/POS sta
ke/NN in/IN Swedish/NNP Match/NNP had/VBD previously/RB amou
nted/VBN to/TO 52/CD pct/NN of/IN the/DT voting/NN rights/NN
S in/IN the/DT company/NN ./. The/DT Swedish/JJ Match/NNP de
al/NN will/MD cost/VB the/DT Wallenbergs/NNS about/IN 400/CD
mln/NN crowns/NNS ,/, share/NN analysts/NNS said/VBD ,/, ma
king/VBG it/PRP one/CD of/IN the/DT most/RBS expensise/JJ mo
ves/NNS the/DT group/NN has/VBZ undertaken/VBN in/IN the/DT
last/JJ four/CD years/NNS to/TO defend/VB its/PRP$ far-flung
/JJ interests/NNS from/IN outside/JJ predators/NNS ./. The/D
T Wallenbergs/NNP originally/RB sold/VBD Nobel/NNP Industrie
r/NNP ,/, an/DT arms/NNS and/CC chemicals/NNS group/NN ,/, t
o/TO Penser/NNP in/IN 1984/CD to/TO pay/VB for/IN buying/VBG
Volvo/NNP
y/JJ group/NN companies/NNS ,/, Atlas/NNP Copco/NNP
./. Since/IN then/RB ,/, the/DT Wallenbergs/NNP were/VBD ou
sted/VBN as/IN the/DT largest/JJS shareholders/NNS in/IN SKF
/NNP (/-LRB- SKFR/NNP ST>/NNP by/IN Skanska/NNP AB/NNP
ntrol/NN of/IN Incentive/NNP AB/NNP from/IN them/PRP ./. Lun
dberg/NNP ,/, a/DT Zurich-based/JJ Swedish/JJ property/NN ty
coon/NN ,/, also/RB managed/VBD to/TO acquire/VB a/DT 25/CD
pct/NN stake/NN in/IN another/DT Wallenberg/NNP company/NN ,
/, the/DT diary/NN equipment/NN firm/NN Alfa/NNP -Laval/NNP
AB/NNP
llenbergs/NNP have/VBP been/VBN concentrating/VBG on/IN buil
ding/VBG up/RP their/PRP$ stake/NN in/IN Investor/NNP and/CC
Providentia/NNP to/TO prevent/VB any/DT raid/NN on/IN the/D
T heart/NN of/IN their/PRP$ business/NN empire/NN ./. But/CC
analysts/NNS say/VBP the/DT Wallenbergs/NNP ‘/POS position/
NN in/IN the/DT electrical/JJ engineering/NN firm/NN ASEA/NN
P AB/NNP
/IN 12.6/CD pct/NN of/IN the/DT voting/NN rights/NNS and/CC
there/EX has/VBZ been/VBN growing/VBG speculation/NN that/IN
the/DT group/NN will/MD be/VB forced/VBN to/TO sell/VB off/
RP fringe/NN interests/NNS to/TO protect/VB its/PRP$ core/NN
activities/NNS ./. REUTER/NN”
document 4
[1] “ChemLawn/NNP Corp/NNP
DT higher/JJR bid/NN than/IN the/DT 27/CD dlrs/NNS per/IN sh
are/NN offered/VBN by/IN Waste/NNP Management/NNP Inc/NNP
. Shares/NNS of/IN ChemLawn/NNP shot/VBD up/RB 11-5/8/CD to/
TO 29-3/8/CD in/IN over-the-counter-/DT trading/NN with/IN 3
.8/CD mln/NN of/IN the/DT company/NN ‘s/POS 10.1/CD mln/JJ s
hares/NNS changing/VBG hands/NNS by/IN late/JJ afternoon/NN
./. \”/“ This/DT company/NN could/MD go/VB for/IN 10/CD tim
es/NNS cash/NN flow/NN or/CC 30/CD dlrs/NNS ,/, maybe/RB 32/
CD dollars/NNS depending/VBG on/IN whether/IN there/EX is/VB
Z a/DT competing/VBG bidder/NN ,/, \”/” an/DT arbitrageur/N
N said/VBD ./. Waste/NNP Management/NNP ‘s/POS tender/NN off
er/NN ,/, announced/VBD before/IN the/DT opening/NN today/NN
,/, expires/VBZ March/NNP 25/CD ./. \”/“ This/DT is/VBZ to
tally/RB by/IN surprise/NN ,/, \”/” said/VBD Debra/NNP Stro
hmaier/NNP ,/, a/DT ChemLawn/NNP spokeswoman/NN ./. The/DT c
ompany/NN ‘s/POS board/NN held/VBD a/DT regularly/RB schedul
ed/JJ meeting/NN today/NN and/CC was/VBD discussing/VBG the/
DT Waste/NNP Management/NNP announcement/NN ./. She/PRP said
/VBD a/DT statement/NN was/VBD expected/VBN but/CC it/PRP wa
s/VBD not/RB certain/JJ when/WRB it/PRP would/MD be/VB ready
/JJ ./. She/PRP was/VBD unable/JJ to/TO say/VB if/IN there/E
X had/VBD been/VBN any/DT prior/JJ contact/NN between/IN Was
te/NNP Management/NNP and/CC ChemLawn/NNP officials/NNS ./.
\”/“ I/PRP think/VBP they/PRP will/MD resist/VB it/PRP ,/,
\”/” said/VBD Elliott/NNP Schlang/NNP ,/, analyst/NN at/IN
Prescott/NNP ,/, Ball/NNP and/CC Turben/NNP Inc./NNP \”/” A
ny/DT company/NN that/WDT does/VBZ n’t/RB like/VB a/DT surpr
ise/NN attack/NN would/MD ./. \”/” Arbitrageurs/NNS pointed
/VBD out/IN it/PRP is/VBZ difficult/JJ to/TO resist/VB tende
r/JJ offers/NNS for/IN any/DT and/CC all/DT shares/NNS for/I
N cash/NN ./. Schlang/NNP said/VBD ChemLawn/NNP could/MD try
/VB to/TO find/VB a/DT white/JJ knight/NN if/IN does/VBZ not
/RB want/VB to/TO be/VB acquired/VBN by/IN Waste/NNP Managem
ent/NNP ./. Analyst/NN Rosemarie/NNP Morbelli/NNP of/IN Inga
lls/NNP and/CC Snyder/NNP said/VBD ServiceMaster/NNP Compani
es/NNS L.P./NNP
P were/VBD examples/NNS of/IN companies/NNS that/WDT could/M
D be/VB interested/VBN ./. ChemLawn/NNP ,/, with/IN about/IN
two/CD mln/JJ customers/NNS ,/, is/VBZ the/DT largest/JJS U
.S./NNP company/NN involved/VBN in/IN application/NN of/IN f
ertilizers/NNS ,/, pesticides/NNS and/CC herbicides/NNS on/I
N lawns/NNS ./. Waste/NNP Management/NNP is/VBZ involved/VBN
in/IN removal/NN of/IN wastes/NNS ./. Schlang/NNP said/VBD
ChemLawn/NNP ‘s/POS customer/NN base/NN could/MD be/VB valua
ble/JJ to/TO another/DT company/NN that/WDT wants/VBZ to/TO
capitalize/VB on/IN a/DT strong/JJ residential/JJ and/CC com
mercial/JJ distribution/NN system/NN ./. Both/DT Schlang/NNP
and/CC Morbelli/NNP noted/VBD that/IN high/JJ growth/NN rat
es/NNS had/VBD catapulted/VBN ChemLawn/NNP ‘s/POS share/NN p
rice/NN into/IN the/DT mid-30/NN ‘s/POS in/IN 1983/CD but/CC
the/DT stock/NN languished/VBD as/IN the/DT rate/NN of/IN g
rowth/NN slowed/VBD ./. Schlang/NNP said/VBD the/DT company/
NN ‘s/POS profits/NNS are/VBP concentrated/VBN in/IN the/DT
fourth/JJ quarter/NN ./. In/IN 1986/CD ChemLawn/NNP earned/V
BD 1.19/CD dlrs/NNS per/IN share/NN for/IN the/DT full/JJ ye
ar/NN ,/, and/CC 2.58/CD dlrs/NNS in/IN the/DT fourth/JJ qua
rter/NN ./. Morbelli/NNP noted/VBD ChemLawn/NNP competes/VBZ
with/IN thousands/NNS of/IN individual/JJ entrepreuers/NNS
who/WP offer/VBP lawn/NN and/CC garden/NN care/NN sevice/NN
./. Reuter/NNP”
document 22
[1] “
y/NN of/IN British/NNP and/CC Commonwealth/NNP Shipping/NNP
Co/NNP Plc/NNP
d/VBN in/IN principle/NN to/TO buy/VB an/DT 80/CD pct/JJ sta
ke/NN in/IN
t/IN 79/CD mln/NN dlrs/NNS ./. Exco/NNP Chairman/NNP Richard
/NNP Lacy/NNP told/VBD Reuters/NNP the/DT acquisition/NN was
/VBD being/VBG made/VBN from/IN Bank/NNP of/IN New/NNP York/
NNP Co/NNP Inc/NNP
s/VBZ a/DT 50.1/CD pct/NN ,/, and/CC from/IN RMJ/NNP partner
s/NNS who/WP hold/VBP the/DT remainder/NN ./. Bank/NNP of/IN
New/NNP York/NNP and/CC the/DT partners/NNS will/MD retain/
VB about/IN 10/CD pct/NN each/DT and/CC these/DT stakes/NNS
will/MD be/VB bought/VBN over/IN the/DT next/JJ six/CD years
/NNS ./. RMJ/NN is/VBZ the/DT holding/VBG company/NN of/IN R
MJ/NNP Securities/NNPS ,/, one/CD of/IN the/DT largest/JJS U
.S./NNP Government/NN securities/NNS brokers/NNS ./. It/PRP
is/VBZ also/RB involved/VBN in/IN broking/VBG notes/NNS ,/,
obligations/NNS and/CC other/JJ instruments/NNS sponsored/VB
N by/IN U.S./NNP Federal/NNP agencies/NNS ./. Lacy/NNP said/
VBD Exco/NNP had/VBD been/VBN considering/VBG buying/VBG a/D
T U.S./NNP Government/NN securities/NNS broker/NN for/IN the
/DT past/JJ four/CD years/NNS and/CC had/VBD made/VBN an/DT
offer/NN for/IN RMJ/NNP when/WRB it/PRP was/VBD sold/VBN by/
IN Security/NNP Pacific/NNP Corp/NNP
CD ./. RMJ/NN was/VBD then/RB valued/VBN at/IN about/IN 50/C
D mln/NN dlrs/NNS ./. B/NNP and/CC C/NNP managing/NN directo
r/NN Peter/NNP Goldie/NNP said/VBD RMJ/NNP would/MD be/VB bo
ught/VBN at/IN about/IN the/DT same/JJ multiple/JJ as/IN Exc
o/NNP ,/, suggesting/VBG net/JJ income/NN of/IN around/RB 16
/CD mln/NN dlrs/NNS ./. The/DT company/NN ‘s/POS earnings/NN
S had/VBD not/RB been/VBN hit/VBN by/IN the/DT halving/NN of
/IN brokerage/NN fees/NNS some/DT 14/CD months/NNS ago/RB as
/IN volumes/NNS had/VBD since/IN doubled/VBN ./. Lacy/NNP sa
id/VBD that/IN RMJ/NNP employed/VBD some/DT 300/CD people/NN
S ,/, with/IN 200/CD in/IN the/DT brokerage/NN business/NN a
nd/CC about/IN 70/CD in/IN its/PRP$
/, which/WDT provided/VBD computer/NN software/NN for/IN the
/DT financial/JJ services/NNS community/NN ./. RMJ/NNP Secur
ities/NNPS had/VBD offices/NNS in/IN New/NNP York/NNP ,/, wh
ere/WRB total/JJ market/NN turnover/NN of/IN U.S./NNP Govern
ment/NNP securities/NNS was/VBD 110/CD billion/CD dlrs/NNS a
/DT day/NN ,/, and/CC in/IN London/NNP where/WRB it/PRP has/
VBZ 15/CD billion/CD ./. It/PRP was/VBD also/RB given/VBN pe
rmission/NN last/JJ week/NN to/TO open/VB an/DT office/NN in
/IN Tokyo/NNP where/WRB total/JJ market/NN turnover/NN had/V
BD lifted/VBN rapidly/RB to/TO about/IN five/CD billion/CD d
lrs/NNS a/DT day/NN ./. The/DT acquisition/NN would/MD contr
ibute/VB between/IN five/CD and/CC 10/CD pct/NN of/IN B/NNP
and/CC C/NNP ‘s/POS share/NN earnings/NNS in/IN 1987/CD on/I
N a/DT proforma/FW basis/NN ./. REUTER/NN”
document 42
[1] “
it/PRP agreed/VBD to/TO issue/VB 7.8/CD mln/NN treasury/NN
shares/NNS to/TO acquire/VB interests/NNS in/IN three/CD gol
d/JJ mining/NN companies/NNS in/IN Brazil/NNP and/CC an/DT o
ption/NN to/TO increase/VB the/DT company/NN ‘s/POS interest
/NN in/IN a/DT platinum/NN property/NN ./. The/DT company/NN
said/VBD the/DT transactions/NNS will/MD bring/VB immediate
/JJ production/NN and/CC earnings/NNS to/TO Consolidated/NNP
TVX/NNP ,/, enhance/VB its/PRP$ precious/JJ metal/NN potent
ial/NN and/CC is/VBZ expected/VBN to/TO improve/VB cash/NN f
low/NN and/CC earnings/NNS on/IN a/DT per/FW share/NN basis/
NN ./. The/DT company/NN did/VBD not/RB give/VB specific/JJ
figures/NNS ./. Consolidated/NNP TVX/NNP said/VBD it/PRP wil
l/MD acquire/VB 29/CD pct/NN of/IN CMP/NNP ,/, a/DT public/J
J gold/NN mining/NN company/NN in/IN which/WDT TVX/NNP alrea
dy/RB holds/VBZ a/DT 15/CD pct/JJ interest/NN ,/, making/VBG
TVX/NNP the/DT largest/JJS single/JJ shareholder/NN ./. The
/DT company/NN also/RB agreed/VBD to/TO acquire/VB a/DT 19/C
D pct/NN stake/NN in/IN Novo/NNP Astro/NNP ,/, a/DT private/
JJ company/NN ,/, and/CC a/DT 16/CD pct/JJ interest/NN in/IN
Teles/NNP Pires/NNP Mining/NNP ,/, increasing/VBG the/DT TV
X/NNP ‘s/POS ownership/NN to/TO 51/CD pct/NN ./. In/IN addit
ion/NN ,/, Consolidated/NNP TVX/NNP said/VBD it/PRP will/MD
acquire/VB the/DT right/NN to/TO add/VB a/DT 10/CD pct/JJ in
terest/NN to/TO a/DT platinum/NN property/NN in/IN which/WDT
it/PRP already/RB owns/VBZ a/DT 29.4/CD pct/NN stake/NN ./.
CMP/NNP earned/VBD 11/CD mln/NN Canadian/JJ dlrs/NNS in/IN
1986/CD and/CC expects/VBZ to/TO produce/VB 42,000/CD ounces
/NNS of/IN gold/NN in/IN 1987/CD at/IN a/DT cost/NN of/IN 16
0/CD U.S./NNP dlrs/NNS an/DT ounce/NN ,/, Consolidated/NNP T
VX/NNP said/VBD ./. Novo/NNP Astro/NNP operates/VBZ Brazil/N
NP ‘s/POS richest/JJS gold/NN mine/NN located/VBN in/IN Amap
a/NNP State/NNP ,/, with/IN an/DT average/JJ grade/NN of/IN
0.8/CD ounces/NNS of/IN gold/NN a/DT ton/NN in/IN a/DT hardr
ock/NN quartz/NN vein/NN ,/, Consolidated/NNP TVX/NNP said/V
BD ./. Mining/NN of/IN eluvial/JJ surface/NN material/NN pro
duced/VBD 25,000/CD ounces/NNS in/IN 1986/CD and/CC is/VBZ e
xpected/VBN to/TO produce/VB 60,000/CD ounces/NNS in/IN 1987
/CD ./. It/PRP also/RB said/VBD Teles/NNP Pires/NNP Mining/N
NP controls/VBZ rights/NNS to/TO a/DT 350/CD kilometer/NN se
ction/NN of/IN the/DT Teles/NNP Pires/NNP River/NNP ,/, wher
e/WRB one/CD dredge/NN is/VBZ expected/VBN to/TO produce/VB
10,000/CD ounces/NNS of/IN gold/NN in/IN 1987/CD ./. Reuter/
NNP”
document 34
[1] “Viacom/NNP International/NNP Inc/NNP said/VBD it/PRP re
ceived/VBD revised/VBN merger/NN offers/NNS from/IN
mittee/NN plans/VBZ to/TO meet/VB later/RB today/RB to/TO re
view/VB both/DT offers/NNS ./. Viacom/NNP said/VBD National/
NNP Amusements/NNP ‘/POS Arsenal/NNP Holdings/NNPS Inc/NNP r
aised/VBD the/DT value/NN of/IN its/PRP$ offer/NN for/IN the
/DT Viacom/NNP shares/NNS not/RB held/VBN by/IN National/NNP
Amusements/NNP in/IN three/CD areas/NNS ./. National/NNP Am
usements/NNP holds/VBZ 19.6/CD pct/NN of/IN Viacom/NNP ‘s/PO
S stock/NN ./. The/DT cash/NN value/NN of/IN the/DT offer/NN
was/VBD raised/VBN to/TO 42.00/CD dlrs/NNS from/IN the/DT 4
0.50/CD dlrs/NNS a/DT Viacom/NNP share/NN offered/VBD Februa
ry/NNP 23/CD while/IN the/DT value/NN of/IN the/DT fraction/
NN of/IN a/DT share/NN of/IN exchangeable/JJ preferred/VBN b
eing/VBG offered/VBD was/VBD increased/VBN to/TO 7.50/CD dlr
s/NNS a/DT share/NN from/IN six/CD dlrs/NNS ./. The/DT inter
est/NN rate/NN to/TO be/VB used/VBN to/TO increase/VB the/DT
cash/NN value/NN of/IN the/DT merger/NN ,/, if/IN delayed/V
BN beyond/IN April/NNP 30/CD ,/, was/VBD raised/VBN to/TO ni
ne/CD pct/NN from/IN eight/CD pct/NN and/CC 12/CD pct/NN aft
er/IN May/NNP 31/CD ./. A/DT Viacom/NNP spokesman/NN said/VB
D the/DT Arsenal/NNP Holdings/NNP ‘s/POS offer/NN continues/
VBZ to/TO include/VB a/DT 20/CD pct/JJ interest/NN in/IN Ars
enal/NNP for/IN present/JJ Viacom/NNP shareholders/NNS ./. V
iacom/NNP said/VBD MCV/NNP Holdings/NNP ,/, a/DT group/NN wh
ich/WDT includes/VBZ the/DT company/NN ‘s/POS senior/JJ mana
gement/NN and/CC the/DT Equitable/NNP Life/NNP Assurance/NNP
Society/NNP of/IN the/DT United/NNP States/NNP ,/, raised/V
BD the/DT value/NN of/IN its/PRP$ offer/NN by/IN increasing/
VBG the/DT value/NN of/IN the/DT preferred/VBN being/NN offe
red/VBD to/TO 8.50/CD dlrs/NNS from/IN 8.00/CD dlrs/NNS a/DT
share/NN and/CC raising/VBG the/DT ownership/NN in/IN the/D
T new/JJ company/NN to/TO be/VB held/VBN by/IN present/JJ Vi
acom/NNP shareholders/NNS to/TO 45/CD pct/NN from/IN 25/CD p
ct/NN ./. MCV/NNP called/VBD its/PRP$ previous/JJ offer/NN ,
/, made/VBN February/NNP 26/CD ,/, the/DT \”final/JJ \”/“ p
roposed/VBN revision/NN of/IN its/PRP$ agreement/NN with/IN
Viacom/NNP ./. Reuter/NNP”
document 1
[1] “Computer/NNP Terminal/NNPS Systems/NNPS Inc/NNP said/VB
D it/PRP has/VBZ completed/VBN the/DT sale/NN of/IN 200,000/
CD shares/NNS of/IN its/PRP$ common/JJ stock/NN ,/, and/CC w
arrants/NNS to/TO acquire/VB an/DT additional/JJ one/CD mln/
NN shares/NNS ,/, to/TO
no/NNP ,/, Switzerland/NNP for/IN 50,000/CD dlrs/NNS ./. The
/DT company/NN said/VBD the/DT warrants/NNS are/VBP exercisa
ble/JJ for/IN five/CD years/NNS at/IN a/DT purchase/NN price
/NN of/IN .125/CD dlrs/NNS per/IN share/NN ./. Computer/NNP
Terminal/NNP said/VBD Sedio/NNP also/RB has/VBZ the/DT right
/NN to/TO buy/VB additional/JJ shares/NNS and/CC increase/VB
its/PRP$ total/NN holdings/NNS up/RB to/TO 40/CD pct/NN of/
IN the/DT Computer/NNP Terminal/NNP ‘s/POS outstanding/JJ co
mmon/JJ stock/NN under/IN certain/JJ circumstances/NNS invol
ving/VBG change/NN of/IN control/NN at/IN the/DT company/NN
./. The/DT company/NN said/VBD if/IN the/DT conditions/NNS o
ccur/VBP the/DT warrants/NNS would/MD be/VB exercisable/JJ a
t/IN a/DT price/NN equal/JJ to/TO 75/CD pct/NN of/IN its/PRP
$ common/JJ stock/NN ‘s/POS market/NN price/NN at/IN the/DT
time/NN ,/, not/RB to/TO exceed/VB 1.50/CD dlrs/NNS per/IN s
hare/NN ./. Computer/NNP Terminal/NNP also/RB said/VBD it/PR
P sold/VBD the/DT technolgy/NN rights/NNS to/TO its/PRP$ Dot
/NNP Matrix/NNP impact/NN technology/NN ,/, including/VBG an
y/DT future/JJ improvements/NNS ,/, to/TO
NP of/IN Houston/NNP ,/, Tex/NNP ./. for/IN 200,000/CD dlrs/
NNS ./. But/CC ,/, it/PRP said/VBD it/PRP would/MD continue/
VB to/TO be/VB the/DT exclusive/JJ worldwide/JJ licensee/NN
of/IN the/DT technology/NN for/IN Woodco/NNP ./. The/DT comp
any/NN said/VBD the/DT moves/NNS were/VBD part/NN of/IN its/
PRP$ reorganization/NN plan/NN and/CC would/MD help/VB pay/V
B current/JJ operation/NN costs/NNS and/CC ensure/VB product
/NN delivery/NN ./. Computer/NNP Terminal/NNP makes/VBZ comp
uter/NN generated/VBD labels/NNS ,/, forms/NNS ,/, tags/NNS
and/CC ticket/NN printers/NNS and/CC terminals/NNS ./. Reute
r/NNP”
document 20
[1] “
tender/NN offer/NN for/IN up/RB to/TO 33/CD mln/NN ordinary
/JJ shares/NNS in/IN Imperial/NNP Continental/NNP Gas/NNP As
sociation/NNP .
tatement/NN the/DT offer/NN was/VBD on/IN the/DT basis/NN of
/IN 700p/CD for/IN each/DT IC/NN Gas/NNP ordinary/JJ and/CC
252p/JJ for/IN every/DT one/CD stg/JJ nominal/NN of/IN IC/NN
Gas/NNP loan/NN stock/NN ./. SHV/NNP already/RB holds/VBZ 6
.8/CD mln/NN IC/NN Gas/NNP ordinary/JJ stock/NN units/NNS re
presenting/VBG around/RB 4.9/CD pct/NN of/IN the/DT current/
JJ issued/JJ share/NN capital/NN ./. Successful/JJ completio
n/NN of/IN the/DT offer/NN would/MD increase/VB SHV/NNP ‘s/P
OS stake/NN in/IN IC/NNP Gas/NNP to/TO 39.8/CD mln/NN shares
/NNS ,/, representing/VBG around/IN 27.9/CD pct/NN of/IN iss
ued/VBN share/NN capital/NN ,/, it/PRP said/VBD ./. The/DT o
ffer/NN capitalises/NNS IC/NN Gas/NNP at/IN around/IN one/CD
billion/CD stg/NN ./. It/PRP said/VBD it/PRP was/VBD tender
ing/VBG for/IN both/DT ordinary/JJ stock/NN and/CC loan/NN s
tock/NN ,/, which/WDT when/WRB fully/RB converted/VBN ,/, ga
ve/VBD a/DT total/NN of/IN 33/CD mln/NN IC/NN Gas/NNP ordina
ry/JJ ./. It/PRP is/VBZ making/VBG the/DT tender/NN offer/NN
through/IN N.M./NNP Rothschilds/NNPS ./. IC/NN Gas/NNP said
/VBD in/IN a/DT statement/NN it/PRP noted/VBD the/DT SHV/NNP
tender/NN offer/NN and/CC the/DT terms/NNS were/VBD being/V
BG considered/VBN ./. It/PRP said/VBD a/DT further/JJ statem
ent/NN would/MD be/VB made/VBN as/RB soon/RB as/IN possible/
JJ ./. REUTER…/.”
document 50
[1] “Union/NNP Carbide/NNP Corp/NNP is/VBZ looking/VBG to/TO
acquisitions/NNS and/CC joint/JJ ventures/NNS to/TO aid/VB
its/PRP$ chemicals/NNS and/CC plastics/NNS growth/NN ,/, acc
ording/VBG the/DT H.W./NNP Lichtenberger/NNP ,/, president/N
N of/IN Chemicals/NNP and/CC Plastics/NNPS ./. Describing/VB
G this/DT as/IN a/DT major/JJ departure/NN in/IN the/DT comp
any/NN ‘s/POS approach/NN to/TO commercial/JJ development/NN
,/, he/PRP told/VBD the/DT annual/JJ new/JJ business/NN for
um/NN of/IN the/DT Commercial/NNP Development/NNP Associatio
n/NNP \”/“ We/PRP are/VBP looking/VBG to/TO acquisitions/NN
S and/CC joint/JJ ventures/NNS when/WRB they/PRP look/VBP li
ke/IN the/DT fastest/JJS and/CC most/RBS promising/JJ routes
/NNS to/TO the/DT growth/NN markets/NNS we/PRP ‘ve/VBP ident
ified/VBN ./. \”/” Not/RB very/RB long/RB ago/IN Union/NNP
Carbide/NNP had/VBD the/DT attitude/NN \”/“ that/IN if/IN w
e/PRP could/MD n’t/RB do/VB it/PRP ourselves/PRP ,/, it/PRP
was/VBD n’t/RB worth/JJ doing/VBG ./. Or/CC ,/, if/IN it/PRP
was/VBD worth/JJ doing/VBG ,/, we/PRP had/VBD to/TO go/VB i
t/PRP alone/RB ,/, \”/” Lichtenberger/NNP explained/VBD ./.
He/PRP said/VBD \”/“ there/EX are/VBP times/NNS when/WRB e
xploiting/VBG a/DT profitable/JJ market/NN is/VBZ done/VBN b
est/RB with/IN a/DT partner/NN ./. Nor/CC do/VBP we/PRP see/
VB any/DT need/NN to/TO plow/VB resources/NNS into/IN a/DT t
echnology/NN we/PRP may/MD not/RB have/VB if/IN we/PRP can/M
D link/VB up/RP profitably/RB with/IN someone/NN who/WP is/V
BZ already/RB there/RB ./. \”/” He/PRP said/VBD Carbide/NNP
has/VBZ extended/VBN its/PRP$ catalyst/NN business/NN that/
IN way/NN and/CC is/VBZ now/RB extending/VBG its/PRP$ specia
lty/NN chemicals/NNS business/NN in/IN the/DT same/JJ way/NN
./. Reuter/NNP”
document 36
[1] “Pittston/NNP Co/NNP said/VBD it/PRP has/VBZ tentatively
/RB agreed/VBN to/TO acquire/VB WTC/NNP International/NNP N.
V./NNP in/IN a/DT tax-free/JJ exchange/NN of/IN stock/NN ./.
Pittston/NNP said/VBD it/PRP agreed/VBD to/TO exchange/VB 0
.523/CD common/JJ share/NN for/IN each/DT of/IN the/DT about
/RB 8,612,000/CD WTC/NNP common/JJ shares/NNS outstanding/JJ
./. Pittston/NNP said/VBD WTC/NNP ‘s/POS three/CD principal
/JJ shareholders/NNS ,/, who/WP own/VBP 62/CD pct/NN of/IN i
ts/PRP$ stock/NN ,/, are/VBP parties/NNS to/TO this/DT agree
ment/NN ./. They/PRP have/VBP granted/VBN Pittston/NNP the/D
T right/NN of/IN first/JJ refusal/NN to/TO their/PRP$ shares
/NNS ./. WTC/NNP has/VBZ granted/VBN Pittston/NNP an/DT opti
on/NN to/TO buy/VB WTC/NNP shares/NNS equal/JJ to/TO 18.5/CD
poct/NN of/IN its/PRP$ outstanding/JJ stock/NN ./. The/DT a
greement/NN is/VBZ subject/JJ to/TO approval/NN of/IN both/D
T boards/NNS and/CC WTC/NNP shareholders/NNS ./. Pittston/NN
P said/VBD described/VBN WTC/NNP as/IN a/DT fast/RB growing/
VBG air/NN freight/NN forwarding/VBG company/NN with/IN oper
ations/NNS throughout/IN the/DT world/NN ./. Its/PRP$ revenu
es/NNS totaled/VBD nearly/RB 200/CD mln/NN dlrs/NNS in/IN th
e/DT year/NN ended/VBD November/NNP 30/CD and/CC for/IN the/
DT quarter/NN ended/VBD on/IN that/DT date/NN it/PRP earned/
VBD 1.3/CD mln/NN dlrs/NNS on/IN revenues/NNS of/IN 55.8/CD
mln/NN dlrs/NNS ./. Pittston/NNP said/VBD its/PRP$ Burlingto
n/NNP Air/NNP Express/NNP subsidiary/NN generates/VBZ about/
IN two-thirds/NNS of/IN its/PRP$ 450/CD mln/JJ dlrs/NNS in/I
N annual/JJ revenes/NNS with/IN its/PRP$ domestic/JJ air/NN
freight/NN services/NNS ./. Reuter/NNP”
document 44
[1] “
orting/VBG an/DT initial/JJ six/CD month/NN loss/NN ,/, said
/VBD it/PRP agreed/VBD to/TO sell/VB wholly/RB owned/VBN Mul
ti-Step/NNP Manufacturing/NNP Inc/NNP for/IN 100,000/CD dlrs
/NNS cash/NN ,/, subject/JJ to/TO shareholder/NN and/CC regu
latory/JJ approval/NN ./. Multi-Step/NNP also/RB said/VBD it
/PRP will/MD pay/VB 900,000/CD dlrs/NNS to/TO cancel/VB 711,
192/CD of/IN its/PRP$ own/JJ shares/NNS ,/, which/WDT will/M
D be/VB acquired/VBN from/IN Michael/NNP Penhale/NNP and/CC
his/PRP$ benficiaries/NNS ./. Penhale/NNP will/MD control/VB
and/CC manage/VB Multi-Step/NNP Manufacturing/NNP ,/, follo
wing/VBG the/DT transactions/NNS ./. Multi-Step/NNP had/VBD
a/DT 739,146/CD dlr/JJ loss/NN for/IN the/DT six/CD months/N
NS ended/VBN December/NNP 31/CD ./. The/DT company/NN receiv
ed/VBD its/PRP$ initial/JJ public/JJ listing/NN in/IN Decemb
er/NNP ./. The/DT company/NN said/VBD its/PRP$ ladder-making
/JJ unit/NN has/VBZ been/VBN losing/VBG 300,000/CD dlrs/NNS
quarterly/JJ ./. The/DT sale/NN ,/, expected/VBN to/TO close
/VB in/IN April/NNP ,/, also/RB calls/VBZ for/IN retirement/
NN of/IN the/DT unit/NN ‘s/POS 400,000/CD dlr/JJ bank/NN deb
t/NN ,/, Multi-Step/NNP said/VBD ./. The/DT unit/NN also/RB
has/VBZ agreed/VBN to/TO pay/VB a/DT debt/NN of/IN 400,000/C
D dlrs/NNS to/TO Tarxien/NNP Company/NNP Ltd/NNP ,/, which/W
DT is/VBZ 40/CD pct/NN owned/VBN by/IN Multi-Step./NNP Multi
-Step/NNP previously/RB said/VBD it/PRP agreed/VBD to/TO acq
uire/VB the/DT remaining/VBG 60/CD pct/NN of/IN Tarxien/NNP
it/PRP does/VBZ not/RB already/RB own/JJ ./. Reuter/NNP”
document 18
[1] “Toshin/NNP Steel/NNP Co/NNP Ltd/NNP
N Nippon/NNP Kokan/NNP KK/NNP
dering/VBG a/DT merger/NN ,/, company/NN spokesmen/NNS said/
VBD ./. Toshin/NNP Steel/NNP ,/, owned/VBD 41.9/CD pct/NN by
/IN Nippon/NNP Kokan/NNP ,/, and/CC Azuma/NNP Steel/NNP ,/,
owned/VBD 41.3/CD pct/NN by/IN Nippon/NNP Kokan/NNP ,/, are/
VBP expected/VBN to/TO decide/VB by/IN the/DT end/NN of/IN M
arch/NNP ,/, they/PRP said/VBD ./. Both/DT firms/NNS have/VB
P been/VBN struggling/VBG with/IN losses/NNS caused/VBN by/I
N the/DT recession/NN in/IN the/DT steel/NN industry/NN and/
CC the/DT yen/NN ‘s/POS appreciation/NN ./. Azuma/NNP Steel/
NNP ‘s/POS current/JJ losses/NNS are/VBP estimated/VBN at/IN
3.1/CD billion/CD yen/NNS in/IN the/DT year/NN ending/VBG M
arch/NNP 31/CD against/IN a/DT 6.99/CD billion/CD loss/NN a/
DT year/NN earlier/RBR ,/, a/DT spokesman/NN said/VBD ./. Th
e/DT firm/NN employs/VBZ 1,100/CD workers/NNS Toshin/NNP Ste
el/NNP ,/, with/IN 1,700/CD workers/NNS ,/, has/VBZ given/VB
N no/DT forecast/NN for/IN the/DT year/NN ending/VBG March/N
NP 31/CD ./. But/CC industry/NN sources/NNS said/VBD they/PR
P expected/VBD the/DT company/NN to/TO show/VB current/JJ lo
sses/NNS of/IN about/IN five/CD billion/CD yen/NNS or/CC mor
e/JJR in/IN 1986/8/CD 7/CD compared/VBN with/IN a/DT 2.98/CD
billion/CD loss/NN in/IN 1985/86/CD ./. REUTER/NN”
>
Analyze word frequency
h
Find word or phrase
search <- function(word) { for(i in 1:50) { lines = strsplit(acq[[i]]$content, "\n")[[1]]; for(j in 1:length(lines)) { words = strsplit(lines[j], " ")[[1]]; for(k in 1:length(words)) { if(word == words[k]) { cat("document number:", i, " line number:", j, "word index:", k, "\n"); return (c(i, j, k)); } } } } cat("not found\n"); return (c(-1,-1,-1)); } Learning from This Project Though this project, I have learned to use R to do various k ind of text processing. These techniques learnt include comp uting document term matrix, tokenizing documents to sentence s or words, visualization such as dendrogram and word cloud, doing part of speech tagging. I have familiar myself with several R packages for text anal ytics such as tm and opennlp . I also enhance my R skill by implementing several functions and learned to break large problems into small problems. In summary, I think I learned a lot from this project and I look forward to learn more data science knowledge.