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Show Sunday, February Huntsman to sweeten bid for Aristech PITTSBURGH (AP) A Utah chemical magnate savs he mav be able to offer at least $934.2 million for Aristech Chemical Corp. if the company's board gives him two more weeks to look over company documents, talk with its senior ex- ecutives and visit some of its plants. Salt Lake City businessman Jon Huntsman has asked Aristech to give him until Feb. 14 to review financial data and form a joint venture with General Electric Co.'s GE Plastics division, based in Pitts-fiel- d, Mass. The 0 joint venture could enable Huntsman to offer at least $27 a share for the Pittsburgh-base- d company, according to a letter Huntsman sent Tuesdav to Aristech board member R.S. Evans. A deadline set by a special Aris 50-5- tech board committee expired at 5 p.m. Monday. The committee set the deadline after Aristech managers and Mitsubishi Corp. of Japan said their offer, worth $899.6 million, would expire at the end of business Tuesday. The senior management group is led by Aristech Chairman Thomas Marshall. Mitsubishi spokesman Peter Rosenthal declined to comment Tuesday on the status of that offer. The company's stock remained unchanged at $25.25 at the close of trading Tuesday on the New York Stock Exchange. Aristech spokesman David Higie declined comment early today. Huntsman's earlier bid of $25 a share was rejected in November as inadequate. Aristech, which employs about 1,800 people in eight states, has reserved the option of rejecting any of the d offers and suggested that if none is high enough it will reopen bidding. In his letter, Huntsman said he needs to see more Aristech financial records to finalize an offer. After signing a confidentiality agreement Jan. 24, Huntsman received "certain limited financial information on Aristech," his letter said. "However, as we have advised you. we need access to considerable additional information and people." Huntsman also complained he hasn't had time to visit Aristech's facilities, review various documents at the company's headquarters, meet with the company's independent auditors or talk with most of the company's senior officers. "You are all aware that Mitsubishi, working with Mr. Marshall and other members of our management, have had an enormous amount of time to study fully all aspects of the company's business, assets, liability and prospects," the letter said. "Rest assured that our bid will be at least $27 per share unless some materially negative information comes to our attention as a result of our due diligence work." Aristech has about 32 nullion outstanding shares or the equivalent of about 34.6 million fully diluted outstanding shares. Huntsman currently owns 8.7 percent of the company's stock, according to Huntsman spokesman Joele Frank. Aristech refused a request made earlier by Huntsman to extend the deadline. first-roun- re rady backs off interest rate cut - was scheduled (AP) Treasury visit President Bush s' to a next to make the day Nicholas F. Secretary Bradv tried convention. The housing to distance the Bush administration Friday from its earlier calls for industry has been in a slump for lower interest rates, saying those the past year due to high mortgage rates. remarks were aimed at a s' "Presidents generally talk about convention. Brady's comments were an indi- lower interest rates at housing concation the White House may be ferences," Brady said. The White House generally retrying to ease the pressure it has been placing in recent weeks on the frains from commenting publicly on Federal Reserve Board to take ac- Federal Reserve policy tions to lower interest rates. Asked by committee Chairman whether Lee Hamilton, Testifying before the Joint Economic Committee of Congress, comments were inapproBrady said a statement made two priate, Brady said, "Not in light of weeks ago by White House spokes- what I understand was the reason man Marlin Fitzwater urging lower for the statement being given." rates "was not meant to be a Brady said he holds "vigorous contest with the Fed." discussions" weekly with Fed Chairman Alan Greenspan in which Brady said he understood Fitzwater was aiming his remark at a disagreements are expressed, but he declined to reveal the specifics of their talks. "The administration probably has a bias toward growth that's greater than that of the Fed," Brady said. "At the same time, we keep a radio-base- d weather eye on inflation." Brady's remarks today came only four days before Federal Reserve policymakers were scheduled to session in Washhold a closed-doo- r ington where they will set monetary WASHINGTON home-builder- home-builder- targets for the rest of the year. On Jan. 18, Fitzwater told White House reporters that a recent prime rate reduction by banks had not been passed through to the general economy. He said, "It's important occasionally to point out that lower interest rates are normally good for the economy." Fitzwater went on to cite Commerce Department statistics showing a drop in housing starts as Fitz-water- 's Prices Effective: February 4th to 6th, 1990 Jslr Western Famiy MORIlllGEJUICEfe Pillsbury FLOU FLfSJf 1 i Bleached KURD ' FLOUR fa fa fa D,,ln- - miiXVYQYl M . Portable (AP) computer owners will be able to tap into central computers from almost anywhere, without using telephone lines, through a nationwide radio network being developed by IBM and Motorola Inc. "We're giving the mobile worker access to data he's never had before," said Jack Blumenstein, an International Business Machine Corp. executive who was named president of the joint venture, called Ardis. Motorola had offered a similar service to clients in New York, Chicago and Ixs Angeles and had sysdesigned a nationwide tem for IBM service technicians. The companies said Tuesday they decided to combine the networks to get a payback from hundreds of millions of invested dollars. For Motorola, it provides a national radio network to market to new clients. Ardis officials said Sears, Roebuck and Co. and New York Life Insurance Co. are among major companies testing the system. Potential users include field service personnel such as equipment maintenance technicians, real esYORK tate brokers, package-deliver- mm Avon calling in China (AIM - f CAKE MIX S er Variety General Milis WHEATIES 18 China is home operation by the middle of this year and to make a profit in its third year. 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Call them today at wi-t- c way to free up the equity in your home and create a line of credit.' 2. a Ion) n: . v you. 5. a way to maximize vour tax benefits. idation. 4. family vacation. 5. an investment. 6. college education. uvc Pampers Thick est and cut debts. 4. a way to get your home to work for (Jidin) n: Guangzhou Cosmutics Factory, which will provide the plant. James K. Preston. Avon chairman and chief executive officer, said China has enormous potential as a market for cosmetics. "There are about :"tn nullion women in China, more than the U.S. and Europe combined." he sat I. The venture is expected to be in Oz. Pkg. i) 1Y ANY DEFMmOM. tax benefit. 3. debt consol- opening its door to Avon. Avon Products Inc. said this week its cosmetics will be made and sold in China in a joint venture with 1 mo 1 1. YORK b y workers, police officers and insurance agents. terminal By using a hand-hel- d hooked to the radio network, a mobile home appliance repairman could be told by his headquarters what service calls to make, and in turn could check on the availability of parts from his company's warehouse. The service, which will be available in April, would appear to be in competition with cellular telephones. By using cellular phones and a modem, a portable computer can be hooked up to a mainframe computer. But IBM and Motorola say their system is more useful because it is oil line all the time there's no need to dial up a computer. account D3 WW Allen's Super Save i L Page MB 8fl llW?(o& computer network told NEW THE HERALD, Provo, Utah, evidence that lower interest rates are needed. The next day in Atlanta, Bush told the National Association of Homebuilders that he wants interest rates to drop further. "The truth is, there's one housing policy and one sales strategy that's better than all others combined a healthy growing economy with low, long-terinterest rates," Bush said. Nationwide NEW i l91 I I D I te 1 til PwriiUumcPumr bills, pay less inter SPRINGVILLE OS 340 S. Main AMERICAN FORK YOUR HOMETOWN 175 E. Main GROCER Eq-jit- Leans tr;d 75 low to '.I'jiJ Eou.ii Hou'.ifNl l.n;r No dealer sales. Ve reserve the right to limit quantities |