Reported by Star-Bulletin staff & wire
Wednesday, May 21, 1997
Liberty House said it will open a Home Outlet at the former Ross Stores site next to Sports Authority on Ward Avenue. Liberty House brings
Home Outlet to WardThe 21,302-square-foot store, scheduled to open in July, will be Liberty House's third Home Outlet shop and its first in Honolulu's urban core.
Liberty House operates Home Outlets at the Waikele Center and the Maui Marketplace.
Like those stores, the Kakaako Home Outlet will retail housewares, bed and bath items, cookware, luggage and kitchen appliances.
Founded in 1849, Liberty House operates 10 department stores and 31 resort and specialty shops in Hawaii and Guam.
NEW YORK -- Household International Inc. agreed to acquire the consumer lending business of San Francisco-based Transamerica Corp. for $1.1 billion in cash, the companies announced today. Household Int'l to buy
Transamerica unitHousehold said the purchase would build its portfolio of loans secured by real estate by $3 billion, or almost 38 percent, and bring its total managed assets to more than $50 billion. It would nearly double its branches to 970 from 550. Household would run the acquired branches under the HFC brand.
Prospect Heights, Ill.-based Household said it expects the acquisition to boost its earnings as early as this year and result in "significant cost savings." The purchase is expected to close before June 30.
EXETER, N.H. -- Tyco International Ltd. has agreed to acquire Keystone International Inc. in a deal valued at $1.2 billion. Tyco plans to acquire
Texas equipment makerKeystone, based in Houston, makes valves and pipes for various industrial customers. Tyco International is a diversified manufacturer not related to Tyco Toys Inc. Its products include disposable medical products, fire extinguishers and valves.
Tyco said Keystone shareholders will receive 0.54183 of a Tyco share for each Keystone share held. That ratio may be adjusted depending on the trading value of Tyco stock. Currently, the deal is valued at $34 a share to Keystone holders.