Business Briefs

Reported by Star-Bulletin staff & wire

Monday, December 15, 1997

Bank of Hawaii's parent splits stock 2-for-1

The price of Pacific Century Financial Corp.'s shares today reflected the two-for-one stock split that took place after the markets closed Friday.

Pacific Century, parent of Bank of Hawaii, closed at $26.19 today, up 19 cents from Friday's close of $26. (after restating the $52 Friday close to show the split).

State considers selling 4,800 Hamakua acres

HILO -- Some of the Hamakua land the state had planned to lease to Oji Paper Co. may be put out for public bidding, according to a state land agent.

Charlene Unoki, Big Island land agent for the Department of Land and Natural Resources, said the property Oji wanted to lease for a eucalyptus tree plantation is now considered "unencumbered lands." Unoki said her office has been getting inquiries from people who want to lease portions of the land. She said she hopes to put some of the land out to bid early next year.

Last month, the state Board of Land and Natural Resources rejected a plan to lease about 4,800 acres to Oji Paper Co. after hundreds of Hamakua residents objected to the lease.

Bethlehem Steel buying rival for $400 million

BETHLEHEM, Pa. -- Bethlehem Steel Corp., the nation's second-largest steelmaker, is buying rival Coatesville, Pa.-based Lukens Inc. for about $400 million in cash and stock.

The companies said as part of the deal announced today they would close a Lukens mill in Coatesville, and a Bethlehem mill in Sparrows Point, Md., and that Bethlehem would divest two Lukens divisions.

In other news . . .

SEATTLE -- Microsoft Corp. today appealed a federal court ruling that prevents it from forcing computer makers to install its Internet browser program as a condition of buying the widely used Windows operating system software.

Microsoft said District Judge Thomas Penfield Jackson's ruling went beyond what the Justice Department asked him to decide.

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