Getting your Trinity Audio player ready...
WHX Corp. said Monday it proposed to buy Teledyne Inc. for about $1.67 billion, or $30 per share.
Teledyne had spent most of 1995 rebuffing the steel company’s hostile takeover offer.
In October, Teledyne said its board decided to stop actively seeking a buyer.
New York-based WHX sent a letter dated Friday to Teledyne’s board, offering to buy the Los Angeles-based aerospace and electronics company in a deal comprising two-thirds cash and one-third stock.
