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RECEIVED AUG 22 1974' MEDICAL DEPARTMENT -T JOURNAL, II, 1974 Newmont Sets aon Bid for Foote V^-l/ U-L-fe.l ^Goodyear, Borden Sued for $284 Million ;jOver Polyvinyl Chloride Meat Wraps JT Mineral Stock By a Wall Street Jocrxal Staff Rryorter |Ol inhalation of the highly toxic films1' from * CLEVELAND -- A class-action suit cutting the meat wrap, "plaintiffs have in- . against Goodyear Tire & Rubber Co. andlcuzred extremely Irritating damage to the L home Borden Inc. asking $281 million in damages'skin. eye. nose, and throat along with short-u A $37.5 Million Offer Comes resulting from chloride meat supermarket use of polyvinyljness of breath, coughing and general respiwrap was filed in Cuyahogairatory distress, which eventually leads to ! I i,--f:_.' ,*-t . > y" ` 1 15 Months After Plan for County common pleas court here. I serious skeletal deterioration with perma- j The complaint was brought by Flortnejnent cardiac and brainal injury." Merger Was Withdrawn Schulta. a former meat wrapper for Ptck-n-l Mre. Schultz's attorney cit^d a Univer-i1 Pay supermarkets, a chetn. It asks Si million R* AKTaix Street Jol-rx vl si., a ^,,*rr Mrs. Schultz and at least caJNleEdW'offY*^OpRroKpo-saFli*ftteoe*mn monthsif^r U;Wr?PPrs employed at 71 Cleveland-based in damages tor 283 other meat CClelevveelalanndd-a-arereaa sity of California at Los Angeles study re- < ported last November linking fumes from { PVC wrap to respiratory ailments. || The attorney said that others exposed to;| PVC or vinyl-chloride fumes in use or man-ij Mineral Co..P Newmont MiSt r k r<wte Pick-n-Pay stores since the chain began Co.. Newmmoonntt Mining rCTMorp. a'"n-'using polyvinyl-chloride wrap in 1967. 7r^~111ntto1shho1uhea8utaNs.tn5rpteeci0artew*enddf'fmdIeotoia"norredrgneso>tend-e3,a'c7stcawo.n5ahnm'htldrmimeocoawihco`flldonniomy*t,hh'anomoe-nlswdtdoaesnn-finJ.d-.3-2ds3-23e-h30-.I5r'a-tA,-0'r-oei-oIffsosofefrorcofFeotfaomofFeco.ro.mhr.t.oiea.no.to'slgnsl ![focawajoenfn^rnnapTeetdpohacilueelaemyfrcucovesiwstnrfdrucniiaupcpdiycttaailho-hrccceernhekokhssaaaniffortgirgcrowieindmeisgrexe,tp"htfohibalasmeetnurisdnrtmhegateahtsuolamsidtdeteeadtahpcntaetogoswmeescrrpexoaupdouptossposistevuiaaoreriinsedrr ufacture of other PVC products may later11 be added as plaintiffs in the suit. He alsorj said other manufacturers of PVC products!) might be added as defendants, but indicated jj Mrs. Schultz hasn't any interest in suing the;! Pick-n-Pay chain, a subsidiary of Cook,! United Inc. until 1972, and currently pri vately owned. Ml C3. f- "allFdote'.* ,4--59,91-5 pre.f.e..r.r.e..d. asuharre,,s.. Both! tv.raesnpiratory, skeletal and cardiac In Chicago, a spokesman for the Amal prices are net cash to the seller The offert ^urics` markets, the suit states, have gamated Meatcutters and Butcher Work expires Sept. 13, unless extended. Lazardlused Prlm* wraP- a packaging film made men of North America said the union has Freres fer. A Co. is dealer-manager for the of'ubcyt.Goodyear, and Resinite, a Borden prod- been concerned for some time about possi ble dangers connected with wrappers and For the Individual shareholder, the new In. Akron, a Goodyear spokesman satd. has discussed PVC products with several Newmont offer is substantially higher than Although we haven't been presented with a*manufacturers, the merger proposal it announced in Febru copy of the complaint, we are prepared to| Robert Vandervort an administrator for ary 1873 and withdrew in May 1973. That bid vigorously defend suits of this type." A Bor-the National Institute for Occupational ji called for the Issuance of !9& face amount of den official also indicated the company Safety and Health, said institute studies Newmont subordinated convertible deben tures for each 10 shares of Foote common and >100 principal amount of the debentures for each five shares of the preferred. The nominal cost to Newmont In both of hadn't received a copy of the complaint, and said public statements by Mrs. Schultz's at torney that there is a medically proved link between use of the wraps and physical in jury are "without foundation." have linked use of the film to minor upper;] i respiratory ailments, but that a conncctionii J hasn't yet been established between thejj wrap and more serious respiraiory injury ori _ other major illnesses. jF ' fers. however, works out to be roughly The federal government this spring im Mr. Vandervort also indicated that PVC-i > equivalent. Late last year, Foote repur posed strict regulations on exposure to vi- represents only a small proportion of fumes'; - ehased and canceled 803.349, or about eV^.jnvl-chloride fumes in plants making PVC, a given off when the wrap is cut. and that i' 1 :te of Its >2.20 cumulative convertible preferred!30^ plastic with many industrial and con- much of the gas is a plasticizer, Dl-2-cthyl,i at a cost of about >18 million. U all the i sumer applications, after exposure to the hexyl adipate. He said that studies haven't shares are tendered, the new offer will totals*3 was linked to liver cancer among work- pinpointed what chemical causes injuries, * ; electric een about >37.5 million in cash, plus commis sions to brokers. The old offer amounted to ers at certain plants. The supermarket meat but that "probably both" arc deleterious. wraps ore made from a PVC resin. The institute is preparing recommenda ----i J137.9 million In debentures. The suit alleges that "as a direct result tion on use of the wrap, he said. Mer* gkceir Insnn't Pi luavnmneindi j n* ^1 Consumers Power Saysit's likely you When Newmont called off the mergerjT/^T. tyfn j n ft ft']-' S/J/WC professional \ for meeting pro>ppoossaal last year, It cited "unfavorable! F XjULI stock market conditions." Both shares sad the Newmont stock, the into Foote I which! TI<'l ti 1 />i* (YpilCAf J Reliefties present* the debentures could have been ciMivmcdJ.*-^* * *' 3 yut company's hnad declined iIn price. The latest cish offer T .. yia 93% Rate Risetor. w-i-^po-ibutty01 duuuo.xW-| ~, ^ ^. State Panel Staff I 'rges; $27.6 Million Rate Rise vUto fctputa- Jack E. Thompson. Newmont'* pr<*l-i tr office, con* dent, said the new offer reflects Ncwmor.iV Bit a W*i.i, street r JACKSON. Mich.--Consumer-! l'iuvr Ci. Consider, lor continuing interest in Foote and desire u` r,` ' "am. struct Joluxmi. sin if Reporter said the staff of the Michigan FiiMa- S,u vioe ed CtectfoleL ds or retracts allhatouch of gain control. Hu said Ncwnmr.t ;>lan.t to Like} KICHMOND-Virginiu Klectric & rower Commission has rccommendi-l that the a more active rolo in Foote nunigmuentlCo. rui.l it .implied to the Virginia State Cor-| cmV|mny roceive an Immudini 'k-i-inu-r.it-' and incrrnic Its representation on Ihej \wr.umn Commission l"r a Umponvvy ^ 0 million unniMlIy. half 'board, but neither a merger nor ar.y n;.i-igMu-y ialo lv>st of 5127,3 mUhun.annually, Color Magic* |;iVernent cbJ.nTCJi. ,r'-------....................................... '"*~ i