OTHER NEWS - April 27, 1994

Tenneco Offers 35% Stake: The Houston-based conglomerate wants to sell part of its once-troubled Case farm and construction equipment division to the public through a stock offering. Tenneco announced the planned sale as it released its 1994 first-quarter earnings, which rose 12% from a year ago. Tenneco earned $83 million, or 45 cents per share, compared to $74 million, or 46 cents per share, in the 1993 first quarter. The company filed a registration statement with the Securities and Exchange Commission describing the public offering. Under the plan, Tenneco would retain 65% of the new company, which would be named Case Corp. The offering price per share has not yet been determined, it said.