Upping the Ante Cbs Tops TheTurner offer

Turner offer

Throughout his three-month effort to take over CBS, Ted Turner, the owner of Cable News Network, has projected himself as a modern David battling a broadcasting Goliath. Now it appears that Turner will need more than one well- aimed rock to bring down CBS. Last week the company hurled back a tough rejoinder, offering to buy 21% of its stock for $955 million, or $150 a share. Speaking to stock analysts in a Manhattan studio where the soap opera As the World Turns used to be filmed, CBS Chairman Thomas Wyman announced that the company will give stockholders $40 a share...

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