THE BATTALION Page 11
WEDNESDAY, DECEMBER 9, 1981
Judge’s ruling looks
good for U.S. Steel
the U.S
''ador.
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and on
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United Press International
COLUMBUS, Ohio —A feder
al judges ruling may allow U.S.
Steel to take control of Marathon
Oil next Monday, apparently de
feating Mobil Oil in a bitterly
opposed takeover bid.
In U.S. District Court Mon
day, Judge Joseph P. Kinneary
dissolved a temporary restraining
order that blocked the nation’s
largest steelmaker from acquiring
Marathon, the country’s 16th
largest oil company, based in
Findlay, Ohio.
Rival bidder Mobil is still ban
ned from buying Marathon shares
by an antitrust injunction in
Cleveland.
Under the ruling, U.S. Steel
must wait five business days be
fore going ahead with its $6.3 bil
lion purchase of Marathon shares.
By next Monday, however, U.S.
Steel may well have acquired
effective control of Marathon.
The steelmaking giant
announced in Pittsburgh Sunday
the successful completion of its
tender offer to buy 30 million
shares, or 51 percent, of Marathon
for $125 a share.
Mobil, which has offered $6.5
billion for Marathon shares, con
tends the U.S. Steel and
Marathon agreement violates
state and federal law.
Ohio officials had feared a
takeover by Mobil would result in
Marathon’s corporate offices leav
ing the state. U.S. Steel has said it
would keep Marathon based in
Ohio.
“We are delighted that Judge
Kinneary ruled in our favor,” a
spokesman for Marathon said.
“We believe U.S. Steel’s offer is in
the best interest of our customers,
employees and shareholders.”
Kinneary had issued a tempor
ary restraining order against U.S.
Steel to consider Mobil’s argu
ments that Marathon and U.S.
Steel had arranged “a sweetheart
deal” to derail Mobil’s merger
plans.
However, Kinneary ruled Mon
day: “The record supports the de
fendants’ view that the Marathon
directors desired to enter into a
negotiated transaction which
would result in a fairer return to
Marathon stockholders.”
To circumvent its own antitrust
obstacles, Mobil said Monday it
would sell to Amerada Hess Corp.
all marketing, refining and trans
portation properties of Marathon
if it succeeded in its bid to acquire
Marathon.
Mobil also argued that U.S.
Steel s acquisition of Marathon’s
lucrative Yates oil field in Texas for
$2.8 billion was aimed at blocking
Mobil’s bid.
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United Press International
: WASHINGTON — Scientists
say the second space shuttle flight
was a success scientifically — de
spite the fact it was cut short by
ruba.Tlie| r ^ d ays- , , , ,
ilia withil The Columbia gathered almost
H the Earth-watching informa-
ipn anticipated for the planned
ppedfor, five_cl a y mission, scientists said
s HopaE'Tuesday.
le easteii The ship’s $11.6 million assem-
leforebi |ly 0 f scientific experiments, in-
Airport eluding a 30-foot radar antenna,
HonduriiBas designed to prove that the
| Guatci: shuttle can serve as a stable instru-
here it lament platform for Earth resources
pbservations.
The only big disappointment
> an attempt to photograph
lightning in storms far below to
ie if space observations can be
used to provide an early warning
of severe weather situations.
“I’m not sure we have very
S01U much (on storm detections),’’ Dr.
ernard Vonnegut of the State
niversity of New York at Albany
id, adding that the limited
i ? lamount of data obtained by astro-
Inauts Joe Engle and Richard Truly
was of low quality.
The experimental radar system,
(which the space agency said was
he first side-looking system flown
in space, obtained eight hours of
radar pictures over North and
South America, Africa, Europe
and Asia.
NASA said its ability to pene-
thoritiesi:
unala
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it extremely attractive for mineral
entofth resource exploration.
All of the objectives of this ex-
leriment were met during the
STS-2 flight, despite the shor-
ened mission time,” the agency
said in a summary report. “The
radar equipment worked per
fectly. ”
Another instrument designed
to analyze infrared radiation from
the sun as it is reflected from the
ground also was reported to be
completely successful. NASA said
108 minutes of cloud-free observa
tions were recorded.
Scientists hope to be able to use
such information to determine the
location of iron oxide and clay min
erals to help spot other mineral
deposits.
“While not yet analyzed, ex
tremely good data are believed to
have been acquired over Mexico
and Spain,” the report said.
An ocean color experiment, de
signed to detect chlorophyll pro
duced by algae by looking for
green shades in ocean water, ac
quired 78 minutes of unob
structed information — nearly
twice the minimum mission re
quirement.
Such information is expected
eventually to help locate commer
cial fisheries.
The report said an air pollution
monitoring experiment acquired
32 hours of data, including excel
lent sightings over Virginia, Flor
ida and California. The instru
ment uses a carbon monoxide de
tector to measure the amount of
that pollutant in the atmosphere
below.
The report said an experiment
to test a sensor designed to iden
tify certains types of features ac
quired 32 hours of data, but some
of the information may have been
lost due to marginal performance
of the experiment’s triggering de
vice.
A sunflower seed growth ex
periment was not in orbit long
enough to allow the seeds to grow
in the weightless environment of
orbital flight, the report said.
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