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GENERAL ELECTRIC EXCHANGES 36% STAKE IN INDUSTRIAL NETWORKING FOR UNGERMANN-BASS SHARES

Ungermann-Bass Inc and General Electric Co have completed the arrangement under which GE has exchanged its 36% stake in Industrial Networking Inc for 640,000 shares in Ungermann-Bass and a four-year warrant to buy an additional 650,000 shares at $13 per share: the shares, plus the warrants if exercised, would give GE 7% of Ungermann-Bass but Ungermann is likely to succumb to the bid from Digital Communications Associates Inc.

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CBR Staff Writer

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