BORG-WARNER <BOR> TELLS OF TALKS WITH JACOBS
Borg-Warner Corp said it has had
discussions with Irwin Jacobs on his interest in the
possibility of Minstar Inc <MNST>, a Jacobs controlled company,
being given access to certain non-public information about
Borg-Warner.
    In late February, an investor group headed by Jacobs
offered 44 dlrs a share, or 3.29 billion dlrs, to take over
Borg-Warner.
    Borg-Warner said it advised Jacobs that before its board
would give Minstar access to company records Minstar would have
to provide satisfactory evidence that sufficient financing was
committed to carry out whatever transaction was proposed.
    A Borg-Warner spokesperson said the discussions with Jacobs
and other Minstar officials focused on terms and conditions
under which the company would consider granting Minstar access
to the information it was seeking.
    The Borg-Warner spokesperson said the company has not been
able to reach an agreement with Minstar, and Borg-Warner has
not granted Minstar access to any records.
    There can be no assurance that there will be further
discussions with Jacobs or that any agreement will be reached,
the company added.
 Reuter
