LSB <LSB> IN PACT TO ACQUIRE NORTHWEST FEDERAL
LSB Industries Inc said it
entered into an agreement to acquire Northwest Federal Savings
and Loan Association of Woodward, Oklahoma.
    Upon completion of the acquisition, LSB would pay about 1.5
mln dlrs to the shareholders of Northwest and transfer to
Northwest Federal certain assets having a net current appraised
value of not less than 30 mln dlrs.
    At completion of this transaction, Northwest Federal would
be a subsidiary of LSB's non-consolidated wholly-owned
financial subsidiary.
    The acquisition is subject to obtaining approvals, waivers
and forbearances from the Federal Home Loan Bank Board and
other government approvals.
 Reuter
