REXNORD <REX> TO REDEEM RIGHTS
Rexnord Inc said it will redeem
all of its preferred stock purchase rights for 10 cts a right
effective today.
    Rexnord said the rights will be redeemed because it is
expected its shares will be tendered under a January 30
takeover offer from Banner Acquisition Corp. The rights trade
in tandem with Rexnord's common stock.
 Reuter
