VIACOM <VIA> RECEIVES TWO REVISED OFFERS

<Miller Tabak Hirsch and Co> said it
has received an accepted 3,424,729 common shares of Penn
Traffic Co in response to its 31.60 dlr per share tender offer
that expired Friday, and together with the 380,728 shares it
already owned, it now has about 91.8 pct of Penn Traffic.
    The company said Penn Traffic is expected to hold a special
shareholders' meeting later this month to approve a merger into
Miller Tabak at the tender price.
    It said two Miller Tabak representatives will be named to
the Penn Traffic board on March Four to serve as the only
directors with Penn Traffic president and chief executive
officer Guido Malacarne.
    The company said it received financing for the transaction
from First National Bank of Minneapolis and Salomon Inc <SB>.
 Reuter

MILLER TABAK HAS 91.8 PCT OF PENN TRAFFIC <PNF>

Pittston Co said it has
tentatively agreed to acquire WTC International N.V. in a
tax-free exchange of stock.
    Pittston said it agreed to exchange 0.523 common share for
each of the about 8,612,000 WTC common shares outstanding.
    Pittston said WTC's three principal shareholders, who own
62 pct of its stock, are parties to this agreement. They have
granted Pittston the right of first refusal to their shares.
    WTC has granted Pittston an option to buy WTC shares equal
to 18.5 poct of its outstanding stock. The agreement is subject
to approval of both boards and WTC shareholders.
    Pittston said described WTC as a fast growing air freight
forwarding company with operations throughout the world. Its
revenues totaled nearly 200 mln dlrs in the year ended November
30 and for the quarter ended on that date it earned 1.3 mln
dlrs on revenues of 55.8 mln dlrs.
    Pittston said its Burlington Air Express subsidiary
generates about two-thirds of its 450 mln dlrs in annual
revenes with its domestic air freight services.
 Reuter

PITTSTON <PCO> AGREES TO ACQUIRE WTC <WAF>

Diagnostic Retrieval Systems Inc
said it has made an offer to acquire, through a wholly owned
unit, all outstanding shares of Rospatch Corp's common stock
for 22 dlrs a share cash, or about 53 mln dlrs.
    DRS, a warfare systems producer, said it would make the
transaction through a cash tender offer for all, but not less
than 51 pct, of Rospatch's outstanding common stock followed by
a merger with Rospatch, a labels, high technology and wood
producer, at the same purchase price per share.
    DRS said the deal is subject to approval by the Rospatch
board, and the tender offer expires on March 6, 1986.
 Reuter