ABC Stock Trading Analyzed
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NEW YORK — The New York Stock Exchange said today it is conducting a routine analysis of trading in the stock of American Broadcasting Cos. Inc. and other media companies because the price and volume of those stocks advanced so dramatically last week. ABC announced last Monday that it would merge with Capital Cities Communications Inc. in a $3.5 billion deal.
“When that analysis is completed, we determine whether an investigation is warranted,” said Richard Torrenzano, vice president of the exchange. Such procedures are used to look for indications that investors might have profited unfairly and illegally from advance knowledge about company developments.
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