OTHER NEWS - April 13, 1993

Hospital Supplier Agrees to Invest in Israel: Baxter International Inc. said it will invest at least $20 million to settle lawsuits brought by shareholders over the hospital supply company’s efforts to be removed from an Arab boycott list. Baxter agreed last month to pay $6.5 million in fines and pleaded guilty to sharing business information with the Arab League in an attempt to remove itself from the list. It had been boycotted because it built a plant near Ashdod, Israel. A 1977 statute prohibits cooperating with the Arab boycott of U.S. businesses with ties to Israel. A Baxter lawyer said the company believed that it was acting legally.