LOMAS <LNK> SHAREHOLDERS APPROVE ACQUISITION
Lomas and Nettleton Financial Corp said
its shareholders approved at a special meeting the company's
acquisition of Equitable Life Leasing Corp for 263.3 mln dlrs.
    Equitable Life Leasing Corp is a subsidiary of Equitable
Investment Corp, which is owned by the Equitable Life Assurance
Co of U.S.
    Lomas said the acquistion price will consist of one mln in
cash, 1.5 mln shares of the company's common stock, 71,000
shares of a new series C preferred stock, and 8.944 mln dlrs
principal amount of nine pct senior notes due 1994.
    The company added that the acquisition will close June 30.
 Reuter
