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