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ADT wins US court battle

attempt by Western Resources Inc. to push up the date of a shareholders meeting Western hopes would advance its takeover bid.

Western, a Topeka, Kansas-based power company, has bid $3.5 billion for the portion of ADT it doesn't own. ADT is the largest provider of security services in the US, and Western now owns about 27 percent of it.

Western had sought to stop the shareholders meeting that Bermuda-based ADT has scheduled for July 8, pushing instead for an earlier date. ADT argued that Western hadn't complied with state and federal court rules and said that the court agreed with it.

Western is seeking to replace ADT's board with its own.

Last year ADT agreed to a friendly $4 billion takeover by Fort Lauderdale, Florida-based Republic Industries Inc. Republic dropped its offer after Western, ADT's largest shareholder, indicated that it might oppose the bid.

Western earlier this month won the first hostile takeover in the US electric power industry. It will acquire a neighbouring utility, Kansas City Power & Light Co., for $2.7 billion in stock and assumed debt.

ADT shares rose 1/8 to 21 3/4 yesterday, while Western Resources shares rose 1/2 to 31 1/4.

BUSINESS BUC