Business and Finance
AT&T LAUNCHED a $90-a-share, $6.12 billion hostile cash tender offer for NCR after the computer company rejected the phone concern's proposal for a stock swap at the same price. NCR said it would agree to merger talks only if AT&T offered $125 a share and promised not to make a hostile bid for three years.</br></br>Oil prices plunged and stocks rallied amid increased hope of a peaceful resolution of the Persian Gulf crisis. Crude for January delivery dropped $3.37 to $27.29 a barrel. The Dow Jones industrials shot up 30.70 points to 2610.40 in heavy trading.</br></br>---</br></br>Bank stocks surged on expectations of lower interest rates and more lenient treatment by regulators. Even stocks of troubled banks did well. Bank bonds also rose.</br></br>---