TELEX &lt;TC> ADOPTS SHAREHOLDER RIGHTS PLAN
  Telex Corp said its board adopted a
  shareholder rights plan which will allow shareholders to
  purchase one common share for two dlrs if a hostile group
  acquires 15 pct or more of the company.
      However, the company said the plan will not be triggered by
  purchases pursuant to the 65 dlrs a share tender offer
  commenced on October 9 by a unit of TLX Partners, a group
  controlled by New York financier Asher Edelman.
      It said the rights will be distributed on a one for one
  basis to all shareholders as of October 30 and may be redeemed
  before they become exercisable at five cents per right.
      The company said the rights will expire on the later of
  February 17 next year or 60 days from the date they become
  exercisable. It said the plan was intended to protect
  stockholders against any attempt to take unfair advantage of
  the recent decline in stock prices or to use abusive tactics
  such as market accumulations which would interfere with its
  ability to maximize stockholder value.
      The rights become exercisable if any person or group
  acquires 15 pct or more of the company's common stock other
  than through an all cash tender offer for all outstanding
  shares at 65 dlrs per share.
       It said the rights will also not become exercisable if the
  company is acquired by a group under an agreement made with its
  board.
       A spokeswoman told Reuters the company would have an
  official response to Edelman's bid by Friday, Oct 23.          
  

