BRIEFCASE DREYER'S APPROVES NESTLE'S MERGER.

Byline: - Staff and Wire Services

GLENDALE - Dreyer's Grand Ice Cream Inc. stockholders voted Thursday to combine Nestle's U.S. frozen dessert business with Dreyer's.

The merger agreement with Nestle Ice Cream Co. LLC and Nestle Holdings Inc. was overwhelmingly approved, with nearly 100 percent of the 26.5 million shares voted in person or by proxy at the meeting in favor.

The parties are still in discussion with the Federal Trade Commission to obtain regulatory clearance for the merger.

Upon completion of the transactions, Nestle will contribute 100 percent of its equity interest of NICC in exchange for 55 million shares of a holding company to be named Dreyer's Grand Ice Cream Holdings Inc.

As a result, Nestle and its affiliates will own about 67 percent of New Dreyer's diluted common stock.

Each share of Dreyer's common stock will be exchanged for a new share of stock of New Dreyer's that will permit its holders to sell some or all of their shares to New Dreyer's for $83 per share during specified periods.

Man resentenced in credit scheme

A Calabasas man who bought personal information online and gave it to credit card fraud rings was resentenced to the same 46-month term ordered two years ago, but must pay an extra $2.5 million in restitution.

Anthony Alizondo, 48, was sentenced by U.S. District Judge Dickran Tevrizian in 2001. But a federal appeals panel ordered him resentenced because of a technical error stemming from a change in the sentencing guidelines, said Assistant U.S. Attorney Susan De Witt.

Tevrizian resentenced Alizondo on Monday and ordered him to pay nearly $6.4 million in restitution, about $2.5 million more than the first time.

Disney recalling 'Toy Story' Woody

WASHINGTON - Walt Disney Parks and Resorts is recalling about 40,000 Woody dolls with buttons that can detach, posing a choking hazard to young children.

The company has received one report of a child removing a button from the doll, made popular in the ``Toy Story'' movies. No injuries have been reported, the Consumer Product Safety Commission said Thursday.

Consumers can contact the company at [phone] to receive a full refund.

War anxiety kept economy gasping

NEW YORK - Consumer apprehension leading up to the war in Iraq sent a gauge of future U.S. economic activity lower in February, the first decline in four months.

The Conference Board said Thursday that its Index of Leading Economic Indicators dropped 0.4 percent in February to 111.1.

The negative outlook forecast by the New York-based group followed a disappointing report from the Labor Department, which said unemployment-benefit claims remained at a worrisome level.

Despite the economic data, investors remained hopeful that the U.S.-led war with Iraq would be quick and successful.