MANUFACTURING

Teledyne Still Mulling WHX Offer: In a letter to shareholders, Teledyne Inc. said it is evaluating WHX Corp.’s offer of $1.7 billion in cash and stock for the Los Angeles-based conglomerate. But Teledyne chided New York-based WHX, parent of Wheeling-Pittsburgh Steel, for launching the bid just as Teledyne was preparing a $400-million public debt offering. That offering is now on hold because of WHX’s proposal, and “this delay may prove very costly to the company,” Teledyne asserted. WHX declined to comment on Teledyne’s complaint but said it remained ready to “negotiate any and all terms” of its offer. Teledyne makes a wide range of products for consumers, industry and the military.