Taiwan-based Acer computers announced Monday it will buy U.S. company Gateway Computers for $710 million U.S., doubling its presence in the United States and becoming the third-largest PC maker in the world.

Acer said the merger would create a multibranded PC company with more than $15 billion in revenue and at least 20 million PC units shipped each year.

"This will be an excellent addition to Acer's already strong positions in Europe and Asia," J.T. Wang, Acer's chairman, said in a statement. "Upon acquiring Gateway, we will further solidify our position as No. 3 PC vendor globally."

In the second quarter, Acer was the world's fourth-largest PC maker behind U.S.-based Hewlett-Packard, No. 2 Dell, and third-ranked Lenovo Group Ltd. of China, according to research company Gartner Inc.

Gateway, based in Irvine, Calif., had the third-largest share of the PC market in the United States, but was well behind Dell and Hewlett-Packard.

Under terms of the agreement, Acer will purchase all outstanding shares of Gateway for $1.90 a share — 57 per cent above Gateway's Friday closing price of $1.21. In 1999, Gateway traded at a high of $81.50.

The court's decision means that Prairie State's advanced technologies will meet or exceed compliance with state and federal regulations to protect the environment. The decision ends a six-year regulatory review process that included approval by the Illinois Environmental Protection Agency and the U.S. Environmental Protection Agency.

Prairie State will provide electricity to hundreds of communities from Missouri to Virginia. Equity partners include: American Municipal Power- Ohio; the Illinois Municipal Electric Agency; Indiana Municipal Power Agency; Kentucky Municipal Power Agency; Missouri Joint Municipal Electric Utility Commission; Northern Illinois Municipal Power Agency; and Prairie Power Inc.

St. Louis-based Peabody Energy (NYSE: BTU) is one of the world's largest coal producers.

BRITISH Airways could be forced to pay out hundreds of millions of pounds to settle a class action lawsuit relating to cargo price-fixing, it emerged yesterday.

Several European blue-chip companies, including Ikea, Volvo and TNT, are said to have joined the lawsuit and noted that BA has set aside £350 million to pay fines.

The airline has already paid out $300m (£174m) levied by the US department of justice (DoJ). Two thirds was related to cargo price-fixing and $100m concerned price-fixing related to passengers.

According to documents filed to a US district court, the class action suit concerns shipments valued at $29 billion. Ten present and former BA executives, including the current director of operations, have not received protection from prosecution under a plea agreement between the airline and US prosecutors investigating the price-fixing conspiracy.

BA said four of the ten still worked for the airline.

Three weeks ago, Willie Walsh, BA's chief executive, assured customers and the media that only a "very limited number of individuals" were involved in the two illegal cartels through which BA had fixed the fuel surcharges.

Yet papers released by the DoJ have confirmed that the corruption inquiry into BA went beyond Martin George, its former commercial director, and Iain Burns, its former head of communications, the only two named in the press before this weekend.

The DoJ said it was "carving out" ten current and former senior BA executives from an immunity deal that will settle BA's criminal liability in the US. The individuals, who have yet to be charged, could face criminal prosecution and, ultimately, jail.

Plaintiffs in the case had sued the company on behalf of Illinois residents who bought light cigarettes since the introduction of Marlboro Lights in 1971.

The lower court had found in favor of the plaintiffs and awarded them $10.1 billion in damages, but the decision was overturned by the state Supreme Court, which also directed the lower court to dismiss the action last year.

In May this year, however, after the U.S. Supreme Court took up another case against Philip Morris, the circuit court of Madison County asked whether it had jurisdiction to consider the plaintiff's request to set aside the Illinois Supreme Court's judgment in light of new developments.

But on Wednesday, the state Supreme Court denied the request and directed the lower court to enter an order dismissing the plaintiffs' motion.

Two Illinois Supreme Court justices, however, dissented.

"The court's action today is entirely predictable because it quickly and quietly closes the book on a case that a majority of this court, I am sure, would rather forget," Justice Charles Freeman wrote in his dissent.

The Legislature this spring passed the law, allowing casinos in four "zones" -- Wyandotte County, Ford County, either Sedgwick or Sumner counties and either Crawford or Cherokee counties. The bill also would allow slot machines at dog tracks in Wichita and Kansas City, Kan.

But Sedgwick County this month rejected ballot initiatives on both the casino and slot machine questions. A casino is expected to be built in Sumner County.

Morrison's lawsuit, meanwhile, will center on the definition of a "state owned and operated lottery," which is allowed under the Kansas Constitution. Questions exist about whether casinos under the new state law actually will be operated by the state.

Campos, 58, a Harlingen native and former Houston radio executive, will become partner-in-chief of the firm's Washington office.

Campos, who has served on the commission for five years, announced Aug. 9 he would return to the private sector.

Before joining the SEC, he was one of two principal owner/executives of El Dorado Communications, a Houston-based radio broadcasting company.

In his new job, Campos will represent companies in SEC enforcement matters and internal investigations, advise corporate boards about governance issues, and counsel private equity, hedge and mutual funds on regulatory matters.

"I look forward to advising companies on important issues related to SEC guidelines and corporate governance that will benefit the companies themselves, as well as continue to bolster investor confidence," Campos said in a prepared statement.