Dow fired a senior executive and a board member last month, accusing the two men of engaging in unauthorized buyout talks.

In recent months, Mr. Liveris has denied that the company has held buyout talks.

In August 2006, the company revealed that it was in buyout talks with an unnamed purchaser.

News that its rivals were involved in possible buyout talks sent Tyco Toys Inc. stock higher, analysts said.

Cassell first denied that he was pushing strongly towards a buyout, but eventually acknowledged his buyout talks with the Clippers.

The Big Board halted trading in MCA twice on reports of troubled buyout talks.

Jeff Fried, who represents Francis, called the report "a false statement" and said that buyout talks "have never even been contemplated."

A key part of the buyout talks is focused on the structure of a so-called airline within an airline.

The hearing itself was apparently brief and quickly became a full-blown negotiation that encompassed the grievance and the buyout talks.

The company produced dozens of films, but mounting debt forced months of buyout talk.