	shandwick buys los angeles pr company public relations consultancy shandwick plc said it had agreed to buy the los angeles based rogers and cowan inc which specialises in the entertainment industry a total of mln dlrs is payable on completion mln will be injected into the business through an interest free loan and the expenses of the uisition amount to stg shandwick said it would raise mln stg through the placing of mln shares to finance the deal with the balance of mln stg used to strengthen the balance sheet and in anticipation of future performance related payments in the year to end september rogers operating income was more than mln dlrs after the uisition shandwick s u s operating income will be comparable to that it earns in the u k rogers estimated that pretax profit in the year to end would exceed dlrs an extraordinary loss of dlrs in resulted from the write off of assets net tangible assets at end september were dlrs shandwick shares were unchanged at p reuter 
