Shearson Lehman Bros. has revised some of...

Shearson Lehman Bros. has revised some of the terms of its planned $1-billion acquisition of ailing E. F. Hutton Group, which will create the nation’s largest investment firm. Under the new terms, Shearson will purchase 29.6 million shares of Hutton common stock at $29.25 a share, up from 28.1 million shares under the original plan, and Shearson’s tender offer for Hutton shares will be extended to Jan. 12 from Jan. 5.