CNW Corp. and the New York investment...

CNW Corp. and the New York investment firm Gibbons, Green, van Amerongen have canceled a $578-million leveraged buyout of the Chicago-based transportation and manufacturing firm because of legal questions, the company announced . . . Pan American World Airways and the Pan Am chapter of the Air Line Pilots Assn. ratified a three-year union contract that provides for pay cuts and a plan the company said would raise productivity . . . An SEC filing disclosed that Mark IV Industries Inc., based in West Amherst, N.Y., plans to acquire Cetec Corp., a communications equipment maker based in El Monte, at $11 a common share . . . Argus Energy Corp. of Stamford, Conn., boosted its stake in Santa Monica-based Tosco Corp. to 42.83%, according to a filing with the SEC . . . Phelps Dodge Corp., the largest producer of copper in the country, hopes to raise $179.4 million through the sale of securities to help finance its recent acquisition of Accuride Corp., according to another SEC filing.