11.   As in any merger negotiations, until the boards approve the deal a transaction could fall apart.

12.   As a practical matter, boards virtually never approve dividends because startups need all available capital to grow.

13.   At its meeting last week, the Duke University board of trustees approved the new institute named in honor of the Alberts.

14.   At the same time, the Nasdaq board approved a suggestion that it change its membership to add members from outside the brokerage industry.

15.   Banco di Napoli SpA said its board has approved a cost-cutting plan that involves selling branches and loans, and reducing personnel.

16.   Before the board can approve the purchase of new textbooks for future years, it first must write new rules for textbook selection.

17.   Board Chairman William Moseley said he expects the board to approve the revised cuts, which spare many of the routes passengers fought to keep.

18.   Board President William W. Godward said the board had approved the appointment without reservation.

19.   Both boards approved the agreement today, and expect the merger to close by year-end or early next year.

20.   Both boards have approved the transaction, the companies said.