Corning Glass Works stepped out of the...

Corning Glass Works stepped out of the bidding for International Clinical Laboratories Inc., leaving the field to SmithKline Beckman Corp. of Philadelphia. The Corning, N.Y., firm ended a three-week bidding war by agreeing to cancel its merger agreement with International Clinical and sell the shares it already owned to SmithKline, which will pay about $400 million for the company. Corning had offered $360 million for the company. Corning said it agreed to sell 3 million ICL shares it acquired for $26 each under an option agreement, to SmithKline for $37 each.