Business mergers and acquisitions will be the focal points of a program featuring guest speaker Quentin Wood, chairman of the Board of the Quaker State Corporation.

The program, sponsored by Phi Gamma Nu business fraternity, will be held at 7 tonight in the HUB Fishbowl.

"(Wood) will talk about what makes a company threatened by leverage buyouts," said Kelly Hackett, vice president of professional affairs. "Basically, there's been a lot of activity in the business market," she said, explaining that in recent years large companies have ventured to take control of other large companies as well as smaller ones.

"It's a huge restructuring," Hackett said, adding that thousands of dollars are spent on company mergers and acquisitions.

Wood, a 1948 alumnus of the University, said he will discuss the "takeover environment" and the effects hostile or friendly takeovers have on businesses. Wood will weigh the pros and cons of mergers and will answer questions following the speech.

"I don't think I'll be speaking about any personal experiences," Wood said, adding, "Our official position relative to our company is one of silence."

The event is open to the public, Hackett said. Invitations were sent to other business fraternities and organizations and professors of the School of Business, she added.

"I am a graduate of Penn State. I always look forward to returning to the campus," Wood said, adding that he is eager to speak to business students.