LSB <LSB> IN PACT TO ACQUIRE NORTHWEST FEDERAL LSB Industries Inc said it entered into an agreement to acquire Northwest Federal Savings and Loan Association of Woodward, Oklahoma. Upon completion of the acquisition, LSB would pay about 1.5 mln dlrs to the shareholders of Northwest and transfer to Northwest Federal certain assets having a net current appraised value of not less than 30 mln dlrs. At completion of this transaction, Northwest Federal would be a subsidiary of LSB's non-consolidated wholly-owned financial subsidiary. The acquisition is subject to obtaining approvals, waivers and forbearances from the Federal Home Loan Bank Board and other government approvals.