  We study the collision of two slowly rotating, initially non boosted, black
holes in the close limit. A ``punctures'' modification of the Bowen - York
method is used to construct conformally flat initial data appropriate to the
problem. We keep only the lowest nontrivial orders capable of giving rise to
radiation of both gravitational energy and angular momentum. We show that even
with these simplifications an extension to higher orders of the linear
Regge-Wheeler-Zerilli black hole perturbation theory, is required to deal with
the evolution equations of the leading contributing multipoles. This extension
is derived, together with appropriate extensions of the Regge-Wheeler and
Zerilli equations. The data is numerically evolved using these equations, to
obtain the asymptotic gravitational wave forms and amplitudes. Expressions for
the radiated gravitational energy and angular momentum are derived and used
together with the results of the numerical evolution to provide quantitative
expressions for the relative contribution of different terms, and their
significance is analyzed.
