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Article: Carson's makes a tender offer for Younker's. (Carson Pirie Scott and Co.)
- Article from:
- WWD
- Article date:
- January 6, 1995
- Author:
CopyrightCOPYRIGHT 1995 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Carson Pirie Scott & Co. launched a $17 cash tender offer Thursday for all of the outstanding common stock of Younker's Inc., which analysts said was likely too small to get the deal done, but could spark talks.
Last October, Carson's tried to buy the Des Moines, Iowa-based chain at the same price and was swiftly rejected by the board.
In addition, Carson's has nominated three directors to replace the Younkers directors who are up for re-election at the annual meeting May 17.
Financial analysts said the moves could pressure Younkers' board to come to the negotiating table.
In another development, Carson's said Thursday it has agreed ...