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Article: Sanmark purchasing Movie Star. (Sanmark-Stardust Inc., Movie Star Inc., lingerie industry)
- Article from:
- WWD
- Article date:
- November 18, 1987
CopyrightCOPYRIGHT 1987 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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SANMARK PURCHASING MOVIE STAR
Sanmark-Stardust, Inc., has bought a 64.5 percent stake in Movie Star, Inc., from a major shareholder group for $8 a share, and will begin an $8-a-share tender offer for all remaining shares, both intimate apparel companies announced Tuesday.
The agreement ends takeover negotiations between Movie Star and investor Joseph Eiger.
Under the new agreement with Sanmark-Stardust, 538,545 shares have already been purchased from the family of the founder of Movie Star, the late Milton Herman.
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