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Article: Carson mulls latest offer // Wieboldt group questions linger
- Article from:
- Chicago Sun-Times
- Article date:
- April 16, 1986
- Author:
CopyrightCopyright (null) Chicago Sun-Times. (Hide copyright information)
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Carson Pirie Scott & Co. said yesterday its directors will
consider "in due course" a third takeover offer by a group
representing Wieboldt Stores.
Monday's $470 million bid includes the purchase of Carson's
"poison pill" stock rights, which allow shareholders to buy preferred
stock valued at $160 for just $80 in case of a takeover. Carson's
said it adopted the measure to ward off the group's first bid, along
with other "bust-up, bootstrap" takeover attempts.
Carson's stock soared $3.25 to $35.75 yesterday, with more than
700,000 shares changing hands.
The third offer was delivered to Carson's on behalf of a
separate investment group formed by the Baytree Investors firm run by ...