Speculating in Takeover Targets Message Board

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Strategies & Market Trends : Speculating in Takeover Targets

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Feb 6 9:30 AM EST

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To: richardred who started this subject	9/15/2003 12:19:17 PM
From: richardred	of 7265

Elder-Beerman Stores (EBSC: news, chart, profile) surged more than 11 percent after the company said late Friday that it has received a $7.80 per share cash offer from privately held Wright Holdings, which tops the offer announced Thursday of $7.25 a share from Bon-Ton Stores (BONT: news, chart, profile). With about 11.5 million shares outstanding, the latest offer is worth about $89.9 million. The retail chain also said it amended a negotiating restriction in its previous accord with Wright so that it now can engage in negotiations with Bon-Ton. In exchange for that leeway, Elder-Beerman increased the potential breakup fee that would be paid to Wright by $500,000. Wright had begun the bidding war for Elder-Beerman in June with a $6 a share offer.

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