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Strategies & Market Trends : PennCorp Financial PFG

PFG 89.38

-0.2%

Dec 26 9:30 AM EST

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To: T. Peirce Baker who wrote ()	11/24/1999 3:26:00 PM
From: JEM	Read Replies (1) of 23

News for anyone still in this one... National Bancshares Offers To Buy PennCorp Finl For $1/Share (PFG) (NewsTraders.com)-- National Bancshares Corporation of Texas has offered to acquired PennCorp Financial Group Inc. (PFG), a New York Stock Exchange-listed company, for $1.00 per share in cash, according to an amended Schedule 13D filed today with the SEC. In a Nov. 23 letter, National Bancshares stated its belief that a sale of PennCorp at this time "would provide the best possible opportunity for...shareholders to realize the maximum value for their shares." National Bancshares, which owns 4.3% of PennCorp's common shares outstanding, hopes to receive a response from PFG no later than Nov. 29, the filing states. Shares of PennCorp, a Dallas-based insurance company, were recently trading unchanged at $0.56. JEM

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