| 0 |
WSJ891102-0021
= 891102
891102-0021.
Business Brief -- Ratners Group PLC:
@ Bid for Another Jeweler
@ Is Raised to $62.1 Million
11/02/89t27
WALL STREET JOURNAL (J)
RATNY WEIS
TENDER OFFERS, MERGERS, ACQUISITIONS (TNM)
| 1 |
Ratners Group PLC
, a fast-growing, acquisition-minded
London
-based jeweler,
raisede1
its price for
Seattle
-based specialty jeweler
Weisfield's Inc.
to
$57.50')">$57.50e32
a share, or
$62.1 million
,
froms30
$50')">$50e33
a share, or
$55 million
,
afters2
another concern
saide3
it would be prepared to
outbide7
Ratners
's initial
offere8
.
| 2 |
The other concern was n't identified.
| 3 |
Ratners
's chairman, Gerald Ratner
,
saide11
the deal remains of "substantial
benefite37
to
Ratners
."
| 4 |
In
London
ats13
mid-afternoon yesterdayt28
,
Ratners
's shares were
upe34
2 pence
(
1.26 cents
), at
260 pence
(
$1.64
).
| 5 |
The
sweetenede91
offere14
hase15
acceptancese16
from more than
50%
of
Weisfield's
shareholders, and it is
schedulede17
for
completione18
bys35
Dec. 10t36
.
| 6 |
The
acquisitione19
of 87-store
Weisfield's
raisese38
Ratners
's U.S. presence to
450
stores.
| 7 |
About
30%
of
Ratners
's profit
alreadyt101
is
derivede20
from the
U.S.
| | | | | | | |