The Journal Record, October 7th, 1988
NEW YORK (AP) - Coniston Partners proposed Thursday to acquire foods giant TW Services Inc. for $1.13 billion in a friendly deal but held out the possibility of launching a hostile tender offer if the bid is rebuffed. The proposal, which would pay $28 in cash for each of the 39.27 million TW shares Coniston does not already own, had been expected. The aggressive New York investment firm acknowledged two weeks ago that it had amassed a 19 percent stake in TW and might seek to acquire the company, whose operations include the Denny's restaurant chain. TW spokesman James Ryan said the board had...
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