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Smith extended its Gearhart tender offer.

March 19, 1985

Pending the final settlement of its unsuccessful attempt to take control of Gearhart Industries Inc. of Fort Worth, Newport Beach-based Smith International continued until April 12 its $31-a-share offer for 3.7 million Gearhart shares. Smith, an oil services company, agreed March 11 to accept $80 million for a block of Gearhart stock that it had bought for about $163 million. Smith will receive the money after the shares are sold back to the public through a securities package due to be released this week.

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