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An investment group will make an offer for Heck's.

July 31, 1986

Heck's Chairman Russell Isaacs said he is willing to talk to the New York group, which already owns 8.5% of the discount retailer's stock. The group disclosed its intentions in a filing with the Securities and Exchange Commission. If a friendly takeover can't be worked out, the group said, it will pursue other options, such as a tender offer or seeking representation on the board. Heck's operates about 170 stores in nine states. The firm's stock closed up $1.75 a share at $14.75 in trading Wednesday on the NYSE. At that price, a takeover would cost about $131 million.

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