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Hutton said it won't resume talks with Shearson.

November 12, 1986

In a speech broadcast to E. F. Hutton employees Monday and made available to reporters Tuesday, new Chief Executive Robert Rittereiser took exception to published reports that Shearson Lehman Bros. is waiting in the wings for Hutton to end its opposition to a proposed merger and return to the bargaining table. "The talks with Shearson Lehman will not resume," he said. Rittereiser succeeded Robert Fomon as Hutton's chief executive after a two-day board meeting last week, which was capped by a Shearson offer of $50 a share for Hutton. The talks collapsed after Hutton rejected the offer and asked for $55 a share and an expanded role in the merged company for Hutton's key executives.

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