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BRIEFLY

A shareholders group increased its offer for Taft.

May 01, 1987

The group seeking to buy Taft Broadcasting increased by $2 a share its $1.4-billion offer for the Ohio-based television station operator and program producer. Three members of the shareholders group, Taft vice chairman Dudley S. Taft, Texas investor Robert M. Bass and an American Financial Corp. subsidiary controlled by Carl H. Lindner, had been rivals for Taft but joined forces in April. Together, the group owns about 42% of Taft's 9.2 million common shares. Taft said in a statement that the group was offering Taft shareholders the option of receiving $157 a share in cash or $144 a share in cash plus one common share of FMI Financial Corp., a subsidiary of American Financial. The group had previously offered $155 a share in cash and FMI stock.

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