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Kenner Accepts Tonka Offer

September 04, 1987|From Reuters

BEVERLY, Mass. — Kenner Parker Toys Inc. said today that its board accepted a $591-million offer from fellow toy maker Tonka Corp., apparently rescuing it from a $545-million hostile takeover bid from New World Entertainment Ltd., a Los Angeles-based television and movie producer that also owns the rights to several famous comic book characters.

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