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BRIEFLY

October 03, 1987

GE Credit Corp. has agreed to acquire Gelco Corp. in a friendly deal valued at about $250 million. Gelco, a transportation-leasing firm, which plunged into debt to thwart a hostile takeover by an investment partnership earlier this year, will be purchased by the General Electric subsidiary for $35 per share cash. Their agreement came 10 months after Gelco escaped a takeover attempt by Coniston Partners, a New York investment partnership that had offered $28 a share but indicated it would liquidate the company after the acquisition.

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