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BRIEFLY

October 26, 1987

A group led by Asher B. Edelman has disclosed that it holds an 11.5% stake in Foster Wheeler Corp., a worldwide company that constructs oil refineries, chemical plants and generating stations. Edelman said the management of the Clinton, N.J.-based company has told him in strong language it intends to remain independent and would not meet with him to discuss a possible takeover, as Edelman had requested. Meanwhile, another Edelman target, Telex Inc., filed suit in federal court accusing Edelman of violating federal securities laws in his attempt to acquire the Tulsa, Okla.-based computer maker. Telex also announced it is seeking another buyer.

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