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BRIEFLY

November 04, 1987

Flexi-Van, spun off last August in a rights offering to Castle & Cooke shareholders, announced that one of its wholly-owned subsidiaries will offer $27 each for at least 2 million of Flexi-Van's 7,450,000 shares outstanding. Los Angeles financier David Murdock, who has increased his Flexi-Van stake since the stock market crash, said he would not tender his 23% Flexi-Van interest. His interest would rise to about 31% if public shareholders tender 2 million shares under the offer, which is to begin within five working days. Murdock recently raised his stake in Castle & Cooke to 25.3%.

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