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BRIEFLY

February 02, 1988

Martell et Cie said its board unanimously approved a sweetened bid by Seagram Co. for control of the cognac maker, dealing a defeat to Grand Metropolitan PLC, the second suitor for Martell. The French company said in a statement that it is recommending to shareholders that they accept the Canadian firm's latest offer, which values Martell at about $930 million (5.3 billion francs).

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