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BRIEFLY

February 15, 1988

Black & Decker said it has arranged $2.2 billion in financing through a group of commercial banks for its hostile takeover bid for American Standard Inc. The syndicate is composed of 19 domestic and foreign banks, including Chase Manhattan Bank, which earlier pledged $750 million of its own funds toward the deal, the company said. American Standard has vowed to fight the Towson, Md.-based firm's $65-per-share bid. The New York maker of plumbing, heating and air conditioning equipment has urged its shareholders to reject the offer and has adopted an anti-takeover plan.

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