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BRIEFLY

February 16, 1988

Belgium's largest insurer raised its offer for rival insurer Assubel-Vie SA by 20% to 7,200 francs, or about $205.71 per share. Groupe AG announced the new bid, its second for Belgium's third-largest insurer, to offset a counteroffer for the firm by a group of investors backed by Assubel-Vie. The new bid, which values Assubel-Vie at almost 9 billion francs, or about $257 million, will be launched today and run through the end of the month, Groupe AG said. However, Assubel-Vie indicated that it would resist Groupe AG, even though the group supported by Assubel-Vie is offering only 6,000 francs, or $171 per share.

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