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New Bids for Manischewitz Reported: A bid to take over B...

June 07, 1989

New Bids for Manischewitz Reported: A bid to take over B. Manischewitz Co., one of the nation's best-known makers of kosher food and wine, hit a roadblock when two higher offers emerged just before a company-imposed deadline. Manischewitz declined to disclose the value of the new offers but said both were higher than the $40-million bid put forward earlier by Levine, Tessler, Leichtman & Co. The 101-year-old company, based in Jersey City, N.J., signed a merger agreement March 14 with Levine Tessler, a Los Angeles-based investment firm, and would have to pay a $1.7-million fee if the deal failed to go through. Manischewitz said the new offers came from National Foods Inc. and Berisford Capital Corp., which is acting with Santa Monica Partners, New York investor J. Morton Davis and other individuals.

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