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April 28, 1993|From Times Staff and Wire Reports

Prudential Rejects Increased Offer: Prudential Securities rejected an increased tender offer by Oklahoma oil man George B. Kaiser for limited partnership interests in Prudential's Energy Income Funds series of oil and gas partnerships. The partnerships are the subject of an intense legal battle between Prudential and about 130,000 customers who bought the interests. Kaiser's GBK Acquisition Corp. earlier this month boosted its bid for 30 of the individual partnerships to $283 million from $173 million. Prudential said the increased offer is still inadequate, and said it is continuing to consider secret bids from other firms.

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