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May 16, 1997

Dutch-British investment bank SBC Warburg will buy Dillon Read & Co. for $600 million, the latest sign of consolidation in the securities industry. . . . Kmart reported a first-quarter profit of $14 million, or 3 cents a share, up from a loss of $99 million, or 21 cents, a year earlier. . . . Staples Inc. reported first-quarter profit of $8.4 million, or 5 cents per share, down from $13 million, or 8 cents, a year ago. . . . Bre-X Minerals Ltd. said it will end operations in Indonesia in June.

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