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May 10, 2000|Bloomberg News

Corporate raider Carl Icahn is apparently eyeing troubled J.C. Penney Co. Icahn received U.S. Federal Trade Commission antitrust approval to buy a stake of at least $15 million in Penney, a recent FTC filing said. Penney said Icahn hasn't been in contact with it. The stock fell 75 cents to $18.06 on Tuesday. Icahn also received FTC permission to buy a stake in disk drive maker Seagate Technology--which has previously said it's going private. Seagate eased 68 cents to $46.32. . . . Music distributor K-Tel International said it faces delisting from Nasdaq because it no longer meets minimum asset requirements. Shares closed unchanged at $3.69 before the news.

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