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November 28, 1989 | From Associated Press
Deutsche Bank, West Germany's largest bank, on Monday emerged as a white knight for Morgan Grenfell Group PLC with a $1.48-billion takeover offer designed to stave off a hostile bid by Banque Indosuez of France. Analysts said the $8.56-a-share cash offer, which has the full backing of Morgan Grenfell's board, represented a premium over what the investment bank's stock was recently trading. Morgan Grenfell closed at $7.
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BUSINESS
November 28, 1989 | From Associated Press
Deutsche Bank, West Germany's largest bank, on Monday emerged as a white knight for Morgan Grenfell Group PLC with a $1.48-billion takeover offer designed to stave off a hostile bid by Banque Indosuez of France. Analysts said the $8.56-a-share cash offer, which has the full backing of Morgan Grenfell's board, represented a premium over what the investment bank's stock was recently trading. Morgan Grenfell closed at $7.
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