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Value City Department Stores Inc

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BUSINESS
July 27, 1999 | From Bloomberg News
Burnham Pacific Properties Inc., the largest strip shopping center real estate investment trust on the West Coast, rejected an unsolicited $1.2-billion buyout offer from retailer and property investor Jay Schottenstein. The rejection comes two weeks after Schottenstein, the chairman and majority owner of Value City Department Stores Inc., raised his bid for the San Diego-based company to $13.50 a share from $13. He also would assume debt.
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BUSINESS
July 14, 1999 | From Bloomberg News
Retailer and property investor Jay Schottenstein on Tuesday raised his unsolicited all-cash bid for Burnham Pacific Properties Inc. to $13.50 a share from $13, valuing the shopping center real estate investment trust at about $1.2 billion. In a letter sent to San Diego-based Burnham, Schottenstein complained that despite repeated requests, the company and its advisors have refused to meet with him about the bid. Schottenstein, the chairman and majority owner of Value City Department Stores Inc.
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