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Varlen Corp

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BUSINESS
May 19, 1999
* Amsted Industries Inc., the world's largest maker of train wheels, said it is making a hostile offer of $700 million in cash and assumed debt for rail parts maker Varlen Corp., which spurned Amsted's overtures. Amsted plans to start a tender offer of $35 a share for Varlen, the biggest maker of buffers that separate train cars. The bid by Chicago-based Amsted includes assuming $94.9 million in debt and is 35% more than Varlen's Monday close. Varlen rose $10 to close at $35.
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BUSINESS
August 2, 1999
Chicago-based Amsted Industries Inc., the world's biggest maker of train wheels, has agreed to buy Varlen Corp. for $740 million in cash, after boosting its bid.
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