Norton Tender Results Favor Victory by BTR
From Reuters
BOSTON — Britain’s BTR PLC moved closer to victory Friday in its hostile effort to take over Norton Co., announcing that almost two-thirds of Norton’s stock was tendered under BTR’s $1.64-billion buyout offer.
While there are still a number of obstacles to a takeover of the Worcester, Mass.-based plastics and ceramics company, the one-sided tender result was another setback in Norton’s effort to remain independent.
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