J.C. Penney says it has purchased 60.7% percent of the shares tendered, or 35.3 million shares, for $35 a share in the first stage of its offer to acquire Eckerd Corp.(Brief Article)

From: Daily News Record | Date: December 27, 1996 | Copyright information

PLANO, Texas (FNS) -- J.C. Penney said it has purchased 60.7 percent of the shares tendered, or 35.3 million shares, for $35 a share in the first stage of its offer to acquire Eckerd Corp. With the purchase, Penney's now owns 50.1 percent of the outstanding stock of Eckerd. ...

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