Merger induces two lawsuits and angers small shareholders. (Brooke Partners L.P.; Brooke Group Inc.)

From: Los Angeles Business Journal | Date: January 7, 1991| Author: Cole, Benjamin Mark | Copyright information

Merger induces two lawsuits and angers small shareholders

Wall Street has given a thumb's down to a November merger between the debt-burdened Brooke Partners L.P. of Beverly Hills and the publicly held Durham, N.C.-based Brooke Group Inc., a once-profitable conglomerate turned into a money loser by the deal.

In the wake of the merger, which has provoked two lawsuits, Brooke Group traded last week in the $8-a-share range on the Big Board, off one-third from $12 a...

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