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Ashland Oil may face a hostile takeover bid.

Members of Canada’s wealthy Belzberg family indicated that they may attempt a hostile takeover of the Kentucky company when First City Financial, the family’s holding company, said it had notified the Federal Trade Commission and Justice Department that it was seeking clearance to acquire more than 50% of Ashland. The Belzbergs disclosed last week that they owned 9.2% of Ashland’s stock and were offering to buy the rest on a friendly basis for at least $60 a share, a deal valued at $1.8 billion.


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