A Baldwin Securities plan got court approval.
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The U.S. District Court in New York approved the company’s cash tender offer to its public stockholders as part of a settlement of shareholder litigation. The tender offer price will be equal to the price at which Baldwin’s controlling stockholder group sells its stock to a group of investors, including Stephen Shalom and Arthur G. Cohen. The complicated price-setting formula would yield a price of about $11.63.
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