Theodore Cross made an offer for Harper & Row.
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Cross, one of Harper & Row Publishers’ major stockholders, offered $34 a share, or about $148 million for the company. Cross, who is from Princeton, N.J., described the offer as “friendly but unsolicited.” In a telephone interview, Cross, 62, said he also planned to retire Harper & Row’s $40 million in outstanding debt and would take the company private. He said he sent a letter to the board of directors at Harper & Row outlining the proposal and requested a response by March 17. Cross disclosed his plans in a Securities and Exchange Commission filing.
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