The battle for Burlington Industries ended.

BI-MS Holdings, a Morgan Stanley Group-organized company, has 24.9 million shares, or 78%, of the Greensboro, N.C., company, and "they expect to begin paying for shares promptly," spokesman David Duffy said. Meanwhile, an investment partnership led by New York financier Asher B. Edelman and Montreal-based Dominion Textile Inc. said it was dropping its rival bid for the company but that it had not tendered its 3.3 million Burlington shares to Morgan Stanley, which offered $78 a share for Burlington.

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