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Minstar Inc. has revived plans to merge...

Minstar Inc. has revived plans to merge with its boating subsidiary, offering to acquire the Genmar Industries shares it does not already own and some of the company’s outstanding debt for about $85 million. An earlier proposed $559-million acquisition of Minstar by Genmar, both of which are controlled by Minneapolis financier Irwin L. Jacobs, fell apart last year when the stocks of both companies plummeted in the October market crash before shareholders were to vote on the deal. Under terms of the latest transaction, Minstar would pay $11.50 each for the 4.8 million shares, or 16.5%, of Genmar that it does not own. Minstar also would pay $29.4 million for Genmar debentures with a principal amount of $35.4 million.


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