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More than two-thirds of Koppers Co.'s common...

More than two-thirds of Koppers Co.'s common stock is now owned or controlled by the Anglo-American investment group that’s pressing a $1.7-billion hostile takeover bid for the Pittsburgh-based construction materials and chemicals company. The investment group, headed by British industrialist Brian Beazer and the U.S. investment firm of Shearson Lehman Hutton, disclosed that about 17.2 million shares of Koppers’ common stock was tendered by late Friday under the $60-a-share offer. Combined with the 2.1 million Koppers’ shares it already owns, the group now holds or has tender offers for about 68.5% of Koppers’ outstanding common stock. The Beazer group may not actually buy any of the tendered shares as yet because of two federal court injunctions blocking its tender offer. The group has extended its offer through this Friday.


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