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Paine Webber Group denied rumors of an...

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Paine Webber Group denied rumors of an imminent leveraged buyout. The investment firm said there was “no basis” for the rumors, which were apparently behind a surge in its stock price in heavy trading. Dow Jones News Service reported rumors that management and Yasuda Mutual Life Insurance Co., which holds an 18% stake in the firm, planned to take the company private or that Yasuda planned to purchase the company outright. Paine Webber stock closed at $18.625, up $1.625, on volume of 1.27 million shares. Volume has been averaging 90,000 shares daily.

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