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The FTC has subpoenaed the owners of...

The FTC has subpoenaed the owners of a partnership making a $2.7-billion hostile takeover bid for Interco Inc. in connection with an investigation of possible antitrust violations, the partnership disclosed. Steven M. Rales and Mitchell P. Rales, City Capital Associates Limited Partnership and others were served with subpoenas on Oct. 24 requiring the Raleses to produce documents, said Cindy Carpenter, a spokeswomen for the brothers. The Rales brothers lead a group that controls about 8.7% of Interco’s stock and has offered to pay $74 a share to acquire the St. Louis-based furniture and apparel company.


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