In Brief : Appliance Maker Gets New Bidder
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PITTSBURGH — The troubled small-appliance maker Allegheny International Inc. said it is weighing a new takeover offer while continuing to negotiate with a previous bidder, Donaldson Lufkin & Jenrette.
Meanwhile, stockholders were awaiting U.S. Bankruptcy Judge Joseph Cosetti’s ruling on their recent request that they and creditors be allowed to vote on the latest offer from merchant bankers led by Paul Levy, Angus Littlejohn and Peter Joseph. Gary Blum, attorney for the shareholders committee, said the bankers’ offer appears to be better for shareholders than the $811-million takeover proposal from Donaldson Lufkin & Jenrette.
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