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A Chicago investment firm has dropped out...

A Chicago investment firm has dropped out of a management-led group seeking to buy Postal Instant Press, the nation’s largest franchiser of quick printing and copying centers. Golder, Thoma & Cressey, which had teamed up with senior PIP managers to buy the company, will be replaced by Kane-Miller Corp. Kane-Miller already owns about 18% of PIP and failed in an attempt to buy the entire company in 1987. The management-led group is offering $15.50 a share for PIP.


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