Fabricland Rejects Bid: Fabricland Inc. said its...
From Times Staff and Wire Reports
Fabricland Rejects Bid: Fabricland Inc. said its board rejected as inadequate a $44-million unsolicited takeover offer from House of Fabrics Inc., the Sherman Oaks-based operator of the nation’s largest fabric-store chain. Fabricland, a Portland, Ore.-based chain of 77 outlets, urged its stockholders not to sell under House of Fabrics’ $13.50-a-share tender offer. Investors apparently believe a higher bid could be forthcoming, as Fabricland’s stock closed at $13.875 a share-above the tender offer price. House of Fabrics declined comment on Fabricland’s 1919251312
