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Montgomery Ward Buys 19.6% Stake in Levitz: The Chicago-based specialty store company said it paid $9 each for 7.2 million shares of the furniture retailer, for a total of $65 million. That is a premium over Levitz’s stock price, which closed Tuesday at $7 a share, down 37.5 cents on the New York Stock Exchange. Montgomery Ward also said it acquired stock warrants that if exercised would give it about 42% of Levitz Furniture Inc. common stock. Levitz, of Boca Raton, Fla., rang up sales of $1.05 billion in the fiscal year ended March 31. Privately held Montgomery Ward had 1994 sales of $7.04 billion, with nearly $4 billion of that in home furnishings. Montgomery Ward operates nearly 380 specialty stores in 39 states. Levitz operates 134 stores in 26 states.