Bisco Withdraws Offer
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<i> Dow Jones</i>
ORANGE — Bisco Industries Inc., a distributor of fasteners and electronic components, withdrew its tender offer Friday to pay up to $2.3 million for 2.6 million common shares of Family Steak Houses of Florida Inc.
Privately held Bisco had launched a hostile tender offer for Family Steak earlier this year. Family Steak, which operates Ryan’s Family Steakhouse franchises in Florida, then filed a lawsuit against Bisco that accused the California company of securities law violations.
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