Deadline Passes on Farmers Talks
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From a Times Staff Writer
Friday’s 6 p.m. deadline imposed by Batus Inc. on its new offer to buy Los Angeles insurance holding company Farmers Group passed without comment by either side.
Batus, based in Louisville, Ky., now has two offers on the table--a $63-a-share tender offer that remains open and last week’s sweeter $72-a-share bid that prompted Farmers to agree for the first time to talk with the U.S. arm of Britain’s giant BAT Industries.
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