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ELECTRONIC SPECIALTY CO. v. INTERNATIONAL CONTROLS CORP.

No. 68 Civ. 3434.

296 F.Supp. 462 (1968)

ELECTRONIC SPECIALTY CO., William H. Burgess and John B. Fitzpatrick, Plaintiffs, v. INTERNATIONAL CONTROLS CORP., Defendant.

United States District Court S. D. New York.

September 11, 1968.

Attorney(s) appearing for the Case

Kaye, Scholer, Fierman, Hays & Handler, New York City, for plaintiffs, Milton Kunen, Jay G. Strum, New York City, of counsel.

Cahill, Gordon, Sonnett, Reindel & Ohl, New York City, for defendant, David R. Hyde, New York City, and Hogan & Hartson, Washington, D. C., of counsel.

OPINION

McLEAN, District Judge.

This is an action to enjoin defendant from carrying out a tender offer which it made on August 19, 1968 to purchase 500,000 shares of the common stock of plaintiff Electronic Specialty Co. (ELS) at a price of $39 per share. The offer was to expire on September 3, 1968, but has been twice extended, first to September 9 and then to September 12. By now at least 500,000 shares have...

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