Elder-Beerman gauges interest in buyout
May 16, 2003,
Dayton, OH — After receiving several "unsolicited expressions of interest relating to the possible acquisition of the company," department store retailer Elder-Beerman this morning said it was entertaining buyout overtures. The company said that it has entered into a letter agreement with an interested party to discuss, on an exclusive basis for a limited amount of time, the possible sale of the company.
The company added that there are no assurances that these discussions will result in any transaction. Elder Beerman operates 68 stores.
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