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<?xml version="1.0"?><REUTERS TOPICS="YES" LEWISSPLIT="TRAIN" CGISPLIT="TRAINING-SET" OLDID="12679" NEWID="496"> <DATE>2-MAR-1987 11:23:31.27</DATE> <TOPICS> <D>acq</D> </TOPICS> <PLACES> <D>usa</D> </PLACES> <PEOPLE/> <ORGS/> <EXCHANGES/> <COMPANIES/> <UNKNOWN>F f0955 reuteu f BC-VIACOM 03-02 0104</UNKNOWN> <TEXT> <TITLE>REDSTONE DETAILS SWEETENED VIACOM <VIA> OFFER</TITLE> <DATELINE>WASHINGTON, March 2 -</DATELINE> <BODY>Investor Sumner Redstone, who leadsone of the two groups vying for control of Viacom InternationalInc, offered to sweeten his bid for the company by 1.50 dlrs ashare cash and 1.50 dlrs in securities. In a filing with the Securities and Exchange Commission,Redstone, who controls Dedham, Mass.,-based National AmusementsInc, a theater chain operator, offered to raise the cashportion of its Viacom offer to 42 dlrs a share from 40.50 dlrs. Redstone also raised the face value of the preferred stockhe is offering to 7.50 dlrs from six dlrs. The Redstone offer, which is being made through ArsenalHoldings Inc, a National Amusements subsidiary set up for thatpurpose, which also give Viacom shareholders one-fifth of ashare of Arsenal common stock after the takeover. Viacom said earlier today it received revised takeover bidsfrom Redstone and MCV Holdings Inc, a group led by Viacommanagement which is competing with Redstone for control of thecompany and already has a formal merger agreement with Viacom. The company did not disclose the details of the revisedoffers, but said a special committee of its board would reviewthem later today. The Redstone group, which has a 19.5 pct stake in Viacom,and the management group, which has a 5.4 pct stake, have bothagreed not to buy more shares of the company until a merger iscompleted, unless the purchases are part of a tender offer forat least half of the outstanding stock. The two rivals also signed confidentiality agreements,which give them access to Viacom's financial records providedthey keep the information secret. In his SEC filing, Redstone, who estimated his cost ofcompleting the takeover at 2.95 billion dlrs, said Bank ofAmerica is confident it can raise 2.275 billion dlrs. Besides the financing it would raise through a banksyndicate, Bank of America has also agreed to provide aseparate 25 mln dlr for the limited purpose of partialfinancing and has committed to provide another 592 mln dlrs,Redstone said. Merrill Lynch, Pierce Fenner and Smith Inc has increasedits underwriting commitment to 175 mln dlrs of subordinatedfinancing debt for the Viacom takeover, from the 150 mln dlrsit agreed to underwrite earlier, Redstone said. Redstone said his group would contribute more than 475 mlndlrs in equity toward the takeover. The Redstone equity contribution to the takeover wouldconsist of all of his group's 6,881,800 Viacom common sharesand at least 118 mln dlrs cash, he said. The new offer, the second sweetened deal Redstone hasproposed in his month-long bidding war with management, alsocontains newly drawn up proposed merger documents, he said. Last week, the management group submitted what it calledits last offer for the company, valued at 3.1 mln dlrs andconsisting of 38.50 dlrs a share cash, preferred stock valuedat eight dlrs a share and equity in the new company. Redstone'sprevious offer had been valued at 3.2 billion dlrs. Reuter</BODY> </TEXT></REUTERS>⌨️ 快捷键说明
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