Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing Its Offer Expire

Newspaper article St Louis Post-Dispatch (MO)

Morning Briefing Its Offer Expire

Article excerpt

Carson Pirie Lets Its Offer Expire

Carson Pirie Scott & Co. of Milwaukee says its $19-a-share tender offer for Younkers Inc. has expired without its buying any of the 3.8 million Younkers shares offered by shareholders. But its desire to acquire Younkers "is undiminished," Carson Pirie Chief Executive Stanton Bluestone said.

Carson Pirie Scott's $170 million tender offer expired Friday night. The 3.8 million shares, together with the 1.0 million owned by Carson Pirie, represents 54.4 percent of Younkers's outstanding shares.

Still, for Carson Pirie to succeed, it must get Younkers' board to drop its "poison pill" and agree to put the company up for sale.


***** IRA Threatened, Wife Says

The wife of celebrity economist Lawrence Kudlow reportedly has asked a court to freeze his retirement account, saying he otherwise would spend all of the money on cocaine.

The suit, filed in Manhattan late last week, has been sealed. But published reports say the documents express Judith Kudlow's fear that her husband could die from a "cocaine binge" if his funds aren't cut off. The documents say Kudlow recently took $60,000 from his Individual Retirement Account.

Kudlow, 47, once one of Wall Street's most respected economists, left Bear Stearns & Co. in March 1994 and later disclosed he was addicted to narcotics and alcohol.

Associated Press

***** 2 Accused In Monus Trial

Two people have been accused of jury tampering in the first federal trial of former Phar-Mor Inc. President Michael Monus. Raymond Isaac, 25, and Cheryl McRae, 40, both of Youngstown, Ohio, were charged in a five-count indictment, a federal prosecutor said Monday. …

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