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Last updated on Wednesday, May 31, 2006
(INDIANAPOLIS) - A late buyout offer for Marsh Supermarkets may be too late.
Investment partnership Drawbridge/Cardinal is offering $2.50 a share more than Sun Capital partners. But the Marsh board has already recommended the Sun offer to stockholders.
Marsh officials aren't commenting, but the company says in a statement it's unwilling to pay more than 10-million dollars in penalties for backing out.
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