Polaroid Corp. lost a bid in federal...
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Polaroid Corp. lost a bid in federal court in Delaware to block a hostile, $2.4-billion takeover bid by Shamrock Holdings. Polaroid had accused the Burbank investment firm of numerous securities law violations, and the Cambridge, Mass., instant photography company had asked for a preliminary order to stop Shamrock from proceeding with its $42-a-share offer.But Judge Caleb Wright denied the request, finding that Shamrock’s offer adequately disclosed sufficient information under federal securities laws.
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