P.M. BRIEFING : Sony Tendered 99% of Columbia
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From Times wire services
NEW YORK — Sony Corp. said today that its $3.4-billion tender offer for Columbia Pictures Entertainment Inc. had expired as scheduled and that it had been tendered or promised about 99% of Columbia’s shares.
Sony and Columbia had reached an agreement Sept. 27 under which the Japanese electronics and records company would launch a tender offer of $27 a share for all of Columbia’s stock.
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