Security Pacific Corp. could be about to...
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Security Pacific Corp. could be about to launch a bid for British merchant bank Morgan Grenfell Group PLC, an official at Hoare Govett merchant bank, a Security Pacific subsidiary, said in London. Morgan Grenfell has been the subject of takeover rumors since early this year. It has been under a cloud because of its involvement as adviser to Guinness PLC during Guinness’ takeover bid for Distillers Co. PLC. The takeover is being investigated for alleged stock manipulation by Guinness.
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