National Can won’t oppose Triangle’s takeover bid.
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The chairman of Chicago-based National Can said he will not oppose the $420-million takeover offer begun by Triangle Industries of New Brunswick, N.J. Miami financier Victor Posner said he has dropped out of the bidding and has agreed to tender his 38% stake in National Can to Triangle. Triangle is offering $41 a share for each of National Can’s 10.24 million common shares.
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