Pabst’s board said it supports Kalmanovitz’s offer.
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The board of directors announced that it officially supports a $10-per-share offer by California brewer Paul Kalmanovitz for the Milwaukee company--an offer worth about $64 million. The move came after G. Heileman Brewing, a La Crosse, Wis., brewer that has been stopped in federal court from proceeding with its planned purchase of Pabst at $11 per share, or $70 million, allowed that offer to expire. Pabst had said last week that it unofficially supported the offer by S&P; Co., a holding company owned by Kalmanovitz, but had been precluded from formally supporting that bid while the Heileman bid was still alive.
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