Sybron said it received another buy-out offer.
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Officials of the Rochester, N.Y.-based maker of medical and scientific supplies said they have received a buy-out offer better than one that was rejected several months ago. The new group has offered $24 a share for Sybron’s common stock and $38.40 for its preferred stock--a total of about $265 million in cash, the company reported. In September, the board of directors turned down a buy-out offer from a group of outside investors and the company’s top management of $221 million in cash and new securities said to be worth $33.2 million. Sybron said the latest offer has been made on behalf of a new corporation.
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