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March 17, 1988

FRAMATOME LOWERS THE OFFER PRICE OF ITS BID FOR TELEMECANIQUE

By CBR Staff Writer

Nuclear power station builder Framatome SA has taken the unusual step of lowering the offer price of its bid for Telemecanique Electrique SA FF4,500 against FF5,800, but extended it to all the shares outstanding rather than the 45% it had been seeking: Schneider SA is offering FF5,500 for 45.1% of the shares.

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