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November 11, 1993

HANNY MAGNETICS TO BUY ASSETS FROM TANDY

By CBR Staff Writer

The buyer for assets of Tandy Corp’s Memtek Products Division, including the Memorex trademark, turns out to be Hanny Magnetics (BVI) Ltd, which is paying $65m in cash and a 7% note; Tandy expects receipt of an another $30m from liquidation of retained receivables.

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