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August 14, 1988

PI HOLDINGS HAS BEGUN OFFER FOR PLANTRONICS

By CBR Staff Writer

PI Holdings Inc, formed for the purpose by a group led by the target’s management, has begun its $25 a share, $152.5m, offer for Plantronics Inc, which makes telecommunications equipment in Santa Cruz, California: the offer is $21 in cash and $4m in subordinated debt; the group includes Citicorp Capital Investors Ltd and Kidder Peabody.

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