His firm, Jefferies and Company, pioneer of after-hours trading activity, is applying for membership of the London Stock Exchange at the very moment of a blazing row over its most audacious deal yet.
On Friday October 24 a Big Bang exploded in the middle of the fierce New York takeover battle for control of US Allied Stores. The Canadian bidder Campeau dropped a tender offer for Allied stock just before 9am. But less than 30 minutes later it picked up 48% of Allied, which, with earlier purchases, gave it control and apparent victory over the rival bidder, Edward DeBartolo.
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