Great Western’s tender offer remained unresolved.
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A spokesman for Great Western Financial said the savings and loan company is expected to make an announcement today about the offer, which was scheduled to expire Friday night. Great Western is seeking to acquire at least 51% of the common stock of Citadel Holding, the parent company of Fidelity Federal Savings. Great Western is offering 1.2 of its shares for each share of Citadel. Citadel’s board says the offer is “grossly inadequate.”
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