Investment bank hired to sift buyout offers

January 18, 1995|By a Sun Staff Writer

Merry-Go-Round Enterprises Inc. has hired the Blackstone Group, a New York investment banking firm, to help it evaluate potential buyout offers, including one that surfaced last week, company President Thomas Shull said yesterday.

Mr. Shull said Merry-Go-Round officials had a "constructive meeting" last Thursday with Dennis S. Bookshester, who had previously said he was interested acquiring a large ownership stake in the retailer.

But Merry-Go-Round felt the proposal was not "fully fleshed out" and told Mr. Bookshester's group, MGR Partners, to work with Blackstone, Mr. Shull said.

Mr. Bookshester, formerly vice chairman of department store chain Carson Pirie Scott & Co., is allied with Wing Tai Holdings Inc., a Hong Kong clothing manufacturer.

Ben Waisbren, a lawyer for MGR Partners, declined to discuss what happened at last week's meeting. But MGR Partners still hopes to get a look at Merry-Go-Round's books to determine whether it wants to make a formal offer, Mr. Waisbren said.

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