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Equity One (EQY Quote) unveiled an unsolicited $17-a-share cash bid for rival shopping center developer Cedar Shopping Centers (CDR Quote).
The North Miami Beach, Fla., company said its proposal would give holders of Port Washington, N.Y.-based Cedar a 14% premium to recent trading prices. Equity One also called on Cedar to withdraw a 9-million-share offering it announced Wednesday.
Shares in both companies were halted Thursday. ...
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