Beatrice’s board held an all-day meeting.
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No announcement was issued, and officials of the food and consumer products giant refused to disclose the subject of the meeting. But it presumably was held to discuss a $5.1-billion buy-out bid by Kohlberg Kravis Roberts & Co., a New York investment firm. The company had asked the New York Stock Exchange to halt trading in its stock Wednesday pending an announcement, but the NYSE decided to allow trading to go ahead. Beatrice stock closed at $45.875 a share, up 87.5 cents, on volume of 3 million shares.
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