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VLI sale

Executive Summary

Today contraceptive sponge manufacturer VLI on Nov. 4 confirmed that it is "engaged in preliminary discussions" with another company interested in acquiring the Irvine, Calif.-based firm. VLI President & CEO Robert Elliott said "we want to work toward an agreement" with the prospective buyer, which is said to have approached VLI with an offer. Speculation in the purchase led to a 19% jump in the price of VLI stock on Nov. 3. VLI lost $3.3 mil. on January-September 1986 sales of $13.5 mil.
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