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J.M. PETERS CO. INC. ANNOUNCES TERMINATION OF NEGOTIATIONS WITH KAUFMAN AND BROAD

 J.M. PETERS CO. INC. ANNOUNCES TERMINATION
 OF NEGOTIATIONS WITH KAUFMAN AND BROAD
 NEWPORT BEACH, Calif., April 3 /PRNewswire/ -- The J.M. Peters Co. Inc. (AMEX: JMP) announced that it was informed by the Resolution Trust Corp. that negotiations with Kaufman and Broad Home Corp. (NYSE: KBH) for the sale of the shares of the company held by San Jacinto Savings Association, F.A., have terminated. The RTC is acting as receiver for San Jacinto, which owns approximately 86 percent of the company's outstanding common stock. Earlier this year, the RTC had named Kaufman and Broad as the lead bidder and entered into exclusive negotiations with it for the purchase of the shares.
 The RTC has informed the company that it will continue to seek a buyer for San Jacinto's stock position.
 -0- 4/3/92
 /CONTACT: Greg Petersen of J.M. Peters Co. Inc., 714-854-2500/
 (JMP KBH) CO: J.M. Peters Co. Inc.; Kaufman and Broad Home Corp. ST: California IN: CST SU:


EH-KJ -- LA030 -- 5032 04/03/92 17:12 EST
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Publication:PR Newswire
Date:Apr 3, 1992
Words:173
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