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DAMON CORPORATION RESPONDS TO CORNING TAKEOVER PROPOSAL

 NEEDHAM HEIGHTS, Mass., June 29 /PRNewswire/ -- Damon Corporation (NYSE: DCL) announced today that, in response to the unsolicited takeover proposal of Corning Incorporated (NYSE: GLW) to acquire Damon for $23 per share and as permitted by Damon's merger agreement with National Health Incorporated, the Board of Directors of Damon has directed management to participate in negotiations with Corning concerning its proposal and, subject to the execution of a customary confidentiality agreement, to provide certain information concerning Damon to Corning in response to Corning's request to conduct certain due diligence on Damon.
 -0- 6/29/93
 /CONTACT: Fredric Spar of Kekst and Company, 212-593-2655, for Damon Corporation/
 (DCL GLW)


CO: Damon Corporation; Corning Incorporated ST: Massachusetts, New York IN: SU:

TS -- NY034 -- 6640 06/29/93 11:01 EDT
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Publication:PR Newswire
Date:Jun 29, 1993
Words:128
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