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FIELDCREST CANNON EXTENDS TENDER OFFER FOR AMOSKEAG COMPANY TO NOV. 24

 NEW YORK, Nov. 4 /PRNewswire/ -- Fieldcrest Cannon, Inc. (NYSE: FLD) announced today that it is mailing a consent statement to its stockholders in connection with the authorization and issuance of preferred stock by Fieldcrest Cannon to finance a portion of the company's acquisition of Amoskeag Company (NASDAQ: AMOS). Fieldcrest Cannon previously announced the execution of an agreement to sell shares of a new issue of preferred stock for net proceeds of approximately $72 million.
 The company also announced that, pursuant to New York Stock Exchange rules regarding circulation to stockholders of such consent statements, it has extended its cash tender offer for all outstanding shares of common stock and Class B common stock of Amoskeag. The offer and withdrawal rights will now expire at 6:00 p.m., New York City time, on Wednesday, Nov. 24, 1993. The offer was previously set to expire at 6:00 p.m., New York City time, on Tuesday, Nov. 16, 1993.
 Fieldcrest Cannon has been informed by the Depositary that to date 2,002,599 shares of Amoskeag common stock and 1,120,527 shares of Amoskeag Class B common stock have been tendered to Fieldcrest Cannon. The Dumaines Trust, beneficial owner of approximately 51.8 percent of the total outstanding shares of Amoskeag and 70.8 percent of the voting power of the outstanding shares, has tendered its shares. The aggregate number of shares of common stock tendered represent approximately 90.8 percent of Amoskeag's outstanding common shares and 95.4 percent of the voting power of such outstanding common shares.
 On Aug. 19, 1993, Fieldcrest Cannon's wholly owned subsidiary, Fieldcrest Acquisition Subsidiary, Inc., commenced a cash tender offer for all outstanding shares of common stock and Class B common stock of Amoskeag at $40 per share.
 Fieldcrest Cannon, Inc. manufactures and markets bed and bath products under the Fieldcrest, St. Marys, Cannon Royal Family, Cannon Monticello and private brand labels.
 -0- 11/4/93 R
 /CONTACT: Paul Verbinnen or Anna Cordasco, both of Sard Verbinnen & Co., 212-687-8080/
 (AMOS FLD)


CO: Fieldcrest Cannon, Inc.; Amoskeag Company ST: New York IN: HOU SU: OFR

TM -- NY120 -- 1090 11/05/93 08:32 EST
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Publication:PR Newswire
Date:Nov 5, 1993
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