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Whitehall Jewellers reviews unsolicited offer

Specialty retailer Whitehall Jewellers Inc., Chicago, announced that its board of directors and management are reviewing the financial and other terms of the unsolicited tender offer made by one of its stockholders, Newcastle Partners L.P. for all of the outstanding shares of the retailer's common stock for $1.20 net per share. By Dec. 16, Whitehall's board will advise its stockholders whether it recommends acceptance or rejection of the tender offer, expresses no opinion and remains neutral toward the tender offer, or is unable to take a position with respect to the tender offer. In the meantime, the retailer has urged its stockholders to take no action with respect to the offer.

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