A Takeover Maven Sees Gold In Golden Books

In the 1980s, investment manager Lewis Rabinowitz scored heavily by taking large stakes in potential takeover targets. But with the 1990s' dearth of deals, Rabinowitz, whose R. Lewis Securities manages about $100 million in investments, needs a compelling reason other than a possible buyout to invest. His latest quarry is Western Publishing Group, familiar to parents and children for decades through the company's Golden Books. The stock, which trades over the counter at 12, is up from 9 just a month ago but is still a "golden" opportunity, according to Rabinowitz.

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