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Murphy Takeover Approved

Ames Department Stores. Inc. and G.C. Murphy Company have jointly announced that G.C Murphy has agreed to be acquired by Ames for $48 per share in cash. The boards of directors of both companies have unanimously approver! the transaction, and a definitive merger agreement has been executed As the first step in the transaction. Ames will Fair Planning COURT HOUSE - A 4-H Fair planning meeting will be held 7:30 this evening at the Cooperative Extension Service Educational Center. Dennisville Road here.

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make a tender offer to acquire any and all shares of G.C. Murphy common stock at $48 per share, net to the seller in cash. The offer will not be subject to any minimum number of shares be ing tendered AMES OWNS or has options to acquire approxi mately 84 percent of G.C. Murphy's common stock One such option was granted to Ames by G.C Murphy as part of the proposed transaction. It consists of an option to acquire 786,000 newly-issued shares '(approximately 15 percent of the outstanding shares upon exercise of that option) The option is exercisable. under certain conditions. at $48 per share SEPARATELY. Ames announced that it has exercised an option to acquire approximately 19.4 percent of Murphy's common stock The option was acquired from Irwin Jacobs and his associates. 'Ames operates 185 discount department stores in II northeastern states Murphy operates 381 stores in eluding 1 18 discount depart ment stores and 263 conventional retail units in 19 states, primarily Middle Atlantic states, including two in Cape May County, and the District of Columbia.

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For the fiscal year ended January 1985. Ames reported net income of $28.5 million on sales of $822 million. For the same period. Murphy reported net income of $20.1 million on sales of $913 million. CCC Names '68 Alumna To Chair VINELAND - Cumberland County College's board of trustees recently unanimously approved Katherine Daniels, a member of its first graduating class in 1968. as chairperson of the Nursing and Allied Health division, effective Sept 1 Daniels has been serving as acting chairperson of the division since Jan. 1 Dr Philips. Phelon. CCC president, announced that the college has signed an articulation agreement with the New Jersey Institute of Technology to increase the number of courses that may be used toward obtaining a bachelor's degree there. UNDER THE agreement, the president said, pre-en gineering and industrial technology students will know exactly what courses to take to transfer into the New Jersey Institute of Technology's baccalaureate degree program According to Phelon. CCC also-has atriculation agree menls with Widener University, the New York College of Technology - and is in the final stages of an agreement with Drexel University — concerning the transfer of pre-engineering and industrial technology students Seven of the eight May 1985 CCC pre engineering graduates will bo enrolling as juniors at Widener this fall under the agreement The board voted to adopt the 1985 86 and 1986-87 academic calendars Under the new calendars, the four week winter session and summer inlersession semesters will he eliminated The new calendars will feature 13-week fall and spring semesters as well as two sixweek summer semesters New Post For Smith ATLANTIC CITY - The First Jersey National Rank South has appointed Edith P Smith branch manager and assistant vice president of the Cape May office, according to David Repici. regional vice president Ms. Smith has been with the bank since 1976 and previously served as branch manager and assistant vice president of the Sea Isle office She was formerly manager and senior branch officer of Guarantee Bank's Rio Grande office A graduate of Cape May High School mow Lower Cape May Regional High School). Ms Smith has studied with the American Institute of Banking The Erma resident is a member of the National Association of Bank Women. Inc

i - vp PRIZE WINNERS — Presentation of awards in grand prize drawing in celebration of reopening of Sturdy Savings and Loan's Avalon branch office are presented by Kathy Lloyd, branch manager, second from left. Prizes went to Tony Garofalo. left, husband of microwave oven winner Helen Garofalo: Ina Cobb, winner of color television set. and George Nessenthaler. who won clock radio.

Chinnici Honored

ABSECON - Assembly man Joseph W Chinnici ( R Cumberland-Cape May), a senior Republican who has served 14 years as a member of the Joint Committee RegistryEstablished For Jobless COURT HOUSE - A Qualified Job Registry for employment has been set up here by Cape Human Resources. Inc The agency is seeking qualified minority workers or women looking for a job Applicants should be semiskilled. or have professional skills, said Bernice H Gordon, executive director p "Our agency receives continuous) information about minority employment and we feel it is time for a registry where prospective employers and employes can link up." said Mrs. Gordon. For additional information or to sign up for the job registry, call 465-5139 or 729-1902.

on Appropriations, has received the "Legislator of the Year Award" from the At-lantic-Cape May Pharmaceutical Association. The presentation was made at the annual dinner of the association at the Rams Head Inn Sunday. June 2. The award was given to Chinnici for his "outstanding service to his constituents and to all citizens of the State of New Jersey" and for his wholehearted support of the pharmaceutical industry in general and more particularly to the New Jersey Department of Human Services Camp Meeting COURT HOUSE - There will be a planning meeting 7:30 this evening in the Cumberland County 4-H Office for those interested in going to 4-H Camp as counselors Those interested will meet at the Cape May County Extension Service here at 6:60 p.m. and proceed to the meeting by car pool.

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