Opinion ID: 1799426
Heading Depth: 2
Heading Rank: 3

Heading: Brainin Discusses Possible Sale to Pritzker.

Text: As already mentioned, before the Gulf group became a part of the picture, the Brainin group had become unhappy with their holdings in Fenestra and had decided to sell. In the early part of May, 1963, a member of the Pritzker group and Brainin discussed the possibility of the sale of Brainin's large holdings to Pritzker. Brainin's asking price was the book value per share or approximately $23.50. This figure was substantially greater than the market price as reflected on the New York Stock Exchange. The Pritzkers declined the invitation to purchase the Brainin shares but conceived of the idea of contacting Gulf, a company with which it was familiar, and suggesting that it consider the purchase of the Brainin shares in Fenestra. Pritzker was familiar with the Gulf operation because Pritzker had assisted in financing some of the loans made by Gulf for its land development operations.