A group boosted its Kaiser Aluminum holding.
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Headed by Tulsa, Okla., businessman J. A. Frates, the group said it acquired 1.7 million more Kaiser shares last week and increased its stake to 14.4% from 10.48%. The Frates group said it paid an average of $16.875 for the additional shares. Oakland-based Kaiser recently rejected the group’s offer of $20 a share for the company.
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