Investors confirmed a bid for a W. R. Grace unit.
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David Mahoney, former chairman of Norton Simon, and Michael Rosenthal, a former director at Donaldson, Lufkin & Jenrette, told National Home Center News that they have joined former ITT Chairman Harold Geneen in putting together a bid for W. R. Grace’s retail group, which is dominated by home-center chains such as Ole’s and Handy Dan. In a story in the March 24 issue, Rosenthal said his purpose in bidding for the group is to run the stores, not to obtain real estate for resale.
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