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Hyde: Blue Star is 2d fiddle to Silvershoe PEABODY, Mass. -- Charles Gottesman, treasurer of Hyde Athletic Industries, Inc., said that a previous acquisition agreement with Silvershoe Partners, New York, prevents the company from cooperating with Blue Star Holding Inc., Cambridge, which made an unsolicited bid for Hyde two weeks ago.
James Darrow, outside counsel for Blue Star, declined to comment on Hyde's stated inability to cooperate with other acquisition offers.
Blue Star's offer for a cash merger at $9.50 per share came after Silvershoe Partners, an investment group, reached an agreement to acquire Hyde for $8.50 a share.
"We don't know anything …