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Byline: Terry Brennan
The year-long persistence of New World Coffee-Manhattan Bagel Inc. in its battle to take over bankrupt Einstein/Noah Bagel Corp. may have finally paid off with a Phoenix judge's approval of its $190 million bid over one made by the company's earliest suitor.
New World Coffee, repeatedly rebuffed by Einstein/Noah since its initial hostile takeover offer in August 2000, submitted the expanded bid, which includes $30 million in assumed debt, to squeeze past a sweetened last-minute offer by New York private equity firm Three Cities III LP.
The board of Einstein/Noah Bagel, which filed for Chapter 11 in April 2000, initially had …