INSURANCE
From Times Staff and Wire Reports
New Bid for First Capital: A group of banks, brokerage firms and other lenders said they plan to submit a buyout offer for First Capital Life Insurance Co. within the next two weeks. The proposal, by a group that includes Dean Witter and Mitsui Manufacturers Bank, would be the second for the failed San Diego-based insurer. Shearson recently announced that it wants to buy First Capital for about $50 million. The investment group is made up of major creditors of First Capital Holdings.
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