Batesville Casket withdraws from acquisition

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Hillenbrand Industries Inc. said today that its Batesville Casket Co. unit has aborted its planned acquisition of Yorktowne Caskets Inc. because it learned yesterday that Yorktowne sold some of its assets to another company.

Yorktowne, of York, Pa., sold the assets to Matthews International Corp., a Pittsburgh maker of memorials, Hillenbrand alleged. Hillenbrand, headquartered in Batesville, said it spent $3 million planning the deal.

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