In an era of elaborate takeover defensess, Star Banc Corp.'s Oliver Waddell ended up adopting a rather rudimentary tactic: He just said no.

The Cincinnati banker made headlines this year by rejecting overtures - not once, but twice - from crosstown rival Fifth Third Bancorp. But not so widely known is the fact that is counterpart, George Schaefer Jr., wrote a conciliatory letter seeking to take the sting out of what had become a hostile affair.

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