Word: anaconda
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Dates: during 1970-1979
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...General Electric's $2 billion purchase of Utah International, a company that mines coal and copper. Two other huge mergers: Mobil Oil's $1 billion acquisition of Marcor, the company that owns the Montgomery Ward department stores, and Atlantic-Richfield's $700 million buy-out of Anaconda, the copper-mining giant. Right now, Gulf Oil has offered $440 million for Kewanee Industries, an independent oil and gas producer; PepsiCo has bid $315 million in stock for Pizza Hut, a chain of franchised fast-food stores; and Anderson, Clayton & Co., a major food processor, initially offered $323 million...
...Jehovah divided his universe: Anaconda, Ford Motors, Coca-Cola...
...Chilean socialist and the American union bureaucrat were both pointing to the same phenomenon: the growing domination of the world economy over the past two decades by multinational corporations--giant firms with operations scattered all over the world. Multinationals, such as ITT, Anaconda Copper, IBM, and General Electric, coordinate production, distribution, and sales on a global scale rather than within the confines of a specific national economy. Consequently, their commitment to any particular country in which they operate is limited to the ways that country can serve as a means to its ultimate ends--the maximation of the overall profits...
...glass business (whose fortunes are closely tied to Detroit's) seem to be up 150% or so. Even railroads and some airlines are showing modest gains. Metals producers are lagging: U.S. Steel's profits fell 46.5% in the first quarter and Bethlehem's 64.6%, while Anaconda suffered a $4.7 million loss. But even they should do better later this year, when spending is expected to pick...
Analysts felt both the Crane and Tenneco offers too low. Many consider Anaconda a company with potential for a strong comeback. Copper prices are expected to rise because shipments from Africa are being disrupted by the Angolan civil war. The company will probably be acquired by somebody, but it may be neither Crane nor Tenneco...