Word: avise
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Dates: during 1970-1979
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Tricks of the trademark-and the Battle of Bully Hill What's in a name? A lot of litigation, that's what. After a round of fisticuffs in New York federal court, the makers of Hawaiian Punch have just been walloped with a decision allowing a rival to...
Fuqua Industries, an Atlanta-based conglomerate, offered to pay no less than $15.50 each for all of the Avis shares held by Smith, and agreed to make an equal or even better offer for the remainder of the stock held by the public. The Justice Department eagerly let it be...
Smith rejected the Fuqua offer, arguing that stockholders would best be served by selling the shares from time to time on the public market. Indeed some Wall Street analysts agree that Fuqua's bid is low in view of Avis' strong earnings. Last year its profits climbed 55...
Fuqua executives and some Avis shareholders implied that Smith does not want to sell because of the fees he derives from the trusteeship. Over the past two years, they note, Smith has received fees of $100,000 from ITT. His law firm got $220,000 from ITT for various services...
Fuqua took its case to federal court in Hartford, requesting 1) that Smith be made to consider its offer, and 2) that Avis' annual meeting be postponed, to block Smith's efforts to ram through antitakeover amendments. The postponement request was rejected, but Fuqua was granted a hearing...