Word: bidding
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Dates: during 1960-1969
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Another executive was recently shifted from Manhattan to Chicago. When he put his suburban New York home up for sale, one eager would-be buyer offered him $500 to be first to bid on it. He sold the house for a large profit. The disillusionment set in after he moved to Chicago and sought a house in the suburbs. "I had to pay much more for less house," he complains...
East House rallied Thursday and held off a strong catch-up bid by North House Friday, to win the biannual Radeliffe Swim Marathon by only 15 laps, 2866 to 2851. South House was a discouraging third with 1629 laps...
...Since then, by extending his successful leasing activities into other areas and adding insurance and data-processing operations, he has built the company into a business with assets of $400 million. When Steinberg, a tall and portly man, announced last summer that he intended to make a $60 million bid for the London scientific publishing house of Pergamon Press Ltd., Britons viewed him as a brash Yankee millionaire-one of those action sculptors who hammer out free-form conglomerates. This impression was fortified by Leasco's on-again, off-again tactics. After withdrawing the offer in a falling...
During the takeover struggle, Steinberg remained in the background while the British Rothschilds, who acted as Leasco's advisers in the bid, rounded up the crucial 15% of Pergamon's stock that is controlled by staid bankers in London's City. That stock, added to Leasco's 38% holding in the company, put Steinberg over...
...cash assets. This deal, accomplished through a stock swap, sparked an inquiry by Brooklyn Democratic Congressman Emanuel Celler, who has serious doubts about conglomerates' taking over insurance companies and using their funds for expansion. Among the details turned up in hearings last week was that, in preparing the bid, Leasco executives used the code name "Raquel" for Reliance to conceal the identity of the target from even Leasco's own employees...