Word: biddings
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...passion for hegemony lives on in Damascus. Under the shrewd, ruthless, brutally dictatorial guidance of President Hafez Assad, 53, Syria has been making a bid for the past decade to grasp the torch of Arab unity and emerge as the pre-eminent power in the Middle East. By keeping its 62,000 troops in Lebanon ... Syria has become the key player in that fractured country's future ... Syrians consider Lebanon to be part of 'Greater Syria,' a vague concept of territorial grandeur that thrives more in memory than in reality. Indeed, the two countries share more than a millennium...
Signs are starting to appear. In sports ABC has long been the most aggressive and free-spending of the three networks. But the company's new managers declined to match CBS's bid of $173 million for rights to the next four seasons of N.B.A. games, and they are balking at the hefty fees being demanded for major league baseball and N.F.L. games. "We aren't conceding anything to the competition, but we are getting out of the red ink," says Dennis Swanson, the new president of ABC Sports. One casualty could be Monday Night Football, a once lucrative...
Corporate officials are already doing that. In a bid to fend off the previous raider challenges, USX commissioned investment bankers Goldman, Sachs and First Boston to come up with such a plan by the end of this month. Among other things, the company is reportedly ready to sell off an industrial-chemical subsidiary worth an estimated $400 million...
Similar questions were being asked on the West Coast concerning First Interstate's offer to merge with BankAmerica. Chairman Pinola's bid to swap common and preferred shares of First Interstate's stock for BankAmerica holdings was valued by the smaller bank's officials at $18 a share. More skeptical financial analysts put the offer at $13 or $14 a share. The problem, said Paul Baastad, a vice president of the S.G. Warburg investment bank, is that "no one seems to know what BankAmerica is worth. It's a situation where a bunch of vultures are hovering around a wounded...
Officially, BankAmerica has taken no position on First Interstate's merger bid. It was not the first time that such a marriage proposal had been made. First Interstate's Pinola, who built the regional bank to its current size through a series of daring takeover moves, reportedly approached BankAmerica with an informal merger offer last March, but the bigger bank preferred to retain its independence. Privately, many West Coast financial analysts do not think First Interstate can offer enough money to sway BankAmerica's management and board...