Word: bidness
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Dates: during 1980-1989
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...Paramount Communications engaged in a fresh round of legal and financial swordplay last week. No clear winner emerged in the epic duel, but the thrusts and parries offered Wall Street speculators plenty of titillation -- and uncertainty. Time's board started off by rejecting Paramount's sweetened takeover bid, in which the company raised its offer for Time from $175 to $200 a share, or a total of more than $12 billion. The Time directors reiterated their plan to go ahead with an acquisition of Warner Communications for as much as $14 billion in cash and securities. Investors who expected...
...week of first year I met this guy in the laundry room. He was perfectly nice, (he was even from the Midwest--not Eastern at all) and we talked about the QRR test for awhile. Eventually my darks were dry and I collected my basket, jug of Tide and bid him goodbye...
...week announcing the upgraded offer to Richard Munro, chairman of Time, Paramount Chairman Martin Davis said he hoped "that your board and management will now discontinue your efforts to preclude stockholder choice and give Time's shareholders an opportunity to consider our offer." Time promised to consider the new bid "in due course" and advised its stockholders "not to act on the offer until they hear from Time...
...share offer is certain to be welcomed by money managers and shareholders who had chafed at Time's rejection of the original Paramount bid. Said Paul Kagan, head of Paul Kagan Associates, a California-based firm that follows the media industry: "It will be very hard for management to tell stockholders that they can't have the $200. This is a large price for Time stockholders who have waited a long while for prices to approximate the real value of their stock." Time shares closed Friday at 165 7/8, up 10 1/2 for the day, in response to leaked reports...
Outraged by industrial accidents and financial misdeeds, activists demand a more responsible corporate America. -- Paramount boosts its bid for Time Inc. to $12 billion...