Word: bidness
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Dates: during 1980-1989
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...deal, which is expected to be approved by the Italian government, was a coup for the U.S. firm. AT&T triumphed over a homegrown bid from Fiat, as well as proposals from French, West German and Swedish competitors. The Italian project will help give AT&T a strong foothold in the fast-growing European telecommunications market. Italtel, for its part, hopes to parlay its new association into expanded phone-equipment exports...
Legislators are haunted by the specter of defeated colleagues, even those from another era. Jimmy Carter was still President when House Ways and Means Committee Chairman Al Ullman lost a re-election bid in 1980, in part because of his advocacy of a value-added tax. But nearly a decade later, a Congressman cannot even discuss the possibility of that kind of tax increase without being warned, "Remember what happened to Ullman." Last year, despite the 99% re- election rate, two powerful House Democrats were rejected by the voters. Such dramatic defeats are frightening to legislators, argues G.O.P. Congressman Newt...
When Gov. Michael S. Dukakis lost his bid for the presidency this fall, conventional wisdom put Harvard's popularity about even with the polluted Boston Harbor...
...Holly Farms' stockholders, Tyson offered a spicier bid of $1.15 billion last week, contingent on the cancellation of the ConAgra agreement. In response, the Holly Farms board of directors said that unless ConAgra comes up with a better offer before a special stockholders meeting in late February, it will recommend the Tyson offer to its shareholders. Then the poultry prince will really have something to crow about...
...most hotly contested use of an ESOP is at Polaroid, which has put 14% of the company's stock into employees' hands as a maneuver in its bitter six- month battle against a takeover bid by Shamrock Holdings, owned by the Roy Disney family. Because Massachusetts-based Polaroid is incorporated in Delaware, where an anti-takeover law requires that bidders must get 85% ownership of a target company to gain control, the ESOP is leaving Shamrock with almost no room to maneuver. When a Delaware court rejected Shamrock's challenge of the ESOP, Polaroid's workers "jumped up and down...