Word: bidness
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Dates: during 1980-1989
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...corporate raiders. The firms will buy back as much as $5.6 billion worth of their shares with so-called unbundled stock units: packages that include a bond and two new types of securities. Partly because the new packages will allow the companies to pay less in taxes, investors might bid up the price of the new units. Raiders, Wall Streeters believe, might resist paying such a premium, thus foiling takeover bids...
...article appearing in the January Penthouse, John Wesley Fletcher, a former Bakker crony, details homosexual encounters with Bakker, claiming that he also procured other young men for the boss. In ongoing bankruptcy proceedings for PTL itself, an exasperated Judge Rufus Reynolds has thrown out a $115 million bid from a Toronto firm for the theme park, cable network and other holdings, deciding instead to have an auction this week. If the price is not right, or payment terms are not favorable enough, the judge could sell off the properties separately...
Arafat's speech expanded on Palestinian proposals for Middle East peace and appeared to be a bid to gain U.S. support...
Accepting defeat, Johnson issued a concession. Said he: "I am proud of the fact that we put the best bid on the table the first time and this time." He then returned with an attorney to RJR's 48th-floor New York offices in seemingly good spirits. As city lights glittered around them, the two men sipped drinks and munched Oreo cookies while reflecting on the day's ordeal...
...most disappointed loser in the fierce three-way bidding war: CBS, which was considered the favorite after spending $243 million for the rights to the 1992 Winter Games in Albertville, France. As for ABC, it has now been shut out of three straight Olympics. NBC's winning bid exceeded most predictions and far surpassed the $300 million it paid for the Summer Games this year...