Word: bronfmans
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When Edgar Bronfman, chairman of the Seagram Co., flew to Moscow in September as president of the World Jewish Congress (W.J.C.), he was allowed to travel in his private jet, a relatively rare privilege for a Western visitor. At Moscow's Sheremetyevo Airport, he was received cordially by Kremlin officials. Bronfman's stated objective was to ask the Soviets to lift emigration restrictions for Jews who want to leave the Soviet Union and to allow religious freedom for Jews who wish to remain. Earlier this month Bronfman made another visit to Moscow, and last week sources familiar with the talks...
...wine business, culminated last month with Seagram's announcement of plans to buy Coca-Cola's Wine Spectrum division for about $200 million. But Cunningham's efforts to take partial credit for the purchase were met with skepticism from some industry observers. Moreover, Seagram Chairman Edgar Bronfman says of the purchase in an interview in the Oct. 15 issue of Impact, a trade publication: "It was my idea." But Cunningham brushed aside those criticisms. Said she: "The plan has taken root. I feel very confident I have delivered what I was asked...
After Du Pont's new offer, an uneasy and temporary lull settled over the competition. Explained a top financial adviser to Seagram's Bronfman: "We're just going to sit back for a while and see what happens." But then, after three days of waiting, Mobil moved. It offered $7.7 billion, or $90 per share. The other bidders immediately returned to their calculators to plot their next ploys...
...warning letter from the Arab state of Dubai, where the firm pumps nearly a fourth of its oil supply. The letter said that Conoco's production in Dubai would be in "grave jeopardy" if the company were acquired by Seagram. Dubai's displeasure was seemingly caused by Bronfman's position as president of the World Jewish Congress...
...Lazard Freres and Shearson Loeb Rhoades, in its effort to snare Conoco. Rohatyn and his Lazard Freres staff of only a dozen handled $10 billion worth of mergers last year. Shearson's group is led by Managing Director Mark Millard, 72, who in 1963 advised Seagram Chairman Edgar Bronfman to buy Texas Pacific Oil Co. for $326 million. Seagram last year sold Texas Pacific to the Sun Oil Co. for $2.3 billion; that money is now providing the bulk of funds used in the bidding for Conoco...