Word: buy-out
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...ahead of the 1975 month and the highest number since January 1974. Acquisitions by well-known companies in recent months include Pillsbury Co.'s purchase of the 113 Steak & Ale restaurants; W.R. Grace's acquisition of Sheplers Inc., a clothing store; Colgate Palmolive's buy-out of Charles A. Eaton Co., a golf-and tennis-shoe producer; and H.J. Heinz Co.'s takeover of Melloday Lane Foods Corp...
...mating game is being speeded by declining interest rates on borrowings, banks' willingness to make buy-out loans again as money becomes more plentiful and a general reduction in corporate debt that puts many firms in a stronger position to expand. In addition, foreigners, worried about the political and economic uncertainties in Europe and elsewhere, are shopping in greater numbers to buy up or into American companies. For example, a U.S. crane producer, Time Manufacturing, recently sold out to an Irish auto distributor, and a Swiss pharmaceutical corporation is now dickering to buy an American food firm...
After almost two years of delay, American oilmen sat down last week with Saudi Arabian Oil Minister Ahmed Zaki Yamani to arrange a complete Saudi buy-out of Arabian American Oil Co., the free world's largest crude producer. But they kept a tight curtain of secrecy around the five-day meeting at the plush Bay Point Yacht and Country Club, near Panama City, Fla. As most of the negotiators-including executives of Exxon, Mobil, Texaco and Standard of California, the four American partners in Aramco-made for their private jets at the conclusion of the meeting, they refused...
...price system reflects the belief that oil-country governments will soon take over lock, stock and barrel the wells on their territories. Principal reason for that feeling: Saudi Arabian and American owners of Aramco, the consortium that pumps out Saudi oil, recently agreed in principle on a 100% Saudi buy-out (the Saudis now own 60%). Negotiations in London on the details of the deal recessed last week, but it seems likely that in the end the Saudi government will have paid some $2 billion for Aramco. The chief questions still to be negotiated are how much the Saudi government...
...will acquire three Motorola plants in the U.S. and one in Canada, giving it a North American manufacturing base far larger than that of Sony, which became the first Japanese TV company to manufacture in the U.S. by building a plant in 1972 in San Diego. Further, the buy-out nullifies a deal that Motorola had made to market large-screen Quasar color TVs in Japan through a Sony subsidiary (TIME, Sept. 10). Luxury color-TV sets have begun to show signs of catching on with the Japanese consumer, and the benefits of Motorola's technological expertise in making...