Word: buyout
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HAVE YOU GOT A WORD MEANING LEVERAGED BUYOUT? Drawing up a contract that is precisely equivalent in two languages, English and Russian, can be a mind- bending exercise. One problem: there are no words in the Russian language for many Western business terms. Michael Bonsignore, president of Honeywell International, took special care in preparing contracts for the equipment that his company is providing for four Soviet fertilizer plants. Says he: "We translated our English documents into Russian, then had someone else translate them back into English to make sure that we were really saying to them exactly what we wanted...
When Ross Johnson, flamboyant head of RJR Nabisco, lost his bid for control of the giant food and tobacco company in a $25 billion leveraged-buyout brawl last year, he also lost his job. Last week RJR's new owner, the buyout firm Kohlberg Kravis Roberts, announced its surprise choice for Johnson's replacement: Louis Gerstner, 47, marketing maven and president of American Express...
...business. But KKR partner Henry Kravis chose Gerstner for his prowess as a strategic planner. Among other accomplishments, Gerstner launched the successful Platinum card. As chairman at RJR Nabisco, he will have to engineer the sale of about $8 billion in assets to pay off some of KKR's buyout borrowings. But his compensation will be as tall as his task: as much as $45 million over five years...
Bakes and Lorenzo avoided specific comment on news that Lorenzo rival Carl Icahn had been asked by Eastern strikers to consider a buyout of Eastern...
Harvard was a limited partner in the largest LBO ever--the Kravis, Kolberg and Roberts takeover of RJR-Nabisco--and Lewis said that buyout was "very well conceived...