Word: buyouts
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
With Columbia/HCA posting a whopping $1.29 billion fourth quarter loss, while buyout firms are poised to plow a badly needed $600 million into Oxford, managed health care is looking anything but rosy for consumers. Says TIME writer Bernard Baumohl, the consequences could be either a rise in premiums or new mergers in the industry. "Either way, it's not going to be good news for consumers," says Baumohl. "Mergers will limit the range of choices in the industry, which could also ultimately push up premiums...
...will pay some $9 billion for Digital Equipment, a dented dynamo of a company based in Framingham, Mass., in a deal that will complete the transformation of Compaq into a global provider of everything from handheld computers to the monster machines that power corporate networks and the Internet. The buyout creates a behemoth with $37 billion in revenues that trails only the $78 billion IBM. "In the early '80s, if we had thought of one day displacing IBM in PCs and rivaling it in size overall, we would have made good candidates for the loony bin," says Compaq chairman...
...consumers, the world of plastic is not looking so fantastic anymore. AT&T Corp.'s departure from the business--its Universal Card portfolio is being sold to Citibank for $3.5 million--is the latest buyout, as the industry consolidates in an attempt to get back on the gravy train it once rode. With fewer big competitors, the remaining card issuers are getting less generous. AT&T's initial no-fee offer inspired a wink of inducements from other issuers, each upping the ante with low initial rates and rebates. And consumers snapped them up, stuffing an average of seven cards...
...million for himself in the process. His work with Disney helped him befriend Hollywood heavyweights like Michael Eisner and Michael Ovitz, and in 1994 he joined the Beverly Hills crowd by buying the old estate of actor Sidney Poitier. In 1989 he helped finance a $3.65 billion leveraged buyout of Minnesota-based Northwest Airlines, investing about $12 million of his own money. Today much of his fortune is based on the 11.4 million shares he holds in the company...
...have accepted WorldCom's $37 billion buyout bid on Monday, but both companies have a long way to go before they are actually merged, reports Money Daily...