Word: buyouts
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
When an attempted buyout of UAL, the parent company of United Airlines, collapsed two months ago, the news sparked the minicrash of Oct. 13. Now the failed bid is the talk of Wall Street once again, this time because of a Wall Street Journal report that bankers and lawyers will earn $58.7 million in fees for the deal, despite its downfall. More than $8 million will go to the investment firm Lazard Freres, which advised United's pilots union in the labor-management bid to buy the carrier for $6.8 billion...
...obliged to pay the bills because it accepted the proposed bid, which fell apart when the banks could not raise enough money to finance the buyout. (Citicorp and Chase Manhattan will receive a total of $8 million for their work.) The fees have infuriated some UAL shareholders, since the payments will come out of the company's profits...
...cash, such buccaneers as T. Boone Pickens, Paul Bilzerian and Canada's Robert Campeau once made boardrooms tremble and the stock market dance. No longer. More jeered than feared, many raiders are mired in debt, saddled with bankrupt companies or deprived of their clout. Others who profited from the buyout binge face public obloquy or even years in jail...
This February, RJR-Nabisco became a privatecompany after a multi-billion dollar takeover byKohlberg, Kravis, Roberts and Company (KKR), aWall Street leveraged buyout firm. Harvard, whichwas invested in KKR, now owns part of RJR throughits involvement in the buyout, but can no longervote on its policies...
...points to a contract extension given last February to City Manager Robert W. Healy, which contains a controversial "buyout" clause requiring the city to pay Healy through 1994 even if he cannot serve as manager...