Word: buyouts
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...City Councillor David E. Sullivan on a "buyout" clause included in the new contract of City Manager Robert W. Healy...
...Crimson reports that Harvard may net between $6 million and $12 million from its investment in a limited partnership fund attempting a $20.3 billion leveraged buyout of RJR-Nabisco. If the takeover were successful, Harvard money managers say the University would hold indirect investments in the cigarette company--the same company from which a Harvard committee on ethics in investment advised the University to divest in the spring...
...During 1988, Black Enterprise reports, sales of the 100 largest black-owned firms grew 10.2%, compared with 7.6% sales growth for FORTUNE 500 firms. Largest by far: TLC Beatrice International Holdings (1988 revenues: $1.96 billion), a multinational food- processing concern acquired by Reginald Lewis in a $985 million leveraged buyout two years...
When is a deal not a deal? Buyout agreements are getting trickier because they now bristle with escape hatches. Last month Donald Trump balked on his $365 million pact to buy Eastern's shuttle when the airline sought bankruptcy protections. Brandishing a clause that allowed him to dicker on the price if shuttle business fell off before his deal closed, Trump pressured Eastern into including four more airliners for the same price. The concession was worth up to $26 million...
...offer faces choppy weather. Davis, a billionaire oilman, acknowledges that the buyout hinges on whether he can raise enough cash. While he claims that he can, several of his highly publicized takeover attempts have fallen through. Among them: his $3.8 billion bid for CBS in 1986. Some airline-industry experts argue, moreover, that NWA is worth about $3 billion, or at least $100 per share. Analysts estimated that the company's Pacific routes and real estate holdings, including $500 million worth of property in Japan, have a value of $2 billion by themselves. Beyond that, Northwest owns more than...