Word: buyouts
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...department stores, the Jack Eckerd drugstore chain and Beatrice. Profits on those raids: $13.2 million. The Hafts' biggest score came in October 1986, when the Safeway company paid Dart $59 million to go away, so that the chain's management could execute a $4.1 billion leveraged buyout of the firm. Dart's total take at the Safeway checkout stand: $137 million. Six months later, the Hafts cleared $32 million more after an assault on Supermarkets General...
...takeover attempts, the Hafts took heavy losses ($104 million), selling off their Dayton Hudson shares at a sharply lower price. But they were on the trail again by January, closing in on Stop & Shop. Kohlberg Kravis Roberts stepped in, as it had with Safeway, to help engineer a leveraged buyout, but the Hafts made $17 million dumping their stock as the price rose. Wall Street wags joked that Kohlberg should pay Dart a finder's fee for clients...
...established, profitable service business in which the workers do everything they can to make customers happy? That proposition is being put forward by a group of Nevada entrepreneurs, led by lawyer Peter Perry and real estate developer Donald Clough, that is trying to attract investors for an unusual buyout. The target: Nevada's Mustang Ranch, the largest legalized brothel...
...billion buyout, to be financed mostly by giving Commercial Credit stock to Primerica shareholders, marks a triumphant return to Wall Street for Weill, 55, who built the investment firm that has become Shearson Lehman Hutton. What gave Weill his opportunity was a strategic miscalculation by Primerica Chairman Gerald Tsai, 59, who paid a lofty $750 million for Smith Barney just a few months before last year's crash. The debt he incurred in buying the firm became burdensome when Smith Barney's brokerage business sagged after Black Monday. Weill, as head of the combined firm, intends to sell Primerica...
Aiming for a much larger U.S. position, Lagardere last November offered CBS $600 million for the 19 publications that constituted the company's magazine group. CBS spurned the offer in favor of a rival $680 million leveraged buyout led by the magazine division's head, Peter Diamandis. Since then, Diamandis has unloaded seven magazines for $243 million, but the sales in no way diminished Hachette's ardor for the remaining package. The company paid more than $700 million for the dozen magazines that had sold only a few months earlier for around $400 million...