Word: cashes
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Dates: during 1980-1989
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...marked packages of cheese. Only a few were supposed to match, but a printing error produced millions of potential winners. Worse, hundreds of people thought they had won the grand prize: a $17,000 Dodge Caravan. In response to customer complaints, the food giant offered a compromise: $250 in cash for winners of the van, lesser amounts for the other winners, and a drawing for four times the original number of prizes...
...goodwill. So far, regulators have allowed S & L buyers to count goodwill as capital in exchange for taking the failed thrift out of the Government's hands. But having no capital of their own at stake enabled some thrift owners to make risky and often fraudulent loans without sufficient cash to back them up. Said New York Democrat Charles Schumer: "The S & L industry has been playing a giant game of roulette, and they have been gambling with taxpayers' money. Without tough capital rules, we will be telling these high-flying speculators, 'O.K., go back to the casinos...
...debt-free, tax-free stock swap with Warner, and instead launched a $70-a-share tender offer for 100 million of Warner's nearly 200 million shares. That would buy Time a controlling interest in its merger partner; the remaining Warner stock will be acquired later in exchange for cash and securities. The deal will cost Time the kind of debt it and Warner had hoped to avoid -- somewhere between $7 billion and $14 billion. Unlike the original Time-Warner arrangement, the initial acquisition will not need the approval of Time shareholders because the first part of the transaction will...
Paramount attacked the revised Time-Warner merger agreement as "a defensive device, pure and simple. From the standpoint of Time shareholders," the company said, "we don't see how it begins to compare with our offer of $175 a share in cash for all shares." Declared Paramount's principal investment banker, Robert Greenhill of Morgan Stanley: "We consider this a very weak response." Paramount repeated an earlier offer to negotiate a higher price, and declared, "We will continue our efforts to acquire Time Inc. with firm determination...
...Wall Street investors took a cautious first look at the proposed Time- Warner cash bid. Time stock, which had closed at 180 on Tuesday on rumors that major new bidders might enter the fray, fell to 162 1/2 a share on Friday. Warner stock rose to 59 1/4, up 3 1/8 for the week, and Paramount, which was also the subject of takeover rumors, closed at 58 1/8, down 1. Many takeover speculators, some of whom own stock in all three companies, seemed perplexed at the growing complexity and unpredictability of the triangular struggle...