Word: darted
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Dates: during 1980-1989
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FEBRUARYFri. 6 at GBCs Sat. 7 (Harvard host) -Sun. 15 at Brown Dart. 1:00 p.m.Sat. 21 PRIN./YALE 12 p.m.Sat. 28 at Heps
...basic areas of expertise. The latest to join the trend is Chicago's Quaker Oats, the breakfast giant. It will shed its nonfood division, the Specialty Retailing Group, which accounts for 6% of the company's $3.67 billion in sales. Acting on the same impulse, Northbrook, Ill.-based Dart & Kraft (1985 sales: $9.9 billion) had previously announced that it would split into two companies. The Kraft portion will retain its name and virtually all of the food lines, including processed cheeses and salad dressings. The other, still unnamed firm will make Tupperware and electrical appliances. And Chicago's Beatrice Foods...
...private. Last week Kohlberg Kravis and a group of outside investors announced that they would do an LBO of the largest U.S. supermarket chain, Safeway Stores, for about $4.3 billion in cash and securities. Safeway's management accepted the plan so that it could escape a takeover bid from Dart Group, a retail chain...
...companies may flinch at the sight of Corporate Raider T. Boone Pickens, but in the retailing business the marauders to watch out for are Herbert Haft, 65, and his son Robert, 33, of Washington. As the owners of Dart Group, which runs the Crown Books and Trak Auto chains, the Hafts always seem to be shopping around for a major retailer. In the past two years they have bought large blocks of stock in May Department Stores and two pharmacy chains, Jack Eckerd and Revco. In each case the Hafts' move drove up the price of the stock...
Last week the father-and-son team made its largest takeover bid ever as Dart Group offered $3.6 billion, or $58 a share, for Oakland-based Safeway Stores, the biggest supermarket chain in the U.S. Though the Hafts have the retailing expertise to enter the grocery business, some Wall Streeters think that the raiders once again intend to pass through the express checkout line to a quick profit. They already own 5.9% of Safeway's shares, which they bought earlier this year at an average price of about $42 a share. Since Safeway stock rose last week...