Word: darting
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...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...
...with headquarters in Zurich. Meier, who is accused of pocketing $152,000 from Levine's insider trades, was charged last week as an accomplice in the case. Their first transaction took place in May 1980, when Levine was an associate at Smith Barney. He bought 1,500 shares of Dart Industries and sold them less than two weeks later for a modest profit of $4,000, when Dart announced that it was merging with Kraft...
...most adventurous device, Bradford clothes Evett in green body make-up and transparent loincloth, and has him dart around the stage, sometimes quickly, sometimes stroking the air with slow-motion body gestures to create the impression of being lighter-than-air. The effect works; Evett manages to deliver some momentous dialogue with astonishing pungency, all the while balancing his taut figure in the pose of a Greek discus thrower...