Word: daytons
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Though many expected the company to throw in the towel, AT&T stunned Wall Street last week by proposing the biggest acquisition in the brief history of the computer industry, offering to buy Dayton-based computer maker NCR for $6 billion. When NCR rejected the initial, friendly offer, its suitor shocked the business world once more by launching a hostile takeover attempt. In a face- to-face showdown with AT&T's board members in New York City, NCR management vowed to resist. But industry analysts generally believe that the big telecommunications firm will ultimately prevail, strengthening...
Early indications are that consumers this season are shopping carefully for value. Says Kenneth Macke, chairman of Dayton Hudson (1989 sales: $13.6 billion): "The customers are going to make sure they get their money's worth. We think that things like purses, gloves, shaker sweaters, turtlenecks and espresso machines are going to be very good. I don't think this is the year when we want to be in space-age TV sets that float on the ceiling...
...avoided facing any criminal charges over his 1988 self-directed sex video co-starring an Atlanta teenager by agreeing to spend 20 hours speaking to inmates in his hometown of Dayton. On a trip there last September, he met with Rose...
...retail industry beset by sluggish sales, Dayton Hudson has been a - star performer. Profits of the Minneapolis-based company, whose 666 stores include Dayton's, Hudson's, Mervyn's and the Target discount chain, rose 43% last year, to a record $410 million. In its boldest expansion yet, the company said last week it would acquire Chicago-based Marshall Field's, a premier retailer, for $1.04 billion from London's B.A.T. Industries. B.A.T., which is battling a takeover attempt by Sir James Goldsmith, will use proceeds from the sale to buy back part of its stock...
...Dayton Hudson's acquisition of the 138-year-old Marshall Field's, which earned $90 million before taxes in 1989, would create a new regional stronghold. Already the leading department-store operator in Minneapolis and Detroit, Dayton Hudson would become the largest in the Windy City as well by taking over Marshall Field's 24 stores, including 13 in the Chicago area...