Word: forstmann
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...committee of the company's directors responded to Johnson's proposal on Nov. 7 by opening the bidding for RJR to all comers, setting last Friday as the deadline. Two days before the auction closed, one potential bidder, the Manhattan investment firm Forstmann Little, scrapped its planned offer. Forstmann's departure left two contenders: the RJR management group, which had upped its offer to $21 billion ($92 a share), and the investment firm Kohlberg Kravis Roberts, with its bid of $20.6 billion ($90). RJR's board could take as long as several weeks to study all new offers, including revised...
...Wall Street's Shearson Lehman Hutton and Salomon Brothers, raised their bid from $17.6 billion to $21 billion, topping the rival offer of $20.6 billion from Kohlberg Kravis Roberts, the high-flying leveraged-buyout firm. Now the two sides may be getting new competition. At week's end Forstmann Little, a Manhattan investment firm, said it might make an even higher bid for RJR Nabisco, backed by Procter & Gamble and other large corporate investors...
Last week, in a corporate-style engagement, Coca-Cola agreed to buy Dr Pepper (1985 profits: $60.6 million) from Forstmann Little, a New York-based investment banking firm, for $470 million. The deal is a retaliatory salvo in an ongoing soft- drink war. Only five weeks ago, PepsiCo announced that it was buying Seven-Up for $380 million. That takeover will give Pepsi about 34% of the $30 billion soft-drink market. By acquiring Dr Pepper, Coke will increase its industry-leading share...
...been fighting off the advances of Pantry Pride, a Fort Lauderdale-based retail chain whose stores are mostly in the Southeast. Pantry Pride initially offered $47.50 a share and eventually $53, but Revlon Chairman Michel Bergerac landed a $56-a-share bid, for a total of $1.7 billion, from Forstmann Little, a New York investment firm...
That complex merger calls for Forstmann to sell Revlon's beauty-products business to Adler & Shaykin, another New York investment firm, for about $900 million. Forstmann will spin off several other Revlon units to New York-based American Home Products for an estimated $350 million. The transactions will leave Forstmann with the rest of Revlon's health-care business, including prescription drugs and contact lenses...