Word: goldsmiths
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Smith Barney, another blue-chip investment firm, started its own brouhaha by suing Goodyear Tire and Rubber and Sir James Goldsmith. To stop a takeover bid by Goldsmith last month, Goodyear agreed to buy back the raider's 12.6 million shares of the company for $52.50 apiece, nearly a 22% premium over their market value of $43. Such buyouts at a premium not available to other shareholders are known as greenmail...
...suit, Smith Barney claims that Goodyear Chairman Robert Mercer and Goldsmith made misleading public statements before their agreement was announced, implying that they would not reach a greenmail settlement. Smith Barney, which had paid more than $47 each for nearly 1.3 million shares of Goodyear, expecting a price spurt during the takeover struggle, took a paper loss of $17 million when the value of the stock flattened overnight. In addition to Smith Barney's action, six other lawsuits have been filed by Goodyear shareholders. They want the same price for their shares that Goldsmith...
...James Goldsmith, 53, the Anglo-French raider, abruptly ended his 2 1/2- week siege of Goodyear Tire & Rubber, the Akron manufacturer, after being grilled before the House Subcommittee on Monopolies and Commercial Law in Washington. "My question is: Who the hell are you?" said Ohio Democrat John Seiberling, whose family founded Goodyear. Goldsmith's sharp retort was that he represented the "rough, tough world of competition . . . a world in which you run a business as a business and not as an institution." But the aggressive tycoon, who owned 11.5% of Goodyear's stock and had offered $4.7 billion...
...corporate raiders and many economists, who argue that takeovers and mergers help to make businesses more efficient. The threat of a takeover can be an effective way of dislodging inept managers. To Carl Icahn, the typical chief executive is merely "a nice guy, a good drinking buddy." Sir James Goldsmith, a feared acquisitor who gained control of the Crown Zellerbach paper company last summer, told Congress that he has freed firms from "the dead hand of the bureaucrat" who produced only "complacency, ossification and decline...
...Goldsmith, who dropped in at the late-night haven after returning from a date at 2:30 a.m., said that he planned to stock up before writing a paper due at noon the next...