Word: hillings
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Dates: during 1970-1979
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...meeting was brief and cordial, and McGraw did not then answer. The next morning he said he was "negative" and asked stockholders to do nothing until the board meets this week to study the offer. The Amexco bid comes to $34 a McGraw-Hill share, a fat premium over the $26 market price just before the bid. But Harold McGraw, grandson of the company's founder and a man set in his ways, wants to keep the family in command...
...defending takeover targets or at least in forcing the bidder to raise the price. There were hints too that McGraw is shopping around for a "white knight," a buyer more to his taste. Not totally convincingly, American Broadcasting Co. denied reports that it had made an offer for McGraw-Hill...
Wall Streeters expect Amexco to win, though it probably will have to raise its bid above $40 a share. McGraw-Hill has prospered: between 1971 and 1977, earnings increased from $19.8 million to $51.4 million. But it has an image of unadventurous management, and the stock has declined from a high...
Some McGraw-Hill employees fear that a takeover would cramp their editorial independence, though it is hard to see how Amexco would be different from any management, including the present one. In any case, those fears have an ironic ring. In a mostly laudatory cover story on Robinson and American Express ("a cash machine"), Business Week advised in its Dec. 19, 1977, issue that Amexco's "best response" to new competition would be "to look for additional products for its affluent market, or to find other businesses that fit [its] specialized mold." Little did the staff guess that their...
What do Chase Manhattan Chairman David Rockefeller, McGraw-Hill Vice President Wesley Fraser and boardrooms full of other executives, male and female, have in common? Several times a week they pull on sneakers and sweatshirts to spend an hour or so in the company gym, puffing on a jogging track or pumping away on a stationary bicycle. Employer-sponsored exercise is fast becoming an integral part of the workaday world, as businesses recognize that their financial health can depend on the physical health of key employees as well as on the condition of plant and equipment...