Word: icahn
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...average of $37 a share this year, many Wall Streeters applauded his gutsy vote of confidence in the bankrupt oil giant's chances for recovery. But after the October stock crash, Holmes a Court faced a severe cash squeeze. Sensing a distress sale, another renowned raider, TWA Chairman Carl Icahn, entered the picture last week. TWA bought about half of Holmes a Court's stake in Texaco for $348 million, or just $29 a share. The Australian's loss so far on his ill-timed oil-patch foray: some $100 million...
...Trans World Airlines is trying to fend off a takeover by Carl Icahn. The beleaguered company petitions the Transportation Department to hold a hearing that would delay Icahn's bid, but it looks like the request will be turned down. Searching for other options, TWA needs to buy time -- and influence. Enter former White House Deputy Chief of Staff Michael Deaver. That very month Deaver has left Ronald Reagan's employ to start a Washington "consulting" firm. According to Jon Ash, a former TWA executive, Deaver says, "I can give ((Transportation Secretary)) Elizabeth Dole a call." Deaver...
...scandal isn't what's illegal; the scandal is what's legal." The practices revealed at the Deaver trial not only taint former officials who peddle their connections but also raise questions about the ethics of corporate America. Besides, they are often wasteful: TWA could not withstand the Icahn takeover...
...store chain when the target company's shares fell to $30. Hong Kong-based Jardine Strategic Holdings called off a $390 million bid to buy a 20% interest in Bear Stearns when shares of the Wall Street firm plummeted from $23 to $12. The crash ended TWA Chairman Carl Icahn's effort to take the airline private by offering to pay $45 apiece for shares that ended up dropping to $14 the day after the crash. Said he: "I'm sitting on the sidelines...
...traffic rose another 15% or so. Wall Street analysts expect the 22 major U.S. carriers to earn operating profits of as much as $3.5 billion this year, far exceeding the previous record of $2.4 billion in 1984. Even TWA, a perennially struggling carrier now run by Corporate Raider Carl Icahn, is expected to enjoy a banner year. "The airlines are living in the best of all possible worlds," declares John Pincavage, who follows the industry for the Paine Webber Group investment firm...