Word: icahn
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...Chairman Carl Icahn, 50, the Manhattan-based corporate raider currently involved in an $8 billion takeover bid for Pittsburgh-based USX. The Washington Post last week quoted unnamed sources to the effect that Icahn and Boesky, who in 1985 owned more than 5% of Gulf & Western's stock, had collaborated to run up the price of those shares by fueling rumors that the company would be a takeover target. The two then sold their shares back to Gulf & Western for a profit. That ploy would have amounted to illegal stock manipulation. In a memorandum to his TWA staff, Icahn denounced...
...themselves. One sign of that is the phenomenal growth of the so-called junk-bond market, a $100 billion pool of high-risk, high- interest securities that have backed such takeover bids as Atlanta Broadcaster Ted Turner's $5 billion failed attempt to buy out CBS and Carl Icahn's successful $300 million takeover of TWA. The creation of such huge war chests for the use of takeover artists, among others, has heightened merger activity...
...today's big dealmakers operate with the high profile of a T. Boone Pickens or a Carl Icahn. Case in point: Kohlberg Kravis Roberts, a clannish, almost obsessively reclusive investment-banking firm that often determines the fate of giant corporations. Kohlberg Kravis is Wall Street's master of a generally friendly form of takeover, the leveraged buyout. In an LBO, a small group of investors buys a company's stock with mostly borrowed money and takes the corporation private. Last week Kohlberg Kravis and a group of outside investors announced that they would do an LBO of the largest...
This strike concerns a principle of critical importance for all working women--equal pay for comparable worth. Carl Icahn, president of TWA, has attempted to justify these cuts with the myth that women deserve less pay because they are not the "primary bread winners" for their families...
...settlement of $300 million. New York Yankees Owner George Steinbrenner aimed RICO against investment partners whom he charged with selling him their interests in a joint venture without informing him of all necessary facts. Dubious charges of racketeering are especially common in takeover attempts. When Corporate Raider Carl Icahn moved in on Dan River Inc. in 1982, the company tried to fend him off with a RICO suit. A business-world hardballer Icahn may be, but a racketeer? A federal appeals court refused to allow it. "RICO has a life of its own," says Illinois Federal Judge Milton Shadur disapprovingly...