Word: interestingly
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Dates: during 1950-1959
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Counteroffer. Convinced that this was too little, Reynolds sent its General Counsel Joseph H. McConnell, onetime NBC and Colgate-Palmolive president, to London to work out a better counteroffer. McConnell got together with Tube, a moneymaker with interests ranging from bicycles to nucleonics, agreed to set up a new company to buy Aluminium. Tube would hold a 51% interest, so keep the new company nominally British; Reynolds would hold the other 49%. Tube-Reynolds asked Lord Portal to hold up the Alcoa deal, promised to pay his shareholders an "attractive" price, even promised to retain the Portal management...
Instead of investigating the offer to see if it was in the stockholders' interest, Portal signed a secret deal with Alcoa. He assured Alcoa that the only remaining problem-getting British Treasury approval of a deal involving a nonresident company-was certain to be decided favorably in a few days...
...London's City predicted that the Treasury would quickly approve the Tube-Reynolds takeover, Alcoa in Pittsburgh tersely gave notice that it had "no further interest" in the matter. Privately, Alcoa officials fumed that the Aluminium management had led them down the garden path by airily assuring Alcoa that Treasury approval was routine. The worst of it was that once Alcoa had signed the $8.40 agreement, it could not go into the market and offer more without making the $8.40 look bad. To top off Alcoa's unhappiness, its chief competitor had a major European affiliate; Alcoa...
...Sunday supplement, to John Hay Whitney, U.S. Ambassador to the Court of St. James's and controlling owner of the New York Herald Tribune, for $12 million, and by disposing of several other properties, Field raised the $18 million cash that Jack Knight asked for his 75% controlling interest in the News. Ultimately the buy will cost Field another $6,000,000. as minority stockholders, with some 120.000 shares, respond to his offer to buy them out at $50 a share-5 points over the market price. For this he gets an afternoon circulation...
Bone-Dry Wit. Born in a Hampshire parsonage in 1775, Jane Austen grew up in the world of the French and American Revolutions, and showed no trace of interest in either. The world of her six novels is simply and finally that of genteel young women gunning for husbands (she herself died a spinster at 41). Included inevitably in this world are harassed fathers and embattled moms, superfluous daughters and choosy suitors, haughty heiresses and dashing cads, all playing their parts in an endless round of dances, tea parties and chaperoned strolls, and doing their best never...