Word: internorth
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Corporate executives, however, have been anything but cautious. Beginning with a spate of billion-dollar oil-company buyouts in 1981, the merger wave has rolled over virtually every industry. This year alone, acquisitions have produced the largest U.S. gas distributor (Internorth-Houston Natural Gas), a medical giant (Baxter Travenol-American Hospital Supply), a vast food-processing concern (Nestlé-Carnation) and one of the mightiest high-technology combinations (Allied-Signal). Last week even brought a proposed sports marriage between the New Jersey Generals and the Houston Gamblers of the U.S. Football League. The number of megadeals this year could wind...
...conglomerate, including USX, Maxus and Amcor. USX was chosen before the manufacturer discovered that the name had already been adopted by USX Telecenters, a California-based distributor of telephone systems, which subsequently filed a $50 million trademark-infringement lawsuit against the steel company. After Houston Natural Gas merged with InterNorth in July 1985, Lippincott & Margulies, a New York City-based firm, came up with the name Enteron. As it happened, enteron is another word for the human digestive system. Randal Blauvelt, a spokesman for the new company, recalls that the coincidence was especially unfortunate for a manufacturer of natural...
...been responsible for nearly three-quarters of all stock gains since January 1984. Acquisitions have raised the value of target companies' shares an average of 30%. In one mighty leap, stock of Houston Natural Gas jumped from $46.865 to $67.125 in two days last May after an announcement that InterNorth was acquiring the pipeline company...
...company's mammoth pipes will cover 37,000 miles, stretching from Canada to Texas, from California to Florida. InterNorth of Omaha announced last week that it would buy Houston Natural Gas for $2.26 billion in a friendly transaction that will create the longest natural gas pipeline system in the U.S. The combined network will deliver roughly 9% of the gas consumed...
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