Word: kuwaiti
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Dates: during 1980-1989
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...Kuwaiti bid once again raised the question of just how much OPEC money is being invested in U.S. industry and whether the infusions of funds are good or bad for the businesses involved and for the U.S. as a whole. As soon as the Kuwaiti proposal was announced, New York Democrat Benjamin Rosenthal, chairman of the House Subcommittee on Commerce, Consumer and Monetary Affairs, which has been holding hearings on the scope of OPEC investment in the U.S., asked the Treasury to halt the takeover pending an investigation of whether the merger is really in the national interest...
...market value, the right to buy or sell a quantity of stock at a fixed price within a specified period, usually anywhere from a few hours to nine months. The heavy volume of transactions in Santa Fe options suggested that investors with prior knowledge of the pending Kuwaiti offer were buying in anticipation of an eventual hefty price rise in the stock. When the takeover was announced, the price of Santa Fe common stock jumped 17 points in a single day, to $42.38 a share, automatically driving up the value of the options as well...
...cashed in on the deal, the acquisition should be beneficial for both Santa Fe and Kuwait. Though it has grown at a compound annual rate of nearly 23% since 1950, Santa Fe in recent years has been forced to invest larger and larger amounts of capital to keep expanding. Kuwaiti ownership would give the firm the financial clout to broaden its presence in such lucrative markets as the British North Sea, where it holds a 16% interest in the Thistle Field...
...have sabotaged the plane, both the government and Mujahedin leaders believed the crash was most likely an accident. Only days earlier, Iran had claimed its "biggest victory" in the year-long border conflict when its forces broke the Iraqi siege of Abadan, a key oil-refining center. Later, the Kuwaiti government protested that Iranian jets had attacked an oil installation in Kuwait. The Iranians denied the charge, but in Washington, Secretary of State Alexander Haig confirmed that U.S.-manned AWACS reconnaissance planes flying above Saudi Arabia had spotted the Iranian fighters as they set off on their mission...
...Sheik Salem Abdullah Al-Ahmed Al-Sabah, Kuwait's director of U.S. investments. "If you do not do it our way," he wrote to the bank in December, "we'll transfer the funds. There are lots of good banks who want a chance to help us." The Kuwaiti government became more disturbed with Citibank when some confidential memos and the lists of its holdings were leaked to Financial Writer Dan Dorfman. In retaliation, Kuwait last month transferred the $4 billion stock portfolio, which earns a $4 million-a-year management fee, from Citibank to Morgan Stanley Asset Management...