Word: maker
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Dates: during 1980-1989
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...affair has revolved around two rival rescue bids for Westland, an ailing firm that is Britain's only helicopter maker. One came from a West European consortium of defense contractors, including British Aerospace; the other was made by Sikorsky, a division of the U.S. conglomerate United Technologies. Defense Minister Heseltine supported the European bid, arguing that it alone would keep helicopter technology in Britain. Thatcher maintained that she was neutral on the competing rescue plans, but Heseltine accused her of favoring the U.S. offer and resigned after an icy confrontation...
...helped ITT acquire Hartford Insurance for $2 billion. Throughout the 1960s Rohatyn worked with ITT Chief Executive Harold Geneen, who built the company into one of the first powerful conglomerates and the ninth-largest industrial firm in the U.S. at the time. The ITT-Rohatyn deals included Continental Baking, maker of Hostess cakes, and Avis. In recent years Rohatyn's handiwork could be found in the Allied-Signal merger and the acquisition of Electronic Data Systems by General Motors. "Felix the Fixer" they called him on Wall Street...
...possible takeover. In Houston, Texaco found itself fighting for its life after a judge affirmed that the third-largest U.S. oil producer would have to pay more than $11 billion in damages for derailing a 1984 merger between Pennzoil and Getty. And in New Jersey, GAF, a middle-size maker of chemicals and building materials, launched a $4 billion takeover bid for Union Carbide, saying that it would break up the much larger company and sell nearly half of its operations...
...Government last week fired a second salvo at General Dynamics (1984 sales: $7.8 billion), the maker of the Trident nuclear submarine and the F-16 fighter aircraft. The Navy announced that as a result of the conspiracy charges, the company will be temporarily suspended from obtaining new federal defense contracts, which generate more than 75% of General Dynamics' total revenues...
...Suddenly large takeovers are in flower. In New York it might seem almost child's play, but in Britain a billion-dollar merger or acquisition remains a remarkable event. Last week several behemoth-size deals were in the offing. Argyll, a supermarket chain, offered $2.8 billion to acquire Distillers, maker of Johnnie Walker Scotch and Gordon's gin, and Britain's General Electric bid $1.8 billion for Plessey, an electronics firm...