Word: matsushita
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...quintessential Washington insider has accomplished what other lawyers only dream of doing. In an unusual -- but perfectly legal -- arrangement, Strauss advised both MCA and Matsushita on certain matters during the recent $6 billion takeover negotiations. His fee: more than $8 million...
Finally, while Americans may gripe about the foreign takeovers of Hollywood's dream machines, none of the buyouts have been hostile. Far from sneaking into Hollywood, both Sony and Matsushita were squired around by superagent Michael Ovitz, the homegrown power broker. All of which brings to mind a scene in the 1978 film Heaven Can Wait in which the fictional owner of the Los Angeles Rams decries the abrupt takeover of the team by a fancy-pants financier. "The s.o.b. got my team," he moans. But how did the sneaky businessman do it? Says the team owner: "I asked...
...despite the danger to oil supplies, critical for a country that imports virtually all its crude, the public considers the gulf too far away to be a threat. Japan has pledged $4 billion to the coalition -- an amount that, U.S. critics note, is far less than the $6 billion Matsushita paid last week to acquire...
What effect will Matsushita's takeover of MCA have on American entertainment? -- Superagent Michael Ovitz arranged the marriage. -- Meet one of Saddam's favorite arms dealers...
Last week's $6.1 billion purchase of MCA by Matsushita Electric was the largest Japanese acquisition of a U.S. firm so far. But Japan still lags far behind Britain as the biggest foreign investor in the U.S. economy. As of June, the value of foreign-owned businesses and real estate in the U.S. totaled just $411.3 billion; congressional researchers estimate that non- Americans own about 5% of all U.S. assets...