Word: mca
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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...
King Kong was roaring after last week's announcement. Matsushita has some $16 billion in cash but plans to borrow much of the MCA purchase cost, which leaves the company with cash to buy up more properties at distressed prices. Said David Geffen, the music mogul whose 10 million shares of MCA stock were suddenly worth some $660 million, nearly twice their value three months ago: "This will be the most acquisition-minded company in the world...
...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 MCA...
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...