Word: merger
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Dates: during 1980-1989
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Texaco has sought relief in the courts ever since a Texas jury ordered the company to pay the fine to Pennzoil in 1985. The jury held that Texaco had illegally enticed Getty Oil to break a merger agreement with Pennzoil. Last April, facing a deadline to post bond for the judgment, Texaco became the largest firm in U.S. history to file for bankruptcy protection. Texaco had offered Pennzoil some $2 billion as a settlement; Pennzoil demanded more than $4 billion. Pennzoil's price reportedly has now risen to $6 billion...
Securities firms outside Wall Street also felt mortal pain. In Grand Rapids, H.B. Shaine & Co., a regional brokerage with 107 employees, wound up in a merger after Monday's debacle pushed it into bankruptcy. The 4,500 accounts of the New York Stock Exchange member were taken over by Rodman & Renshaw, a Chicago firm...
...program attempts to combine the most effective aspects of the classical, more lecture-based curriculum and the small-group, problem-based New Pathways approach. The merger is being interpreted differently among the faculty; some professors see in the new prog...
...years is long enough for an engagement. It's time for wedding bells." So said the leader of Britain's Liberal Party, David Steel, in July as he pressed for a formal merger of the Liberals and the centrist Social Democratic Party. The two political groups, which won only 22 of 650 parliamentary seats in last spring's British general election, have since 1981 formed a carefully calibrated alliance, wedged between Prime Minister Margaret Thatcher's Conservatives and the union-backed Labor Party. Last week, after a tally of ballots mailed to the S.D.P.'s more than 58,000 members...
...marriage banns also led to a divorce. S.D.P. Leader David Owen, who had helped found the party as a breakaway movement from Labor, had opposed the merger, citing basic differences on defense policy. Last week he made good on a threat to resign. Steel called that "logical," while decrying Owen's opposition as "profoundly mistaken...