Word: merger
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Dates: during 1980-1989
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...There is no merger," Burr said. "McLean will be operated exactly the same as before. It will remain non-profit and remain under the control of the same trustees...
...familiar stagecoach symbol, scooped up some glittering gold dust when it agreed to pay Britain's Midland Bank $1.08 billion for Crocker National, another San Francisco bank. If the deal goes through, the combination of Wells Fargo (1985 assets: $29.4 billion) and Crocker will be the largest banking merger in U.S. history. The agreement ended six months of secret negotiations between Wells Fargo and Midland executives. No one at Crocker had known that a deal was in the works...
...does not take a great deal of skill, however, to do so in today's - deregulated skies, where profit margins keep growing slimmer and the competition keeps getting tougher. To survive, several airlines have been seeking merger partners. Only last year, after an earlier brush with default, Eastern discussed the possibility of a merger with...
...events that inspired Pennzoil's suit began on Jan. 1, 1984, when Pennzoil's Liedtke and Getty Oil Scion Gordon Getty shook hands on a merger. Pennzoil agreed to pay $5.4 billion, or $110 a share, to buy 43% of Getty. The remaining 57% was to stay in Getty family hands. The two companies announced the merger to the press, signed a memorandum of agreement, even had a champagne toast. But before the paper work was completed, Texaco Chairman John McKinley approached Getty with an offer worth $10.2 billion, or $125 a share, for the entire company...
Although Getty, not Texaco, was the Indian giver, he was not sued because Texaco in the merger contract agreed to assume liability for any legal actions arising from the purchase. Pennzoil's lawyers argued that Texaco must have known it was doing something wrong to offer such an inducement to Getty. Said Pennzoil Attorney Jamail: "Texaco purchased this lawsuit when they wrote insurance policies for the Getty people...