Word: merger
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Dates: during 1980-1989
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...first Monday in 1985, TIME Business Editor George M. Taber met with Associate Editor John Greenwald to discuss a proposed cover story on T. Boone Pickens. The Texas oilman had engineered many of the mergers and takeovers that were reshaping American business. For the purposes of the cover, TIME's Business section decided on a merger of its own, teaming Greenwald with Frederick Ungeheuer, the magazine's senior correspondent for business and financial affairs. Their cover story appeared two months later, but it turned out that their work had just begun...
...London stock market is starting to look a lot like Wall Street. 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...
...name? If the name has a familiar ring to it, like Jell-O and Oreo or NyQuil and Clearasil, it can be worth millions of dollars. Companies that sell household products with well-known brand names have become the hottest targets in the latest round of merger wars. Last week two big packaged-goods firms--Richardson-Vicks and Revlon--escaped hostile takeovers, but only by rushing into the arms of other suitors...
...offer, thinking they could get even more for the company and fearing Unilever's reputation for trimming the management ranks of firms it acquires. Unilever upped its bid to $60 a share, but Richardson-Vicks still put out a plea for a "white knight" to make a friendly merger bid. Procter & Gamble, the Cincinnati-based detergent and disposable-diaper king, and Pfizer, a New York pharmaceutical firm, rode to the rescue with identical $69-a-share offers. P & G reportedly won the deal because its lawyers got the paperwork done faster...
That complex merger calls for Forstmann to sell Revlon's beauty-products business to Adler & Shaykin, another New York investment firm, for about $900 million. Forstmann will spin off several other Revlon units to New York-based American Home Products for an estimated $350 million. The transactions will leave Forstmann with the rest of Revlon's health-care business, including prescription drugs and contact lenses...