Word: mergers
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Dates: during 1980-1989
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...another arena of Middle Eastern affairs, a curious courtship was taking place between Libya and Syria. On the occasion of the eleventh anniversary of his country's revolution, Libyan Strongman Muammar Gaddafi unexpectedly proposed an "immediate" merger with Syria. Equally unexpected was the almost instantaneous reply of Syrian President Hafez Assad: "We extend our arm to meet with yours in unity." Syria is at loggerheads with two of its Arab neighbors, Iraq and Jordan, and is desperately short of cash, so a union with Libya might conceivably work to its benefit. But such merger proposals, offered in the name...
Earlier this year Iceland's government gave the company a $5 million loan in the hope that the vacation season would get Icelandair aloft again. But the tourists did not return. The company also attempted a merger with Lux-air, Luxembourg's airline. That also failed to take off. Now Icelandair is negotiating to sell its elderly Boeing 727s to Yugoslavia, and it has leased its DC-10 to Air Florida. Like the flower children it once served, Icelandair is left mostly with memories...
DIED. James S. McDonnell, 81, founder and chairman of McDonnell Aircraft, which, through a 1967 merger, became McDonnell Douglas, one of the nation's largest defense contractors; following a stroke; in St. Louis. "Old Mac," who called himself a "practicing Scotsman," guided his firm in the 1950s and '60s to manufacture the Mercury and Gemini Space Capsules and F-4 Phantom II fighters used in Viet Nam. In the late 1970s, however, design flaws in the Douglas group's DC-10 commercial jets were blamed for several crashes, precipitating lawsuits and costly losses of civilian and military...
...operation would have done credit to Her Majesty's Secret Service. After four weeks of top-secret negotiations, two of Great Britain's most illustrious engineering companies, Rolls-Royce and Vickers, last week announced plans for a merger that was expected to create a company with annual sales of $1.3 billion. Like any good covert operation, the deal had a code name: War and Peace. The Tolstoyan title was appropriate. Vickers Ltd., code-named War, produced the Spitfire, which helped win the Battle of Britain. Rolls-Royce Motors, nicknamed Peace, has been building the world's most...
...pack. So far, Blue Ribbon has grown on the strength of reinvested profits with some limited outside backing, but in the near future it could be forced to go public or merge with a larger firm. Levi Strauss is rumored to be one possible partner; such a merger would complete Levi's mastery over the youthful wardrod of blue jeans and running shoes...