Word: mergers
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Dates: during 1980-1989
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...executives who bought Nu-kote also felt ignored by their corporate parent. After the 1986 merger of the Burroughs and Sperry computer companies that produced Unisys, corporate headquarters decreed in a confidential memo that "ancillary" units would be put on the auction block. Reinhold Tischler, then president of the Nu-kote division, called his boss and said, "Ancillary division reporting in. We'd like to buy it." On Jan. 16, 1987 -- Tischler calls it Independence Day -- he and 20 other managers bought Nu-kote for $60 million. After they eliminated several aging product lines, overall sales grew 17% last year...
...Nabisco bombshell broke three days after Philip Morris offered $11.5 billion to buy Kraft. That merger, if consummated, would create the world's largest consumer-goods company: Philip Morris' Marlboro cigarettes, Maxwell House coffee and Miller beer would move into the same corporate basket as Kraft's Velveeta cheese, Parkay margarine and Breyers ice cream...
...megabids were the most startling manifestations of a fresh outbreak of merger mania. So far this year, 4,813 mergers and acquisitions, worth $366 billion, have been launched or completed. That compares with 4,082 transactions, valued at $249 billion, during the same period last year. As daily stock-trading volumes languish at a fraction of their bull-market highs, and small investors seem a vanishing breed, mergers and acquisitions provide the only excitement around...
...acquisition would bring that level down to 39%. Moreover, Kraft has products like Miracle Whip and Philadelphia Brand cream cheese that have taken up permanent residence in * American refrigerators. Since Kraft products do not compete with those made by Philip Morris' General Foods subsidiary, Philip Morris argues that the merger would pose no antitrust problems...
Loopholes in the campaign reform laws have helped business donors make the 1988 election the most free- spending in history. -- A new wave of merger mania...