Word: mergers
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Dates: during 1980-1989
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...department was established in 1968 through a merger of the Department of Architectural Sciences and a then fledgling program in the visual arts. But many feel that the department has not received the recognition and respect it deserves from University Hall administrators. "The University doesn't take [VES] seriously," says Associate Professor Jane B. Tuckerman. "They don't take studio art as a serious discipline for the future lives of young people. We're the black sheep of the University...
...after the Radcliffe crew program started, the alumni organization inaugurated the tradition of joint dinners for men and women. The final step of the merger occurred when the first woman was elected to the managing committee...
Last week Burroughs made a fresh merger proposal, offering $4.1 billion in cash and stock, and once again Sperry's board of directors refused to respond. Burroughs became impatient after two days and took its $70-a-share pitch directly to Sperry stockholders, thus escalating the offer to a hostile bid. Shareholders will have until June 5 to decide whether to sell, but Burroughs hopes Sperry's management will go along peacefully before then. Says Burroughs Chairman W. Michael Blumenthal: "The logic of the merger is so clear that I am hopeful they will realize...
Needham ($847 million) is the smallest of the three, but it brings a strong domestic network to the merger. Some industry wags saw a resemblance between Needham's role in the deal and its Wheaties ads, in which pint-size Olympic Gold Medalist Mary Lou Retton gulps down cereal with the "big boys." Doyle Dane Bernbach ($1.7 billion) has the most to gain. After scoring numerous hits over the years with ads for longtime client Volkswagen, the agency attracted notice with its beguiling babies series for Michelin tires. But DDB lost several major clients in 1985, dropping $45 million...
...Merger mania sweeps Madison Avenue...