Word: mergers
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Dates: during 1980-1989
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Each week seemed to bring news of still more blockbuster deals: the General Motors-Hughes Aircraft merger and the Allied-Signal and Capital Cities Communications-ABC takeovers to cite a few. In April and again in August, the journalistic combine of Greenwald and Ungeheuer churned out major stories analyzing the accelerating merger trend...
Last week merger mania struck again. Greenwald and Ungeheuer teamed up with New York Correspondent Thomas McCarroll on our late-breaking cover story assessing the latest developments, as signified by the General Electric-RCA marriage, the biggest ever outside the oil industry. Says Business Editor Taber, who supervised this issue's story: "We are witnessing the remaking of the American business landscape. The results of merger fever will be felt for years...
...world of high finance, where an elite group of Wall Street dealmakers commands million-dollar fees for putting together megadollar agreements, Felix Rohatyn is the first among equals. As a senior partner at Lazard Freres, a New York investment-banking firm, he has presided over hundreds of mergers and acquisitions. In October, General Electric Chairman John Welch and RCA Chairman Thornton Bradshaw started talking about a merger over drinks at Rohatyn's Manhattan apartment...
...built the company into one of the first powerful conglomerates and the ninth-largest industrial firm in the U.S. at the time. The ITT-Rohatyn deals included Continental Baking, maker of Hostess cakes, and Avis. In recent years Rohatyn's handiwork could be found in the Allied-Signal merger and the acquisition of Electronic Data Systems by General Motors. "Felix the Fixer" they called him on Wall Street...
...these historic titans of technology are planning a reunion that will form the seventh-largest industrial company in the U.S., with annual revenues of $39 billion. The merger will combine two of the most famous names in corporate America, familiar to anyone who has ever bought a GE light bulb or an Elvis Presley hit on RCA records. By acquiring RCA, GE will strengthen its electronics and defense businesses and take over the NBC television and radio networks. Says GE Chairman John Welch, 50, who will head the combined companies: "We will have the technological capabilities, financial resources and global...