Word: mergers
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Dates: during 1980-1989
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...Jobs, has left his day-to-day duties to start a new company. Since February the company's stock has plummeted by one-third to close last week at 20 1/4. That has generated talk in the industry that Apple will become the target of a takeover attempt or merger bid, possibly by AT&T or Xerox...
...Uniroyal wrangle, company officers managed to fend off Icahn by attracting a friendly merger offer from a Wall Street investment firm, Clayton & Dubilier. The firm, which plans to raise $748 million for the deal, offered $22 a share, vs. Icahn's hostile bid of $18. Icahn, who amassed most of his 9% Uniroyal stake in April, withdrew his offer, promising not to increase his holdings for six months. It is not the first time Icahn has been foiled. He made an unsuccessful pass at Phillips Petroleum two months ago, and in the past has been fended off in raids...
...twin headaches. Many family counselors say their practices are now largely devoted to couples who cannot reconcile three often conflicting demands: his job, her job and their relationship. Says Patricia Kennedy, a psychologist in New York: "Marriage, or even living together, has become every bit as much a business merger as it is an emotional commitment." Says Donald Bloch, director of New York's Ackerman Institute for Family Therapy: "People are turning themselves into pretzels to deal with the problems...
...fighting off the interloper since December. The day after the Goldsmith proposal, Icahn said he would pay $305 million for 51% of Uni-royal, a tire and chemical manufacturer, which immediately spurned the deal. The moves were only the latest in an increasingly frenzied round of takeover brawls and mergers. Last month Capital Cities Communications agreed to pay $3.5 billion for the American Broadcasting Cos. in what was then the largest U.S. merger outside the oil industry. That record was topped two weeks later when Hospital Corp. of America and American Hospital Supply agreed to a $6.6 billion marriage. Meanwhile...
...latest merger wave has been the largest in U.S. history when measured in dollars. Inflation-adjusted figures in the Council of Economic Advisers' current annual report put the value of corporate combinations at $133 billion in 1984, vs. $112 billion in 1968, the previous peak year. While there were nearly twice as many mergers in 1968, the sizes of the transactions were much smaller...