Word: mergers
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Dates: during 1980-1989
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...York Stock Exchange, abuzz for the past few years with big consolidations in oil, steel and transportation, the reaction was swift and positive. Investors sensed that a new rush was developing toward stocks of communications companies, portending more big mergers and fast price rises. ABC stock shot up $31, to nearly $106, and issues of some other companies in the field also climbed sharply. At week's end CBS had gained 20 1/4, to 108 3/ 4, and RCA, parent of NBC, had risen 4 7/8, to 42 7/8. Newspaper publishers Gannett and Knight-Ridder were...
Last Sunday, over a late dinner at New York City's Plaza hotel, Pierce and Goldenson briefed ABC's division presidents about the impending merger. The next morning, the word went out to two dozen other top management people, and finally the deal was revealed. Up until the formal announcement, Murphy and Goldenson had insisted that the proposed merger be kept a secret in order to prevent premature speculation in ABC's stock. Said Goldenson: "We were fortunate that there were no leaks...
Each whole warrant would entitle the holder to purchase one share of Capital Cities, common stock at $250 a share for a period of 24 years from the merger For a period of 90 days following the merger, holders of warrants would have the right to sell the warrants to Capital Cities for $30 each...
...prosecutor's allegations that in 1982, while chairman of the Dallas-based LTV Corp. and a director of four other companies, he passed confidential information to Harris on Anheuser- Busch's $560 million acquisition of Campbell Taggart, a Dallas food conglomerate. Thayer also allegedly tipped Harris to two other merger deals. The inside dope netted $1.9 million in illegal profits for Harris along with Thayer's onetime companion Sandra Ryno, a former receptionist at LTV, and six other Thayer friends. Ryno gave the Government incriminating information against her friends and was not charged. Although prosecutors will recommend leniency, Thayer...
...measures that a company uses to fend off a would-be acquirer, or shark. Typical repellents include changes in a firm's bylaws to make it extremely difficult for an unwanted suitor to gain control. Among the most popular in recent years has been a requirement that a merger must be approved by at least 75% of the shareholders before it can take effect...