Word: mergers
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Dates: during 1980-1989
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...talks, which deal with medium-range missiles in Europe, if the Soviet Union proposed such a move. The next day, however, Richard Burt, the Assistant Secretary of State for European Affairs, dampened hopes by saying that the U.S. had no plans for either the "tradeoff" or the arms-talk merger. Soviet rhetoric also mixed bombast and hints of accommodation...
While insisting that "the imperialist" U.S. is "the main threat to peace," Soviet Foreign Minister Andrei Gromyko obliquely indicated that the Soviets might be willing to go along with a merger of START and INF talks. Such a step would allow the Soviets to slide around their vow not to resume INF talks as long as the U.S. was deploying Pershing II missiles in Western Europe. An even more promising feeler came from an unnamed "high-ranking Soviet official," widely assumed to be Soviet Ambassador Anatoli Dobrynin, who suggested to the Boston Globe that the two powers seek a quick...
Lynn Williams, acting president of the United Steelworkers, chided U.S. Steel for using money to buy up-to-date facilities instead of improving its own. The union is worried that the merger will further erode its membership, now down to 250,000 from a postwar peak...
Companies currently being sought in the merger sweepstakes include many well-known names. Among them is Faberge, a cosmetics and fragrance firm that has become the object of a lively bidding war. McGregor Corp., a men's and boys' clothing maker, is offering $32 a share for Faberge, or $2 more than has so far been bid by anyone else. If the McGregor proposal succeeds, Faberge would become part of Meshulam Riklis's Rapid-American empire, which owns majority control of McGregor. Merger mania has had prospective targets searching for effective defenders (see box), and has inspired...
Experts note that reserve-rich oil and gas producers like Phillips Petroleum (estimated 1983 revenues: $15.3 billion) and Sun Co. ($15.5 billion) are among the most attractive merger prospects. Reason: big oil firms can acquire energy reserves through mergers far more cheaply than they can find and develop them...