Word: mergers
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Dates: during 1990-1999
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Boeing, the nation's largest commercial aircraft manufacturer, is talking merger with McDonnell Douglas, the leading builder of military aircraft, according to the Wall Street Journal. The firms have combined sales of some $35 billion. Industry analysts say a full merger is unlikely, in part because the combined entity could have a large enough share of the world market to face an anti-trust challenge. But consolidation could occur in their defense operations, where Boeing wants an increased presence and McDonnell Douglas seeks to reduce costs in an era of reduced defense spending. "McDonnell has been hit hard by defense...
Graduate board members even spoke of a possible merger with the Delphic, another final club, to help defray costs, members said. D.U. members, however, say the merger is unlikely, citing hesitance on the part of the Delphic. Delphic officials refused to comment...
...Flaherty--pointing to the recent proposed mega-merger of Chase Manhattan and Chemical banks, which will result in the loss of 12,000 jobs--said Weld and the Legislature have made great strides in the last five years to make the state's climate more business-friendly...
JOHN MALONE HATES IT THAT SOME PEOPLE THINK OF HIM AS A BOARDROOM bandit. The country's most powerful cable operator--whose 21% stake in Turner Broadcasting gave him potential veto power over last week's big merger--has been variously described as Darth Vader, Andrew Carnegie and Genghis Khan. Such comparisons, says Malone, have him all wrong. He's shocked, shocked by reports that he held up the merger--first by insisting that Time Warner do away with its "poison pill" takeover defense, then by demanding seats on the board--until he had squeezed all the juice he could...
...this a vote of confidence or something darker? "What John Malone giveth, John Malone can taketh away," says Porter Bibb, a media-investment banker at Ladenburg, Thalmann who has been a frequent critic of Levin's. Bibb believes that Malone saw the merger as an avenue to power. "Levin is now a puppet on Malone's strings. Malone is never going to be CEO of Time Warner. He'll probably never sit on the board. But he wanted to control Levin, and now he does." A scenario even has Malone divesting some cable interests, getting back his voting stock...