Word: mergers
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...obstacles will require some bounding over. Levin has incurred the legal wrath of financial partner U S West. The Colorado-based Baby Bell, which owns a 25.5% stake in Time Warner's film and cable holdings, filed a lawsuit in Delaware chancery court last week to block the merger. The phone company, which paid $2.5 billion for its partnership interest in 1993, has for months been in stalled talks with Time Warner, which wants to restructure the terms in order to split the cable from the content companies. U S West claims it has veto power over the merger with...
...petulance during the negotiation of the deal became such a problem that Levin took him to lunch during the week after Labor Day and told Fuchs to start talking the company line or get out. At a separate meeting with board members, Levin told them that if the Turner merger had not been the main topic on the agenda this week, he would have wanted to discuss with them what to do about Fuchs...
...make the merger work, Levin says he has adopted a new management philosophy that he hopes will bring greater cooperation among the princes of his realm. Says he: "With Time and Warner, I thought we'd get more mileage out of running businesses separately. But with the Turner transaction, things have changed dramatically. We'll make things happen together. Ted didn't win the America's Cup without being a team player." Turner, whose personal fortune is estimated at $1.7 billion, will be handsomely rewarded by his new employer. In addition to receiving options for 1 million shares of Time...
...shareholder who expresses little worry is Malone; he insists the benefits of the merger could push the price of Time Warner to $80 a share. He claims to be patient about that, though skeptics think he could become restless and demanding if the trend does not materialize. Turner last week was entertaining no such second thoughts. "Now I'm Ted Time Warner," he declared. "Hey, let's get the cash flow up, the stock price up, and live together happily ever after." Wall Street, however, will have the final word...
...Porter, a professor at Harvard Business School: "Everyone knew at the time NCR was a third- or fourth-rate computer company, but somehow AT&T thought they could put it together and there'd be all this synergy." Charles Exley, who quit as NCR's CEO the day the merger took effect, chose not to crow about the results of Allen's folly. Says Exley, who now sails the world on his yacht: "Perhaps now NCR can go about its business once again...