Word: mergers
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Scott has begun a new job as financialadministrator for Partners Healthcare, Inc.---thecorporation created by the merger of the Brigham &Women's Hospital and Massachusetts GeneralHospital
...York, military contractor Grumman. Competing with Martin Marietta for the prize, Northrop agreed to pay $62 a share, or about $2.1 billion, for Grumman -- close to $170 million more than Martin Marietta, Grumman's original choice for a partner, was willing to fork over. Grumman had sought a merger to help ensure longevity in the shrinking military industry. Grumman agreed to pay Martin Marietta $50 million to forget their deal. And what will the employees of Grumman get? Most likely, layoffs...
While Green will reportedly remain in his postfor the rest of the academic year, Scott hasalready begun work on his new job as a financialadministrator for Partners Healthcare, Inc.--thenew company formed by the merger of the Brigham &Women's Hospital with Massachusetts GeneralHospital...
...silver-tongued Ross always extricated himself from dicey situations and moved on to the next play in a bigger game. The 1989 merger of Time Inc. and Warner was his triumph. Personally, he reaped $193 million in stock from the deal, and while, technically, Time was acquiring Warner, and Ross and Time chief Nick Nicholas were to be co-CEOs, Ross quietly maneuvered himself into supremacy by dazzling the board with promises of a rich future. He then orchestrated a coup in which the directors ousted Nicholas...
...while some people have lost their jobs, Wall Street has become richer. Thanks to record sales of everything from derivatives to new stock and bond issues to merger financing, the pretax profits of U.S. brokers and investment banks zoomed to an unprecedented $8.9 billion last year. "I see no reason why 1994 won't be better than 1993," exults Sanford Weil, chairman of Travelers Cos., which owns Smith Barney Shearson. "We're having a great time...