Word: mergers
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...fight was a quintessential '90s struggle that reflected the merger mania sweeping the communications industry and the quest for films, TV shows and other programming to run on the much anticipated electronic superhighway. Companies now feel compelled to bulk up to colossal size to compete with giants like Time Warner or huge telephone-cable-TV combines like the proposed merger of Bell Atlantic and Tele-Communications...
...advisers who hunkered down to a Sunday-afternoon skull session in the well-appointed 49th-floor midtown- Manhattan offices of Robert Greenhill, the chairman of investment firm Smith Barney Shearson. Four days earlier, on Jan. 12, Paramount directors had spurned a sweetened Viacom bid and backed a $10 billion merger with Barry Diller's QVC home-shopping network. Unless Viacom came back fast and hard, everyone present knew, the fight would soon be over...
...scheme he said would blow away Diller. The novel plan called for issuing a type of security, called a contingent value right, CVR, or "collar," that would guarantee the value of Viacom's bid if Viacom stock failed to reach a certain price level within three years of the merger. The guarantee could cost Viacom an extra $1 billion or so under the worst scenario, but if the stock hit or surpassed the target, the collar would cost the company nothing...
...first logical step towardcooperation designed all along to eventually leadto a merger," Davis said. "There had been a numberof joint faculty meetings and a joint facultyretreat since then...
...Davis: Basically it was a garden-variety transaction. That's what we started out with. It was an intelligent, common-sense merger. Nothing convoluted about it. Nothing sinister. Nothing clandestine...