Word: mergers
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When Trump responded by filing a $250 million suit against Griffin for interfering in the Resorts/Trump merger, the entertainer promptly countersued for $500 million. Trump, he charged, had misled stockholders about the company's value and breached his fiduciary responsibility by not considering a more attractive offer. "It's a real war," says Marvin B. Roffman, a senior security analyst for the Janney Montgomery Scott investment firm. "Griffin is dead serious...
...called RepublicBank, acquired another Dallas firm, InterFirst, which was on the verge of collapse. InterFirst seemed salvageable, but its loan portfolio was in worse shape than RepublicBank assumed. As a result, First RepublicBank last year lost $657 million. Says Paul Horvitz, a professor at the University of Houston: "The merger may turn out to have been the worst business decision ever made." Worried First RepublicBank's depositors have pulled some $2 billion out of their accounts this year. If First Republic were to fail, it could cost the FDIC $5 billion to restore the bank's financial health. That would...
...Jung's hand was forced when the R.D.P. planned a partial merger with two small parties, threatening to leave the P.P.D. in the political wilderness. Will the P.P.D. and the R.D.P. find it easier to cooperate now that the strong-willed Kims are gone? Probably not: already there is haggling over who should lead a reunified opposition...
...chains as Bloomingdale's, based in New York City, and San Francisco's I. Magnin. If Federated combined with either Macy's (97 stores, 1987 fiscal-year sales: $5.2 billion) or Manhattan-based Allied Stores (286 stores, estimated 1987 sales: $3.5 billion), which Campeau Corp. bought in 1986, the merger would be the largest in retail history...
...family seems to be an adjunct to his driving ambition. He left his first wife one day without any explanation. His second marriage, to Elizabeth Hanford, a Democrat turned Republican from North Carolina who was serving as a member of the Federal Trade Commission, seems more like a merger. He is curiously distant from his only child Robin, a daughter from his first marriage; when he arrives at a podium, he will give his wife a kiss and his daughter a handshake. Dole and his second wife, who have no children, live in his former bachelor apartment at the Watergate...