Word: mergers
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...former Bendix vice president who resigned in October 1980 in the wake of charges that she was having a romance with Agee. After denying the accusation at the time, the two married last June. That episode still haunts Agee. Says one of Wall Street's most prominent merger makers: "No one wants to be taken over by Agee. He made a fool of himself with Mary Cunningham. Other corporate managers don't respect...
...prosecuted more cases of insider trading than it had in the previous 40 years. Two of the most important ones involved investors who had bought stock in St. Joe Minerals and Santa Fe International just before the companies became takeover targets. The traders then made large profits after the merger bids were announced. In both cases American investigators followed trails leading to Swiss banks...
Playing the merger game...
...wave of takeovers that has so dominated Big Business for the past year continued last week when another major merger bid was announced and yet another accepted after weeks of careful negotiation. The Bendix Corp., a widely diversified auto components and industrial manufacturing corporation, announced that it will seek to acquire the Martin Marietta Corp., which has holdings in a broad range of fields from chemicals to aerospace, for about $1.5 billion in cash and stock. Meanwhile, Cities Service Co. reluctantly agreed to accept a takeover offer from Occidental Petroleum Corp. If that approximately $4 billion transaction is completed...
Despite its bitter opposition to the Fidelity takeover, Bank-America maintained last week that it was "too early to tell" what kind of impact the merger would have on the Califor nia banking market. "We're not trembling with trepidation because Citicorp is coming to California," said Spokesman Ronald Owens. "We're ready to take on all entrants to this market. It just means the competition is going to get a little heavier." Bank-America, which must still receive the approval of the Federal Reserve Board for its own bold move out of traditional banking, the purchase...