Word: mesa
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...Mesa, Ariz...
There are aspects of the new woman in a rising generation of athletes and actresses: the powerful neck and shoulders of Dancer Sandahl Bergman, the huge forearm of Tennis Champ Martina Navratilova, the mesa-flat stomach of Actress Mariel Hemingway, the sinewy "thunder thighs" of Marathoner Gayle Olinekova, the eloquently articulated back muscles of Track Star Patrice Don nelly. But these are not changeable parts on the latest model of Barbie doll. The new body is to be seen and appreciated in the sum and the movement of its parts, the most important of which may be the brain that...
...company with Gulfs standing in the corporate community dare to lock itself into a $5 billion deal and then change its mind?" Ironically, Gulf was originally cast as the hero in the Cities Service drama. In June Cities Service was trying to escape an unwanted takeover bid by Mesa Petroleum, a relatively small Amarillo, Texas, oil firm. Unwilling to be controlled by a company less than one-twentieth its size, Cities welcomed Gulfs merger bid of $5 billion, which Mesa could not match...
Gulf's immediate concern last week, though, was tactical. The company wanted to head off aggressive Mesa Petroleum, a company that is little more than one-twentieth Cities Service's size, with 1981 revenues of only $407 million. Therefore, Gulf decided to come in with a $63 per share bid, which was nearly 70% over Cities Service's market price of about $37 per share. It was hoped that such an offer would immediately stop all competition...
...Mesa and its hard-charging chairman, T. Boone Pickens, the Gulf offer created confusion aplenty. Said he: "We are just scratching our heads and trying to see what options we have." Three weeks ago, Pickens offered a package of $3.8 billion in Mesa stock, promissory notes and other credits to acquire 100% of Cities Service. Meanwhile, however, Charles J. Waidelich, the company's chairman, had been trying to outflank Pickens with an offer to pay $17 per share for a 51% majority interest in Mesa. By last week, Cities Service had received tender offers of 41% of Mesa...