Word: offered
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Dates: during 1950-1959
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...Philadelphia the University of Pennsylvania's President Gaylord P. Harnwell pondered the pixyish offer from a local lawyer and his clients to put up $500,000 for an endowed professorship of taxation, finally announced that his school had no intention of honoring the name of the late Mobster Al Capone with this particular chair...
Instead of investigating the offer to see if it was in the stockholders' interest, Portal signed a secret deal with Alcoa. He assured Alcoa that the only remaining problem-getting British Treasury approval of a deal involving a nonresident company-was certain to be decided favorably in a few days...
Tube-Reynolds brought the fight out into the open by calling in the press to explain its attractive offer. For two shares of Aluminium the new group would pay $10.92 in cash, plus a share of Tube stock worth $11.62-an average of $11.27 vthe $8.40 offer from Alcoa. To a hurriedly called press conference, Lord Portal lamely explained that he had ignored the much higher Tube-Reynolds offer because an Alcoa deal was in the "longterm interests of the company." But he conceded that his real fear was that the "Reynolds family," led by Reynolds President Richard Reynolds...
...shares outstanding, had even picked up 260,000 shares that the Church of England's Commissioners, who handle the church's investments, unloaded at a profit of about $1,000,000. Reynolds' investment: around $40 million. In addition. Tube and Reynolds upped their stock-swap offer to $12.32, got enough additional stock to raise their total holdings...
...interest" in the matter. Privately, Alcoa officials fumed that the Aluminium management had led them down the garden path by airily assuring Alcoa that Treasury approval was routine. The worst of it was that once Alcoa had signed the $8.40 agreement, it could not go into the market and offer more without making the $8.40 look bad. To top off Alcoa's unhappiness, its chief competitor had a major European affiliate; Alcoa had none...