Word: offerred
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Dates: during 1980-1989
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...battle between left and right over definition continues; unfortunately, the right is winning. Gov. Michael S. Dukakis has been deservedly lambasted for refusing to offer a positive definition of a "liberal" or for failing to explain why members of the American Civil Liberties Union are patriotic. George Bush painted a picture of liberals as hairy, bug-eyed perverts. Dukakis held his palette...
Saddled with a reputation for erratic performance, Continental pioneered the junk fares last February to woo business flyers. "Our first order was to restore the quality of the operation and then offer a fare structure to entice the frequent flyer back," explains Continental president Martin Shugrue. Other airlines soon followed, but reluctantly. "We never thought these fares made much economic sense," says Al Becker, spokesman for American Airlines. "We matched Continental for competitive reasons...
...into play" and broken up, he had reason to believe that the company's board of directors would support him. After all, he had treated the outside directors on RJR's board well, paying them lavish fees and providing access to the company's corporate jets. Moreover, his offer was the largest leveraged-buyout bid in history and would give RJR's stockholders a rich, immediate payout...
...Waverly hotel that he and seven other managers intended to take the company private in a $17.6 billion leveraged buyout, RJR's board members reacted with shock, one of them now says, "because he was raiding the company from the inside." At first blush, the $75-a-share offer seemed generous, compared with the market price of about $56 at the time. But the directors' shock became outrage when they later learned about the huge piece of the action that Johnson and his top executives planned to grab for themselves: a payoff that could conceivably amount to $2.6 billion...
...committee of the company's directors responded to Johnson's proposal on Nov. 7 by opening the bidding for RJR to all comers, setting last Friday as the deadline. Two days before the auction closed, one potential bidder, the Manhattan investment firm Forstmann Little, scrapped its planned offer. Forstmann's departure left two contenders: the RJR management group, which had upped its offer to $21 billion ($92 a share), and the investment firm Kohlberg Kravis Roberts, with its bid of $20.6 billion ($90). RJR's board could take as long as several weeks to study all new offers, including revised...