Word: outbids
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...five times as much as during the same period last year. But the real cliffhanger involves AT&T Wireless, the U.S.'s troubled No. 3 carrier. It wants to merge, and Arun Sarin, chief executive of British mobile giant Vodafone, has said he wants to bid. Assuming it could outbid the No. 2 player, Cingular (which upped its bid last week), Vodafone would be buying a firm that's losing market share. The bid deadline was Friday, but no one would confirm a Vodafone offer; some say AT&T's 22 million customers come at too high a price...
...College cannot provide enough space to all student groups. Rather than try to monopolize the limited space that is available, student leaders have worked tirelessly using their own resources to find space for their groups to call home. Despite the fact that they were time and time again outbid by the aggressive and rude Harvard apparat, they kept on. They should be applauded for their efforts—not only for freeing up Harvard’s student space, but for taking control of their own fate in the problematic situation you describe...
...Fiat's defense subsidiary, Fiat Avio, for about €1.5 billion. And now it's bidding for DaimlerChrysler's MTU, which makes military aircraft engines, and is also expected to fetch about €1.5 billion. Industry sources say Carlyle wants to put the two together. But first it must outbid U.S. rivals such as KKR and the Blackstone Group. And Economy Minister Wolfgang Clement said this month he wants the firm to remain German. Carlyle is betting that the MTU-Fiat combination may be the "European solution" needed to satisfy the Germans. Milking The Customer Voters in Seattle, Washington...
...received a harsh letter from Verizon general counsel and former U.S. Attorney General William Barr this week saying, among other things, that "The United States is now on notice that it is effectively serving as a 'fence' for stolen property." Verizon claims that MCI was able to outbid its rivals for government contracts in part because it had robbed other carriers through the rerouting scheme...
...gain effective control of US Airways, RSA outbid by 20% the Texas Pacific Group, based in Fort Worth, a private-equity outfit with long experience investing in distressed airlines. RSA has plunged into a battered industry that has bedeviled even value-stock gurus like Warren Buffett, who once described his airline investments as "temporary insanity." Olivia Mitchell, executive director of the Pension Research Council at the University of Pennsylvania's Wharton School of Business, warns that for a pension fund, direct investment in such a risky business--especially when the fund manager becomes the airline chairman--"creates a slippery slope...