Word: perelmans
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...billion). Last October the magazine estimated Walton's wealth at $6.7 billion. Forget about it, says Institutional Investor, noting that a portion of Walton's wealth is shared with four grown children. In its May issue the financial monthly says the richest man in the U.S. is Ronald Perelman, 46, of New York City, who has amassed a personal fortune of $5 billion in a mere ten years by assembling companies in businesses ranging from cosmetics to groceries to camping equipment to licorice extract...
...attempted reconciliation with his wife. But the tone and dynamics of this scene are indistinguishable from the rest of a film that looks as if it had been shot in a brownout. Depression, obviously, is not amusing. But depressives, as the history of humor from Mark Twain to S.J. Perelman proves, can be. Anyway, it should be possible to analyze an illness without falling prey...
...firm stated it was "highly confident" of coming up with the necessary cash. In some cases, like T. Boone Pickens' failed bid in 1984 for Gulf Oil, Drexel charged a hefty fee for lining up money that it never had to deliver. But in many other raids, including Ronald Perelman's 1985 takeover of Revlon, Milken raised billions through his network of buyers. Before long, Milken's annual junk-bond conference became known as the Predator's Ball...
...target. To make its stock more dear, Sears plans to invest at least $1.5 billion in buying back 10% of its outstanding shares. Yet later in the week came rumors that a takeover bid was being considered by such candidates as developer Donald Trump and Revlon chairman Ronald Perelman. With a market value of at least $16 billion, Sears is still a long shot as a takeover victim. But analysts think the company would be worth $36 billion if its assets were auctioned off separately...
...Perelman's pursuit of Gillette is particularly brash for legal reasons. Last November the tycoon signed a ten-year agreement in which he promised not to seek control of Gillette without prior consent of the company's board. Perelman says he has sought such approval in a letter to Gillette's directors. But the target company immediately criticized the letter as "strident...