Word: plc
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Dates: during 1980-1989
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Because Edelman feels that U.S. attitudes toward raiders have become too hostile, he now prefers to stalk European game. Yet his magic touch is fading. In June, Edelman made a failed bid for Storehouse PLC, a British retailing giant. Since then Storehouse's profits and stock price have plunged, wiping out some 35% of the value of Edelman's stake...
...Deutsche Bank's sole chief executive in May 1988, Herrhausen had aggressively begun to change the bank, the world's 20th largest, from an insular institution to a global financial power. Only last week he made a $1.4 billion takeover bid for the British merchant bank Morgan Grenfell Group PLC. Throughout his life, Herrhausen viewed himself as a man driven by destiny to lead West Germany to new heights as a world economic power. It was a mission that was brutally shattered on a street in Bad Homburg last Thursday morning...
Cash starved and struggling, Britain's Jaguar PLC has decided to take the course favored by many an aristocrat facing hard times: marrying into money. Last week, three days after Japanese investors bought a majority interest in Rockefeller Center, the 67-year-old maker of sleek, purring luxury sports cars and sedans agreed to be taken over by America's Ford Motor for $2.5 billion. The deal is likely to win approval from the required 75% of Jaguar's stockholders...
...green-and-yellow signs are familiar landmarks on American highways, will soon take on a British accent. Last week Memphis-based Holiday Corp. said that it will sell its North American chain of more than 1,400 Holiday Inns for $2.2 billion to British pub-and-brewery giant Bass PLC. The sale completes a global acquisition for the London-based company, which last year bought the rights to Holiday Inn franchises outside North America...
...dinner party to celebrate the company's rebuff in May of a hostile takeover bid by South African-controlled Minorco. Not until the meal was over did ConsGold Chairman Rudolph Agnew inform his troops that the company's board had accepted a $5.5 billion takeover bid from Hanson PLC, the $12.5 billion British group whose holdings include Jacuzzi and Farberware...