Word: plc
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...deal whose major negotiations took only two weeks, MCI Communications Corp., the entrepreneurial David to AT&T's Goliath in America's long-distance wars, sold 20% of its stock to the huge British Telecommunications PLC for roughly $4.3 billion and instantly acquired access to AT&T-like capital and global reach...
Boeing has held "substantive" talks with Germany's Deutsche Aerospace and has met with British Aerospace PLC, two members of Airbus Industrie, the European consortium that has emerged as the U.S. firm's only real rival. The consortium would be pre-empted from building its own superjumbo if one or more of its team enter a deal with Boeing...
...seek postwar business. "The Crown Prince has said he will look favorably on Kuwait's supporters," says John Lace, managing director of Britain's Babcock Energy, which builds power plants. "So we are second in the queue." As if to confirm that, Kuwait last week awarded Britain's Attwoods PLC $1 billion to clear the war's rubble and debris...
What the press had dubbed the City of London's "trial of the century" ended last week in the conviction of four of Britain's most prominent businessmen. Former Guinness PLC chairman Ernest Saunders was sentenced to five years in prison for masterminding an illegal operation to boost the stock price of the famed $11.6 billion brewing and distilling group and thus helping the company win its successful $5.23 billion takeover battle for Distillers, the Scottish liquor maker. Investigators first became aware of the Guinness scheme, described as one of the biggest financial scandals in British history, when U.S. inside...
...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...