Word: ponts
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Extensive air-transport service in and out of Miami International Airport has made that city a key jumping-off point for companies doing business in South America. In recent years, more than 100 multinational corporations, including Alcoa, Du Pont, Goodyear and Borden, have opened regional offices in nearby Coral Gables, a ten-minute drive from the airport...
...reason that South Carolina now has the third fastest growing industrial sector of any state in the U.S. is Charleston International Airport. Among the companies that have set up factories within an easy drive of the twin-runway airport: Cummins Engine, Du Pont, Levi Strauss, Memorex, Celanese and Exxon. Says Michael Kazeef, a manager for Alumax Inc., a leading aluminum producer: "In Washington State, the airport is 120 miles from our plant and going there was a big inconvenience. For any large company, an airport close by is a necessity. Vendors, salesmen, parts, cargo, company officials, you name...
...After Du Pont's new offer, an uneasy and temporary lull settled over the competition. Explained a top financial adviser to Seagram's Bronfman: "We're just going to sit back for a while and see what happens." But then, after three days of waiting, Mobil moved. It offered $7.7 billion, or $90 per share. The other bidders immediately returned to their calculators to plot their next ploys...
...Conoco shareholders will determine whose offer wins. Though Mobil's bid is now the highest, analysts still believe that Du Pont has the best chance because of the antitrust uncertainty surrounding the oil firm's offer. Says Garo Armen, of the E.F. Hutton investment firm: "Du Pont has the edge even though Mobil's offer is higher. Seagram is out of the running on price...
Mobil, another Conoco suitor, has hired the merger team of Merrill Lynch White Weld, which is headed by Carl Ferenbach, 39. Du Pont has retained the services of First Boston Corp., whose merger mentors, Joseph Perella, 39, and Bruce Wasserstein, 33, last March masterminded Fluor's $2.7 billion purchase of St. Joe Minerals. Their fee for that deal: $3.5 million. If Du Pont wins Conoco's hand, First Boston could pocket as much as $15 million. But even if some other firm walks off the winner, First Boston will still claim a $750,000 loser...