Word: ponts
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Pont will have to borrow $3 billion to finance the purchase, which would more than double its debt load, and some observers think that Conoco might be too much to digest. Du Pont has a reputation for being a tightly run company that frequently shifts managers between product lines to give them broader experience. Asserts Thorn Brown, an analyst with the investment firm of Butcher & Singer: "There's no easy way to integrate Conoco into the Du Pont operation...
Wall Street was also shocked because Jefferson had been chief executive of Du Pont for only two months, since the retirement as chairman of the highly respected Irving Shapiro. After the merger announcement, Jefferson admitted that he had been forced "to make a very quick assessment of whether it was worth throwing our hat into the ring." In fact, one of the first steps Jefferson took in assessing the merger was to call Shapiro for advice. Recalls Jefferson: "We thought about it and concluded that in a merger with Conoco we would be stronger than as Du Pont alone...
...Font's interest in Conoco is understandable. Petroleum is the raw material for some 80% of its products. Like all chemical makers, Du Pont has been badly hurt by the surge in oil prices since 1973. Now Du Pont will have its own private supply of crude. Last year Conoco produced 374,461 bbl. of oil per day worldwide, of which 36% came from U.S. wells. Moreover, Jefferson contends that Du Pont scientists will be able to help Conoco develop new techniques for boosting the yield from oil wells and converting coal into synthetic fuel. Conoco is the second...
...started during the same period in the Carter Administration. Baxter last week dropped two of the antitrust cases inherited from Carter: one against Mack Trucks and the other involving two firms in the brick-selling business. In light of the new attitude, Government approval of the Du Pont-Conoco match-up appears almost certain...
...limits of this big-is-beautiful philosophy may be severely tested in the coming months. No sooner had Du Pont and Conoco exchanged vows than Wall Street was abuzz with speculation about the next multibillion-dollar corporate link. The best bet is a union between Texaco and Cities Service...