Word: premiums
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...past forays, Icahn has sometimes walked away with hefty greenmail profits. In a greenmail deal, a raider sells his shares in a target company back to the firm for a premium not available to other shareholders. If that was Icahn's plan in this case, Roderick refused to play along. During his takeover effort, the financier paid an average price estimated to be somewhere between $22.50 and $26 a share for 29.3 million shares of USX. After climbing to 28 3/4 during the takeover battle, the company's stock closed last week at 22 7/8. That means that Icahn could...
...Barney, another blue-chip investment firm, started its own brouhaha by suing Goodyear Tire and Rubber and Sir James Goldsmith. To stop a takeover bid by Goldsmith last month, Goodyear agreed to buy back the raider's 12.6 million shares of the company for $52.50 apiece, nearly a 22% premium over their market value of $43. Such buyouts at a premium not available to other shareholders are known as greenmail...
Monago also said that several Cambridge citizens have complained that neighbors obtain permits but claim on insurance forms to garage their car elsewhere. Residents who register their car in Massachusetts and principally garage it in Cambridge pay the third highest car insurance premium in the state, after Somerville and Boston, said Monago...
...Gillette, the razor-blade maker. Probably more important, though, was the ! fast $34 million that Revlon earned by promising to back off. Investors branded the payoff as a clear case of greenmail, since Gillette agreed to buy back Perelman's 13.9% stake in the company at a premium price that was unavailable to other shareholders...
Some of the worst productions (as well as some of the best) are served up by graduates of the Dramatic Arts courses. Their effect, is, I think, minimal. Technical expertise is at a premium, as any fool can pretend to act but very few can design a light plot. The ART and the unsung hero of Harvard theater, the Loeb's Don Soule, have made an effort to educate fledgling dramatists and designers in the basics, but we must admit that for training we should have gone to Yale or Carnegie-Mellon and press on without...