Word: probst
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Dates: during 1980-1989
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...sense Gerald Probst, the chairman of Sperry, was like a general on the wrong side of a surrender ceremony as he sat with Burroughs Chairman W. Michael Blumenthal last week at a press conference in Manhattan's St. Regis Hotel. For a year Probst had resisted a determined drive by Burroughs to take over his company and thereby form the world's second-largest computer manufacturer, after IBM. In the end, though, the advance was irresistible. New York City-based Sperry agreed to be acquired by its Detroit rival for $4.8 billion. A triumphant Blumenthal said he hoped that this...
...Probst, 62, will stay on as vice chairman, but he did not conceal his mixed emotions last week. Said he: "We are totally convinced that we could have continued to be a viable competitor to IBM. But we recognize that, being a public company, we are not always masters of our destiny...
Burroughs first approached Sperry's board of directors last year, with a $65-a share offer. Sperry, which was trading at $55 a share, rejected the bid as inadequate, but became concerned that Blumenthal would try a hostile takeover. Probst reportedly talked with several other firms, including General Dynamics and AT&T, about topping Burroughs' offer in a friendly merger deal. Since none of those discussions panned out, Sperry was vulnerable when Blumenthal came back with a $70-a-share bid last month. After Sperry balked again, Burroughs said it would make a tender offer directly to shareholders. Finally Blumenthal...
...object discovered by McCarthy and his colleagues-Frank Low of the University of Arizona and Ronald Probst of the Kitt Peak National Observatory in Tucson-has been dubbed VB 8B and is some 600 million miles from the star it orbits. It is visible only through powerful telescopes. Although it is nine-tenths the size of Jupiter, its mass is ten to 50 times greater. It is also a good deal warmer: 2,000° F, in contrast to Jupiter's -240°, or as Gatewood put it, "as hot as a Pittsburgh blast furnace...
Harvard's General Counsel Daniel Steiner said everything at Harvard is subject to systematic auditing, both internally and by outside agencies. He added that Harvard does not hold corporations similar to those which Probst controlled at Princeton. Although Steiner could not recall a similar scandal here, he said that such incidents are conceivable in operations as large as Princeton and Harvard...