Word: proceeds
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...terse statement allowed Time to proceed with its friendly acquisition of Warner. Within three hours of the decision, Time carried out its tender offer to pay $70 a share for 100 million of the more than 180 million Warner shares outstanding. Along with 17 million Warner shares that Time acquired in a stock swap in June, the tender gave Time a 58% controlling interest in its merger partner. As a result of the deal, Time changed its name to Time Warner; the company will buy the remaining Warner shares for a combination of cash and securities under terms that...
...folks had a notion of integration, it meant that more and more black folks would become more like us," says white historian David Garrow, a biographer of Martin Luther King Jr. This political climate has left many black leaders disheartened. "We don't have a clue on how to proceed," says Eleanor Holmes Norton, a top civil rights official in the Carter Administration. "I would never have said that...
...date for stepping down as co-chief executive of the merged company to make way for Time President N.J. Nicholas to hold the chief executive's job alone. Not until Ross agreed last January to step aside five years after the merger were the talks able to proceed...
...venture must also win congressional approval before it can proceed, since antitrust law generally prohibits joint manufacturing ventures between major competitors. But experts predict that Congress will make an exception for U.S. Memories. Besides the potential gain in chips, they contend, the lessons learned from the DRAM joint venture could show American industry how to become more competitive in other high-tech areas, including high-definition television...
...proceed with the merger in the face of the Paramount attack, Time abandoned its earlier plan for a debt-free, tax-free stock swap with Warner, and instead launched a $70-a-share tender offer for 100 million of Warner's nearly 200 million shares. That would buy Time a controlling interest in its merger partner; the remaining Warner stock will be acquired later in exchange for cash and securities. The deal will cost Time the kind of debt it and Warner had hoped to avoid -- somewhere between $7 billion and $14 billion. Unlike the original Time-Warner arrangement...