Word: raider
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What hastened the move was the arrival of the unthinkable: a rash of giant takeover deals that raised the possibility of Sears itself becoming a raider's target. To make its stock more dear, Sears plans to invest at least $1.5 billion in buying back 10% of its outstanding shares. Yet later in the week came rumors that a takeover bid was being considered by such candidates as developer Donald Trump and Revlon chairman Ronald Perelman. With a market value of at least $16 billion, Sears is still a long shot as a takeover victim. But analysts think the company...
Junior Joe Gardner (14-32--46) will have to assume the role that Boivin so successfully accomplished for Colgate. Steve Spott (14-16--30) and Shawn Lillie (12-22--34) should keep the Raider offense consistent...
...Philip Morris a strong presence in the international markets that provide about a quarter of the food company's revenues. While Philip Morris' cigarettes are widely available throughout the world, its General Foods grocery products are not. Finally, Kraft has a $1.2 billion cash hoard, tempting bait for any raider...
...Curb corporate raiding. Dukakis has latched on to an important issue, but he is wrong to talk as if all mergers and acquisitions are equally bad. Friendly combinations may improve U.S. competitiveness. The more disturbing deals are the hundreds of hostile takeovers carried out by raiders financed with junk bonds. No wonder corporate executives focus on short-term profits and their companies' stock prices if they constantly have to look over their shoulders for a raider. Even worse, hostile takeovers often saddle the target companies with huge debts that make them weaker than they were before the raid. The solution...
...putting more stock in the hands of the remaining employees, Wall Street realized immediately what the company was up to: trying to boost the price of its shares and protect itself against takeovers. Little did the markets know, however, that Polaroid was already being stalked by a raider. For weeks, Shamrock Holdings, the investment company owned by Roy Disney, Walt's nephew, had been secretly accumulating Polaroid stock. At the same time, Shamrock sent letters to Polaroid's management proposing to buy the whole company. But Polaroid refused the offer, unveiling its restructuring plan instead. Last week the battle burst...