Word: raider
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Foreign shopping fever reaches even into the country's remote fastnesses. When the brash British raider Sir James Goldsmith calculated that U.S. timberland was becoming a tempting prize, he launched a $500 million takeover bid at San Francisco's Crown Zellerbach paper company in order to grab the corporation's vast forests. As a result of the 1985 takeover, Goldsmith now owns 1.9 million acres of American forests in Washington State and Oregon...
...Responding to Pickens' move, the Boeing board last week adopted a so-called poison-pill defense, which would increase the amount of outstanding Boeing stock and thus effectively dilute the value of the shares a raider might own. Boeing management also huddled with Washington State's political leaders to discuss the possibility that the legislature might adopt emergency anti- takeover laws, as Minnesota and North Carolina did recently when local companies were pursued by outsiders. In Washington State, any threat to Boeing (total employment: 121,500) raises deep emotions. Moreover, Air Force Secretary Edward Aldridge said last week that...
...hide the company silver. A sly and extraordinarily patient Australian financier, Holmes a Court has built Bell Group, a $2 billion corporate empire that reaches from oil and gas interests near Tasmania to theaters in London's West End, by capturing troubled companies one at a time. Now the raider is circling around Texaco, and no one is entirely certain of his intentions...
Riding the bull: investors learn how to play a volatile market. -- An Australian raider closes in on Texaco. -- Probing Delta' s foul...
...traffic rose another 15% or so. Wall Street analysts expect the 22 major U.S. carriers to earn operating profits of as much as $3.5 billion this year, far exceeding the previous record of $2.4 billion in 1984. Even TWA, a perennially struggling carrier now run by Corporate Raider Carl Icahn, is expected to enjoy a banner year. "The airlines are living in the best of all possible worlds," declares John Pincavage, who follows the industry for the Paine Webber Group investment firm...