Word: revlon
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...started collecting his own companies. Beginning with a chain of jewelry stores, he added MacAndrews & Forbes, a producer of licorice extract, in 1979. Then, with the help of financing provided by Drexel Burnham Lambert's junk-bond whiz Michael Milken, came Pantry Pride, a grocery chain. In 1985 Revlon was added to his list...
...confident" of coming up with the necessary cash. In some cases, like T. Boone Pickens' failed bid in 1984 for Gulf Oil, Drexel charged a hefty fee for lining up money that it never had to deliver. But in many other raids, including Ronald Perelman's 1985 takeover of Revlon, Milken raised billions through his network of buyers. Before long, Milken's annual junk-bond conference became known as the Predator's Ball...
...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 would be worth $36 billion if its assets were auctioned off separately...
Advertisements, while perhaps an economic necessity, represented the first, gigantic slip from the prescribed feminist political agenda. Ms. may be owned by women, but companies like Hanes and Revlon control the magazine's future now. And since sex sells, it is unlikely that the businesses behind "Lindsay's legs" will change the content of their advertisements to reflect the editorial interests of the editors...
Some people just cannot seem to take no for an answer. For the third time in less than a year, Ronald Perelman, chairman of the Revlon Group, is reviving his efforts to take over Gillette. Last week Perelman offered $5.4 billion in cash and securities for the Boston-based razor-blade concern. That is nearly $800 million more than his last bid, in June, which the company rejected as inadequate...