Word: sharing
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Dates: during 1980-1989
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...University officials claim that Harvard is paying its fair share of the tax burden. Director of Planning Kathy Spiegelman said that Harvard decided to make the payment as a show of good faith to city, despite the agreement's expiration...
...years of history, were nearly as disparate as the directions from which they arrived. Whereas Kennedy's aim was to spread a message of resolve at the very height of the cold war, the Soviet leader proclaimed a new era in which East and West could peacefully share their common continent...
...that Paramount Communications had put forward the previous week. After deliberating for ten hours on the 34th floor of the Time & Life Building in Manhattan, the board approved a double-barreled response that demonstrated Time's determination to complete its merger with Warner. Declaring that Paramount's $175-a-share bid was "not in the best interests of Time, its stockholders and its other constituencies," the board, which consists of four Time executives and eight outside directors, unanimously rejected the proposal. Said Time President N.J. Nicholas: "The $175-a-share offer does not come close to the true value...
...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...
Paramount attacked the revised Time-Warner merger agreement as "a defensive device, pure and simple. From the standpoint of Time shareholders," the company said, "we don't see how it begins to compare with our offer of $175 a share in cash for all shares." Declared Paramount's principal investment banker, Robert Greenhill of Morgan Stanley: "We consider this a very weak response." Paramount repeated an earlier offer to negotiate a higher price, and declared, "We will continue our efforts to acquire Time Inc. with firm determination...