Word: shearson
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...billions of dollars and mobilizing squadrons of bankers and lawyers on a scale previously unimagined. On one side is the firm of Kohlberg, Kravis, Roberts, until now the undisputed master of the leveraged buyout. On the other is an alliance between a group of RJR Nabisco executives and Shearson Lehman Hutton, an old-line investment firm determined to break KKR's dominance of the hottest, most lucrative business on Wall Street. If either side pulls off the deal, the course of U.S. corporate history could be changed forever...
...Nabisco deal will put that assertion to a stern test. The struggle for the huge company began two weeks ago, when it was announced that a group of managers led by chief executive Ross Johnson, 56, was considering making a $17.6 billion buyout bid, to be put together by Shearson -- not KKR. The announcement came after Johnson delivered a startling message to the RJR Nabisco board of directors: "This company ought to be in play." News of the buyout proposal stunned Henry Kravis, who felt betrayed by Shearson's chairman, Peter Cohen. For one thing, Kravis and Cohen, 41, were...
...stunned Wall Street by proposing what would be the biggest takeover in U.S. history: a $17.6 billion leveraged buyout by management of the tobacco and food conglomerate. (Among its top brands: Winston cigarettes, Oreo cookies, Ritz crackers and Life Savers candy.) The RJR executives, with the help of the Shearson Lehman Hutton investment firm, hope to borrow close to $16 billion to finance the deal. If the transaction is completed, it would eclipse Chevron's $13.3 billion acquisition of Gulf Oil in 1984 as the largest takeover ever...
...Roberts, an investment firm with $5.6 billion for use in takeovers, is a leader in the field. Since the takeover funds can borrow against their capital, they have the potential to raise as much as $300 billion. In a practice known as merchant banking, Wall Street firms, including KKR, Shearson Lehman Hutton and Morgan Stanley, are buying stakes for themselves in the companies they help investors take over...
...lost their jobs, while profits have plunged at such firms as Merrill Lynch and Paine Webber. The largest investment houses have survived the down cycle, with one exception: E.F. Hutton, already suffering from a check-kiting scandal before the crash, nearly collapsed afterward and was absorbed last December by Shearson Lehman...