Word: shearson
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Seagram has retained two investment banking firms, Lazard Freres and Shearson Loeb Rhoades, in its effort to snare Conoco. Rohatyn and his Lazard Freres staff of only a dozen handled $10 billion worth of mergers last year. Shearson's group is led by Managing Director Mark Millard, 72, who in 1963 advised Seagram Chairman Edgar Bronfman to buy Texas Pacific Oil Co. for $326 million. Seagram last year sold Texas Pacific to the Sun Oil Co. for $2.3 billion; that money is now providing the bulk of funds used in the bidding for Conoco...
...industries are immune to merger fever. As a result, the ranking of top U.S. firms has become almost as volatile as Billboard magazine's Hot 100 pop record chart. The strategies behind the mergers are as varied as the deals themselves. American Express, for example, grabbed the Shearson Loeb Rhoades brokerage house on its way to becoming a one-stop financial service center. To enhance its power on grocery shelves, Nabisco merged with Standard Brands...
Dean Witter Reynolds, a leading Wall Street brokerage house, has already raised more than $165 million from investors for Public Storage Inc. of Pasadena, Calif., the nation's largest miniwarehouse chain. Public Storage operates 165 separate warehouses, located mostly in the Sunbelt. Shearson Loeb Rhoades is helping to finance the growth of rival Colonial Storage Group of Odessa, Texas, which was founded in 1969 and now has 81 facilities in operation. Meanwhile, Merrill Lynch has also entered the field, with a $15 million miniwarehouse investment program for pension funds...
...rapidly materializing. Neither a simple savings and loan nor a conventional bank, it is a combination bank, insurance company, brokerage firm and credit-card company. The mergers in recent months of the Prudential Insurance Co. with Wall Street's Bache Group Inc. and American Express with the Shearson Loeb Rhoades brokerage firm provide a glimpse of the shape of things to come in finance. With the help of computers, plastic credit cards and toll-free long-distance phone calls, these money supermarkets are carrying out perhaps the most significant change in the way people handle money since Marco Polo...
...measure, America's most bullish brokerage house has succeeded. From Bellingham, Wash., to Bradenton, Fla., 75% of all Americans live within 25 miles of one of Merrill Lynch's 476 offices. As a result, the company is bigger than its three closest publicly held competitors-Shearson Loeb Rhoades, E.F. Hutton and Dean Witter Reynolds-put together...