Word: staking
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...with distribution. To catch up, Messier became a serial acquirer, buying the Bronfmans' Seagram Co. and its Universal movie studio, theme parks and music group for $34 billion in stock. Last year, in the U.S. alone, he agreed to buy book publisher Houghton Mifflin, music website mp3.com a 10% stake in the EchoStar satellite service, and the entertainment assets of Barry Diller's USA Networks for a total of $14.4 billion...
...business, an unpopular move with part of the family. "From the beginning of this escapade, [Bronfman's uncle] Charles has been dead set against [it]," says a Bronfman-family insider. And to finance his $5.7 billion purchase of movie studio MCA/Universal in 1995, he sold Seagram's nearly 25% stake in chemical giant DuPont for $8.7 billion. Today the stake would be worth almost twice as much...
...business in Midland, Texas, he didn't discover enough of the stuff to strike it rich. He merged his first company, Arbusto (Spanish for "bush"), into one called Spectrum 7 in 1984 and then led the struggling firm into Harken's embrace in 1986. In exchange for his 15% stake in Spectrum, Bush got Harken stock worth some $320,000; he was also hired as an $80,000-a-year consultant. Harken founder Phil Kendrick explained it this way: "His name was George Bush," he told Time. "That was worth the money they paid...
...Hasan, a confidant of former President Suharto. Indeed, the issue of the shares came up soon after the Freeport executive boarded the presidential C-130 aircraft carrying Taufik and a 40-member entourage. With Hasan serving a lengthy jail sentence for corruption, the executive was told, the 4.7% stake in PT Freeport Indonesia was in limbo. As a committed nationalist, Taufik told the executive, he?and the President?felt it would be best if the stake remained in Indonesian hands. The executive smiled politely, sources close to the company say, then said he would have to get back on this...
...company any shortfall on the interest payments not covered by dividend from the stock, a sum that had climbed to some $69 million by late 2001. Freeport withdrew its guarantee and paid off the $253.4 million remaining on the loan. In return the company got back the troublesome 4.7% stake. Freeport says the decision to repay the loan came after Hasan's company said it could no longer keep up its interest payments and had "nothing to do with any Indonesian official...