Word: stockings
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...becoming as pervasive as red suspenders. Last week four blue-chip companies, including Dow Chemical and ^ American Express, unveiled a new financial product that could become a deterrent to corporate raiders. The firms will buy back as much as $5.6 billion worth of their shares with so-called unbundled stock units: packages that include a bond and two new types of securities. Partly because the new packages will allow the companies to pay less in taxes, investors might bid up the price of the new units. Raiders, Wall Streeters believe, might resist paying such a premium, thus foiling takeover bids...
...stock could inspire little more than a yawn. Investors may have trouble determining a fair value for the package, which is far more complex than a share of common stock. Says one financier: "This is an instance of financial engineering going...
...Nabisco by the firm of Kohlberg, Kravis, Roberts--helped out by some $20-40 million from Harvard's endowment--sounds great on paper and is worth as much. Leveraged buyouts, in which huge companies are bought and sold and divided and merged solely for the purpose of raising the stock values, are running wild in America...
...course, with all our asssets tied up in paying off the huge loans we've accumulated, we can't afford to develop new, better products that will make us stronger in the long run, but that's okay because in five years we'll sell our stock publicly again and make back 10 times what we invested. This assumes that the economy and inflation continue an upward trend, because if they don't we'll go bankrupt, but what's life without a little risk...
...course, the stockholders, especially large ones, don't do badly either. Harvard, for instance, will not only see an approximately 40 percent return on the $20-40 million it invested in KKR's takeover fund, but being in the interesting position of helping raid a company they own stock in, they will get huge returns from those holdings when the new owners sell off parts. The closing of the takeover deal earlier this month meant that RJR stock was worth $109 per share--quite a bit more than than the $56 per share it was worth on the market before...