Word: streets
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Dates: during 1980-1989
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...over four different companies. In early 1988 the 38-year-old maverick managed to acquire defense contractor Singer by bidding for it when no one else would, right after the stock-market crash. Last week, however, Bilzerian finally made what will probably be his most lasting mark on Wall Street. In the first jury verdict to arise out of the Government's three-year crackdown on insider trading, Bilzerian was convicted on nine counts of securities fraud and tax violations...
...problem for Li, Yang, Qiao or anyone else trying to rule China in the post-Tiananmen era is not more street protests. In the few days after the massacre, demonstrations and strikes did erupt in several key cities -- from Shenyang in Manchuria to central Wuhan to southern Guangzhou. Students and workers set up barricades in Shanghai, China's largest city and economic hub, and paralyzed the public transportation system. But the activism soon petered out. Protest rallies shrank from the ten thousands to the tens. On Shanghai campuses, student associations dissolved. With the crackdown officially under way, the vast majority...
...offer touched off a frenzy among Wall Street arbitragers, who snapped up Time stock in the belief that Paramount would prevail or attract other bidders into the fray. Time shares skyrocketed from 126 to 170 on Wednesday and finished the week at 170 1/4. Since Wall Street investors considered all three companies now to be in play, Warner stock jumped to 56 1/8, up 4 points for the week, and Paramount rose...
...which was 35% more than Time's stock price before the offer, exploited the dissatisfactions of many on Wall Street who had long cherished the notion that Time was worth more in pieces than whole. Since the merger agreement was reached on March 3, some investors had complained that the terms provided Time shareholders with no immediate financial reward. Reason: the agreement called for a debt-free swap of 0.465 shares of Time stock for each Warner share...
...else failed, Time could seek a so-called white knight to save it from Paramount's grasp. But almost any bidder with enough financial backing could jump into the fray without being invited. Moreover, Wall Street analysts believe that all three companies are now up for sale, since their stock is falling into the hands of speculators who will gladly sell to the highest bidder. "I bet none of the three companies will exist a year from now," says Ellen Greenspan, a leading Wall Street arbitrager...