Word: swaps
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...proceed with its friendly acquisition of Warner. Within three hours of the decision, Time carried out its tender offer to pay $70 a share for 100 million of the more than 180 million Warner shares outstanding. Along with 17 million Warner shares that Time acquired in a stock swap in June, the tender gave Time a 58% controlling interest in its merger partner. As a result of the deal, Time changed its name to Time Warner; the company will buy the remaining Warner shares for a combination of cash and securities under terms that the parties must determine within three...
...part, Paramount dropped its $200-a-share hostile bid for Time after the supreme court ruling. The decision upheld Allen's finding that Time's management acted properly when it responded to Paramount's raid by converting the Time-Warner deal from a stock swap, which required shareholder approval, to a leveraged purchase, which needed no such vote. Paramount Chairman Martin Davis said he would "continue aggressively to build our core business in publishing and entertainment." Last week Paramount agreed to sell its financial-services subsidiary, Associates First Capital, to Ford Motor for $3.35 billion, which would give the communications...
...friendly mergers back in vogue? Just three days after the Delaware Supreme Court gave Time Inc. and Warner Communications the go-ahead to join forces, another megamerger was announced. Bristol-Myers (1988 sales: $6 billion) and Squibb ($2.6 billion) said they had agreed to an $11.2 billion stock swap that would create the world's second largest drug company. The friendly merger would be the largest so far in the current race to create globe-spanning pharmaceutical giants. The new company, with headquarters in Manhattan, would bring together such products as Bristol-Myers' Bufferin painkiller and Windex glass cleaner with...
...while. At least Ann hasn't; John is pursuing an affair with her lubricious sister Cynthia (Laura San Giacomo). Curiosity is about the only thing that can be aroused in gentle Ann, and when John's chum Graham (James Spader) visits, she and he swap secrets. Hers: "I think that sex is overrated." His: "I'm impotent." They could be a couple for the '90s: the first postsexual lovers...
...would have been obligated under Delaware law to seek the maximum immediate return to shareholders by auctioning the company to the highest bidder. Paramount's argument that Time's directors were selling the company to Warner rested partly on the fact that the exchange ratio of the proposed stock swap would have given Warner stockholders 62% of the shares of the combined company. In Paramount's view, that situation amounted to a transfer of corporate control...