Word: tendered
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...WILLIAMS: ROGER! (Kapp). There are times when Roger seems possessed of 20 trigger-happy fingers as he ripples through the Beatles' And I Love Her or the theme from The Sand Pebbles. His fluent, if florid, piano style embellishes a light-hearted Georgy Girl, ranges from stirring to tender on the theme from Black Orpheus, and rollicks through the Monkees' tune, I'm a Believer...
...people under 30 know who wrote these lines, but the perceptive will readily date them from the 1920s. They have that slightly posed air of gay gallantry and tender toughness that marked the era of "But Jesus we had fun." After four decades, its heroes and heroines look as comically self-conscious as silent-movie characters, trying to gather their rosebuds in vigorous deadpan. What comes through most clearly is the sentimentality lurking beneath. Hemingway, hard as nails on the outside but soft as a baby impala on the inside, was an archetypical son of the era. And Dorothy Parker...
...most difficult decision for attackers is how much above the going market price to offer for stock they covet. In a study of 50 contested tender offers, Columbia University Professors Samuel L. Hayes III and Russell A. Taussig recently found that the average premium was 16%, though lower-priced stocks ($10 to $20) often required an extra sweetener...
Strategy for Defense. Though resisting tender offers is difficult, Hayes and Taussig figure that the odds nevertheless favor the defense by a 2.86-to-l margin. Defenses are many. Racine Hydraulics & Machinery fought off a takeover bid by Bucyrus-Erie Co. not long ago by writing and telephoning some 3,000 stockholders, joining a hastily formed committee of Racine citizens in buying up its own shares in the market. Sharon Steel Corp. boosted its annual dividend from 60? to 80? a share to help fend off a tender offer by Honolulu Industrialist George W. Murphy. Julius Garfinckel & Co., the Washington...
Protecting the Stockholder. Despite their swift ascendancy, cash tender bids remain beyond the scrutiny of the SEC-a fact that enhances their popularity. But the SEC feels that "the unwary public" needs protection, notably more information to help stockholders evaluate confusing claims of rival tender offers. Accordingly, the commission is backing a bill by New Jersey's Democratic Senator Harrison Williams that would require a tender bidder to disclose his name, financing arrangements, and any plans he has for the firm. Though most brokerage firms and investment bankers favor regulation, many disagree with one part of the bill, which...