Word: woolworths
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With acquisition in mind, a Toronto investment management company that has $380 million in cash from the sale of a Brazilian utility, found its billion dollar baby in a 5 and 100 store. The company, Brascan, Ltd., announced last week that it was offering $1.1 billion for F.W. Woolworth Co., one of the largest cash takeover bids ever...
Though the offer would come to $35 a share for stock that had been selling in the $23 to $26 range, Woolworth angrily rejected it. Chairman Edward Gibbons called the bid "grossly inadequate" and said that it raised "moral and ethical questions of the most serious nature." Woolworth has brushed up its stodgy image by posting record sales of $6.1 billion and earnings of $130 million in the last fiscal year, and it is roughly four times larger than Brascan. To help finance the takeover, Brascan would have to borrow $700 million from the Canadian Imperial Bank of Commerce, which...
...theater-in-the-round with some 300 seats. He puts on new works and old, but every year, shortly after Christmas, he is certain of one production, a new play by Alan Ayckbourn. Some time in November he sharpens his pencils, gets out his pad of paper from Woolworth's and shuts himself up. Heather can tell when the time is approaching because "he gets slightly weirder and gradually slips into his night routine," writing from 9 p.m. until dawn. A week later he emerges with a new play. Some actually take only six days. One, The Norman Conquests...
...April, the Coop hopes to expand into the shopping mall that will be built on the site formerly occupied by F.W. Woolworth's, Zum Zum's and Chez Dreyfus. The four-story complex will contain two restaurants and four or five retail stores, including the Harvard Book Store's textbook, used paperback and law book outlets...
...stalls typically are filled with a smorgasbord designed to appeal to every taste, from used goods to discounted, discontinued lines of new merchandise. Aficionados claim that the larger markets offer one of everything ever made and two of everything Woolworth ever sold. There are Army uniforms, ladies' spats, metal detectors, Roosevelt buttons, Wallace buttons, Nixon buttons, toilet seats, hubcaps, ski boots, gum ball machines, telephones, dried fruit, perfumes, crutches, jump ropes and Christian Dior shirts...