|
Belzbergs make greenmail look easy
|
The go-go Belzberg brothers of Canada made a killing last week
on Ashland Oil, grabbing a $15.4 million profit amid a lot of talk on
Wall Street about "greenmail."
But the Ashland deal was only the culmination of an incredible
one-month hot streak for Sam, William, and Hyman Belzberg. The trio
of corporate raiders is estimated to have netted about $30 million -
perhaps as much as $40 million - using their traditional greenmailing
tactics against four Big Board companies.
Wh...
Related newspaper, magazine, and journal articles from HighBeam Research
|
WICKES AGREES TO PURCHASE LEAR SIEGLER / CONGLOMERATE WILL HAVE $8 BILLION SALES, $6.5 BILLION ASSETS
The Journal Record
; SANTA MONICA, Calif. (AP) - Two merger agreements may make Wickes Companies Inc. into a conglomerate with more than $8 billion in sales and $6.5 billion in assets, less than two years after it emerged from bankruptcy protection. Wickes succeeded in its latest expansion bid Tuesday night when
|
|
|
AFG PARTNERS ABANDONING OFFER FOR LEAR SIEGLER INC.
The Journal Record
; SANTA MONICA, Calif. (AP) - AFG Partners, which only last week revived its hostile $1.5 billion takeover bid for Lear Siegler Inc., said Monday it was abandoning that offer because of the possible loss of tax benefits. But the partnership, a combination of Irvine, Calif. glassmaker AFG Industries
|
|
|
SMITHS INDUSTRIES PLC TO BUY PART OF LEAR SIEGLER AEROSPACE HOLDINGS
The Journal Record
; SANTA MONICA, Calif. (AP) - British conglomerate Smiths Industries PLC agreed Thursday to pay $350 million for part of Lear Siegler's aerospace holdings, more than doubling its size in that industry. The purchase gives a substantial foothold in the U.S. aerospace business to Smiths, which is
|
|
|
LEAR SIEGLER AGREES TO BE BOUGHT BY FORSTMANN LITTLE
The Journal Record
; SANTA MONICA, Calif. (AP) - After two turbulent months of hostile takeover bids and a failed merger attempt by a friendly suitor, Lear Siegler Inc. agreed Wednesday to be acquired by Forstmann Little & Co. for $2.1 billion. The announcement caused Lear Siegler's stock to surge by nearly 19 percent,
|
|
|
LEAR SIEGLER NEARS COMPLETION OF $2.18 BILLION LEVERAGED BUYOUT
The Journal Record
; SANTA MONICA, Calif. (AP) - The $2.18 billion leveraged buyout of Lear Siegler Inc. neared completion Tuesday, with the buyer announcing that nearly 99 percent of Lear Siegler's common stock had been tendered under its offer. Lear Siegler, a diversified manufacturing concern, is being purchased for
|
|
|
NO BREAKUP OF LEAR PLANNED BY BUYERS
The Journal Record
; LOS ANGELES (AP) - An investment group taking over Lear Siegler Inc. has arranged conventional financing for the $2.19 billion deal, and plans no breakup of the Santa Monica conglomerate, financial records show. The investment group, which is led by the New York firm of Forstmann, Little & Co.,
|
|
|
Forstmann Little to buy Lear Siegler
Chicago Sun-Times
; SANTA MONICA, Calif. (AP) After two turbulent months of hostile takeover bids and a failed merger attempt by a friendly suitor, Lear Siegler Inc. agreed yesterday to be acquired by Forstmann Little & Co. for $2.1 billion. Word of the agreement caused Lear Siegler's stock to soar by $14.12 1/2 to
|
|
|
BANK LOAN DIFFICULTIES MAY END WICKES' LEAR SIEGLER PURCHASE
The Journal Record
; SANTA MONICA, Calif. (AP) - Difficulties in getting bank loans may prevent the $1.7 billion acquisition of aerospace and manufacturing conglomerate Lear Siegler Inc. by Wickes Companies Inc. Wickes said Tuesday it sent a letter to Lear Siegler saying it had ``thus far been unable to arrive at a
|
|
|
AFG RENEWS BID FOR LEAR SIEGLER
The Journal Record
; LOS ANGELES (AP) - AFG Partners has renewed its bid to buy aerospace-manufacturing conglomerate Lear Siegler Inc. for $85 a share after Wickes Companies announced it was abandoning its $93-a-share offer. The investment group, composed of Irvine glass manufacturer AFG Industries and the Texas-based
|
|
|
LEAR SIEGLER EXEC ASSURES HOLDERS PROFIT ON HORIZON
The Journal Record
; BEVERLY HILLS, Calif. (AP) - The head of Lear Siegler Inc., which recently received a $1.51 billion unsolicited takeover bid, on Wednesday tried to assure shareholders that profits would improve after a 45 percent drop in fiscal 1986. Norman Barkeley, the company's chairman, chief executive and
|