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LEAR SIEGLER AGREES TO BE BOUGHT BY FORSTMANN LITTLE
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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, rising $14.12 1/2 to close at $89.62 1/2 in New York
Stock Exchange composite trading.
The price to be paid by Forstmann Little, a New York investment
concern, is only about $18 mi...
Related newspaper, magazine, and journal articles from HighBeam Research
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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
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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
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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
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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
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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
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