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Acquisitions Finances

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BUSINESS
April 24, 1991 | ALAN CITRON and MICHAEL CIEPLY, TIMES STAFF WRITERS
Giancarlo Parretti's tenure as chief executive of MGM-Pathe Communications Co. may have ended with his forced resignation last week, but new details of his bizarre business dealings continue to surface even as the beleaguered movie studio struggles for survival.
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BUSINESS
September 23, 2002 | DENA AUBIN, REUTERS
As the trademark deal of the 1980s, the junk bond buyout was the weapon used for raids on corporate giants. Now, it looks poised to make a comeback as financiers seek funding for bigger, costlier targets. A $268-million junk bond sale last week by ConAgra Foods Inc. unit Swift & Co., part of the financing for a $1.4-billion leveraged buyout of the company, could be the harbinger of a raft of such deals to tap the recovering junk bond market, experts say.
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BUSINESS
September 19, 1990 | DENISE GELLENE, TIMES STAFF WRITER
The unions at United Airlines plan to hold a meeting with banks, perhaps as early as today, in an effort to interest them in a new, $3.9-billion offer for the airline's parent, UAL Corp. The new offer of $175 to $180 a share is said to include around $150 in cash. The rest consists of notes worth around $30 a share. The unions, whose members include United's pilots, mechanics and flight attendants, have invited representatives of about 20 banks to the meeting. The unions face an Oct.
BUSINESS
December 23, 1993 | JESUS SANCHEZ, TIMES STAFF WRITER
Paving the way for employee ownership, United Airlines' board of directors on Wednesday tentatively approved a $5.15-billion deal that would leave workers owning most of the giant carrier. The proposed buyout, which must still be approved by stockholders and union members, would make Chicago-based United the nation's largest company owned primarily by employees.
BUSINESS
October 24, 1989 | DENISE GELLENE, TIMES STAFF WRITER
UAL Corp.'s non-management directors said Monday that the company should remain independent, ending efforts by an employee-management group to revive its bid for the parent of United Airlines. The directors, speaking for the entire board, said the group's failed $300-a-share offer had been in the best interests of shareholders--a statement that suggests the board won't entertain a lower bid. UAL stock closed Monday at $178.36 a share on the New York Stock Exchange, up $9.
BUSINESS
October 14, 1989 | DENISE GELLENE, DENISE GELLENE, TIMES STAFF WRITER
The $6.75-billion buyout of UAL Corp., the parent of United Airlines, unraveled Friday when the group led by the airline's pilots and Chairman Stephen M. Wolf said it couldn't raise enough money to finance the deal. The collapse sent the stock market into a tailspin, pushing the Dow Jones industrial average down a stunning 190.58 points, and threw a cloud over billionaire Donald J. Trump's bid for the parent of American Airlines. UAL Corp. shares slid $5.50 to $279.
BUSINESS
October 28, 1989 | GREGORY CROUCH, TIMES STAFF WRITER
Comprehensive Care Corp. of Irvine announced Friday that a crucial merger has fallen apart, pushing the nation's largest alcohol and drug treatment center one step closer to filing for bankruptcy protection from creditors. First Hospital Corp. of Norfolk, Va. withdrew from the merger--approved by shareholders last month--after one of its bankers refused to provide financing for the deal because of Comp Care's deteriorating condition. On Wednesday Comp Care posted a $4.
BUSINESS
August 8, 1990 | NANCY RIVERA BROOKS, TIMES STAFF WRITER
Security Pacific National Bank confirmed Tuesday that it has joined a group of banks searching for financing for the proposed $4.38-billion employee buyout of UAL Corp., parent of United Airlines. But the buyout faces an uncertain future given rising fuel prices, which would add several million dollars to the annual cost of operating the nation's second-largest airline.
BUSINESS
October 17, 1989 | DENISE GELLENE, TIMES STAFF WRITER
UAL Corp. shares plunged more than $56 Monday as the airline's pilots and managers worked to revise their failed $6.75-billion offer for the parent of United Airlines. The steep drop in UAL's shares followed the announcement Friday that the employee group, led by UAL Chairman Stephen M. Wolf, had not been able to raise the $4.2 billion needed to buy the company. The news triggered a sharp decline in the stock market Friday, and UAL's shares fell $5.50 that day before trading was halted.
BUSINESS
April 24, 1991 | ALAN CITRON and MICHAEL CIEPLY, TIMES STAFF WRITERS
Giancarlo Parretti's tenure as chief executive of MGM-Pathe Communications Co. may have ended with his forced resignation last week, but new details of his bizarre business dealings continue to surface even as the beleaguered movie studio struggles for survival.
BUSINESS
September 19, 1990 | DENISE GELLENE, TIMES STAFF WRITER
The unions at United Airlines plan to hold a meeting with banks, perhaps as early as today, in an effort to interest them in a new, $3.9-billion offer for the airline's parent, UAL Corp. The new offer of $175 to $180 a share is said to include around $150 in cash. The rest consists of notes worth around $30 a share. The unions, whose members include United's pilots, mechanics and flight attendants, have invited representatives of about 20 banks to the meeting. The unions face an Oct.
BUSINESS
August 8, 1990 | NANCY RIVERA BROOKS, TIMES STAFF WRITER
Security Pacific National Bank confirmed Tuesday that it has joined a group of banks searching for financing for the proposed $4.38-billion employee buyout of UAL Corp., parent of United Airlines. But the buyout faces an uncertain future given rising fuel prices, which would add several million dollars to the annual cost of operating the nation's second-largest airline.
BUSINESS
October 28, 1989 | GREGORY CROUCH, TIMES STAFF WRITER
Comprehensive Care Corp. of Irvine announced Friday that a crucial merger has fallen apart, pushing the nation's largest alcohol and drug treatment center one step closer to filing for bankruptcy protection from creditors. First Hospital Corp. of Norfolk, Va. withdrew from the merger--approved by shareholders last month--after one of its bankers refused to provide financing for the deal because of Comp Care's deteriorating condition. On Wednesday Comp Care posted a $4.
BUSINESS
October 24, 1989 | DENISE GELLENE, TIMES STAFF WRITER
UAL Corp.'s non-management directors said Monday that the company should remain independent, ending efforts by an employee-management group to revive its bid for the parent of United Airlines. The directors, speaking for the entire board, said the group's failed $300-a-share offer had been in the best interests of shareholders--a statement that suggests the board won't entertain a lower bid. UAL stock closed Monday at $178.36 a share on the New York Stock Exchange, up $9.
BUSINESS
August 5, 1985
The Dallas-based company said that institutional investors have agreed to finance its acquisition of Informatics General, the Woodland Hills software firm. Informatics' board accepted Sterling's $27-a-share, or $140-million, bid in June, after rejecting the company's previous offers. Sterling has said it will issue high-yield debt securities and preferred stock to finance the transaction. Its tender offer for Informatics' stock is scheduled to expire at midnight Wednesday.
BUSINESS
December 23, 1993 | JESUS SANCHEZ, TIMES STAFF WRITER
Paving the way for employee ownership, United Airlines' board of directors on Wednesday tentatively approved a $5.15-billion deal that would leave workers owning most of the giant carrier. The proposed buyout, which must still be approved by stockholders and union members, would make Chicago-based United the nation's largest company owned primarily by employees.
BUSINESS
October 17, 1989 | DENISE GELLENE, TIMES STAFF WRITER
UAL Corp. shares plunged more than $56 Monday as the airline's pilots and managers worked to revise their failed $6.75-billion offer for the parent of United Airlines. The steep drop in UAL's shares followed the announcement Friday that the employee group, led by UAL Chairman Stephen M. Wolf, had not been able to raise the $4.2 billion needed to buy the company. The news triggered a sharp decline in the stock market Friday, and UAL's shares fell $5.50 that day before trading was halted.
BUSINESS
October 14, 1989 | DENISE GELLENE, DENISE GELLENE, TIMES STAFF WRITER
The $6.75-billion buyout of UAL Corp., the parent of United Airlines, unraveled Friday when the group led by the airline's pilots and Chairman Stephen M. Wolf said it couldn't raise enough money to finance the deal. The collapse sent the stock market into a tailspin, pushing the Dow Jones industrial average down a stunning 190.58 points, and threw a cloud over billionaire Donald J. Trump's bid for the parent of American Airlines. UAL Corp. shares slid $5.50 to $279.
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