June 21, 1989 |
Di Giorgio Corp., a food distributor and building materials company, has rejected a $153-million takeover bid by New Jersey investor Arthur Goldberg, the company said Tuesday. In a two-sentence letter to Goldberg dated Monday, Di Giorgio Chairman Peter Scott declared that "the company is not for sale" and said the board was not interested in negotiating with Goldberg. Goldberg, who owns 14.1% of Di Giorgio's common stock, offered $30 a share for the company June 7. At the time, he said the price represented a "significant premium" over what the stock would be worth if it was not surrounded by takeover rumors.
October 13, 1990 |
Investor Arthur Goldberg took charge of Bally Manufacturing Corp. Friday and announced that he will sell assets--which range from casinos to health clubs--to cut the company's staggering debt. Bally also said its Nevada casino unit would miss an $18.4-million interest payment due Oct. 15, prompting Standard & Poor's Corp. and Moody's Investor Service to lower the company's debt rating. Stock in Chicago-based Bally fell 12.5 cents to $3 on the New York Stock Exchange.
January 28, 1990
Our country lost a great American when Arthur J. Goldberg passed away (Part A, Jan. 20). One regret is that he left without writing his memoirs. It would have been historically important to reveal in detail how President Lyndon Johnson persuaded him to leave the Supreme Court for the United Nations ambassadorship. As a dear friend since World War II Arthur told me the story several times, but it deserved public revelation. In effect, Johnson insisted that Goldberg alone, with his vast labor negotiation experience, could help negotiate world peace at the U.N., that it was his duty to mankind to make such use of his talents.
December 19, 1996 |
Hilton Hotels Corp. said it completed its purchase of Bally Entertainment Corp. for $3 billion in stock and assumed debt, transforming the hotel company into the world's biggest casino company. The sale gives Hilton lucrative positions in the two biggest gambling meccas in the U.S.--Atlantic City, N.J., and Las Vegas. The close of the transaction comes after regulators in four states, shareholders and antitrust authorities approved the purchase.