September 15, 1989 |
British regulators today gave Anglo-French financier Sir James Goldsmith more time to meet a U.S. regulatory challenge to his hostile bid for tobacco and financial services giant B.A.T. Industries PLC. Goldsmith had asked Britain's Takeover Panel to let the $21-billion offer lapse to give him time to overcome U.S. hurdles and make a fresh bid within the next year. His Hoylake Investments Ltd., formed to bid for B.A.T.
May 24, 1996 |
In a major victory for the tobacco industry, a federal appeals court in New Orleans on Thursday dismissed the largest class-action lawsuit ever filed against cigarette makers, concurring with industry lawyers that the suit was so huge that it was unmanageable. The unanimous decision sparked big increases in tobacco stocks on Wall Street and some financial analysts confidently predicted that the biggest legal threat to the industry was now over.
April 30, 1986 |
The stock market suffered a setback Tuesday as investors shed blue chips and technology issues. Electric utility stocks retreated amid continuing reports of a nuclear power plant disaster in the Soviet Union. The Dow Jones average of 15 utilities closed with a loss of 2.93 at 182.65. The Dow Jones average of 30 industrials fell 17.86 to 1,825.89. In the broader market, declining issues outnumbered advances by more than two to one on the New York Stock Exchange as Big Board volume rose to 148.