August 19, 1990 |
FarWest Savings had long been a good investment for the Belzberg brothers of Canada--Samuel, Hyman and William. Acquiring FarWest in 1974 gave the Belzbergs a foothold in the United States. Then, using the Newport Beach thrift and First City Financial Corp. Ltd. in Vancouver, Canada, they became among the most feared corporate raiders and takeover strategists on the U.S. scene during the 1980s. Often acting as greenmailers, their hostile bids made them millions of dollars. But today, their U.S.
March 30, 1986
Chuck Davis, executive vice president of CBI Properties, Northridge, has reported the completion of sales transactions exceeding $3.15 million for the Bekins Co. They included a 15,000-square-foot facility at 1572 Warner Avenue, Huntington Beach; a 20,500-square-foot building at 99 Hyde Court, Daly City, and a 20,550-square-foot warehouse at 77 Hamilton Drive in Novato.
October 1, 1997 |
International Logistics Ltd., a cargo mover headed by the Los Angeles investment firm William E. Simon & Sons, said it bought Britain-based freight carrier and logistics provider LEP International Worldwide for an undisclosed price. The function of a logistics firm is to move and temporarily warehouse mostly corporate cargo. Privately held Simon said the acquisition would double its annual logistics sales to $1.6 billion and give the firm 1,000 offices in 75 countries.
November 5, 1996 |
International Logistics Ltd., a cargo mover headed by the Los Angeles investment firm William E. Simon & Sons, today is expected to announce the purchase of LEP North America, a freight carrier based in Marietta, Ga., people familiar with the transaction told The Times. The price could not be determined. Logistics firms move mostly corporate cargo.
December 19, 1986 |
Corporate raider Irwin L. Jacobs' Minstar Inc. said Thursday that it agreed in principle to sell Bekins Co. of Glendale to its management. Terms of the transaction were not disclosed. Minstar said it will retain a stake in the 95-year-old moving and storage company after the leveraged buyout but did not disclose the size of its future holdings. In a leveraged buyout, a company is purchased with borrowed funds that are repaid with cash generated through company operations or the sale of assets.
November 14, 1985 |
Minstar Inc. has agreed to sell five business units--including three operations of AMF Inc.--for about $110 million to reduce its debt, according to Minstar's chairman, Minneapolis financier Irwin L. Jacobs. Included with the sale of three units of AMF, which Minstar acquired in a $525-million hostile takeover last summer, was the $42- million sale of Minstar's Los Angeles-based Minstar Record Management unit to Bell & Howell Co. Minstar acquired Bekins Co.