May 2, 1995
Citadel Holding Corp., formerly the holding corporation for Fidelity Federal Bank, said it has agreed to sell 2.9 million shares of Class B common stock in Fidelity Federal to various purchasers at $3.50 per share. The sales, together with Citadel's previously announced sales, will reduce the company's ownership in Fidelity to less than 1% of the Glendale-based savings and loan's outstanding common stock.
April 5, 1995 |
Citadel, Dillon to Settle: Citadel Holding Corp. and shareholder Craig Corp. entered into agreements that would end litigation between the companies and Roderick Dillon and Dillon Investors. Columbus, Ohio-based Dillon, which offered to buy Citadel for $4 a share in January, sued Los Angeles-based Citadel over its issuance of stock to Craig. Citadel then sued Dillon, challenging the accuracy of disclosures it made in filings with the Securities and Exchange Commission.
January 19, 1995 |
Citadel Holding Skeptical of Dillon's Offer: Citadel Holding Corp., the Glendale-based thrift holding company, told Dillon Investors that Citadel is not for sale and that it is has doubts about the $4-per-share bid that Dillon made for the company last week. Columbus, Ohio-based Dillon, an investment partnership that already owns 10% of Citadel's stock, is suing Citadel over its issuance of preferred stock to Craig Corp.
January 11, 1995 |
Dillon Makes Bid for Citadel: The Columbus, Ohio-based private investment partnership said it wants to acquire the approximately 90% of Citadel Holding Corp. it does not already own for about $24 million, or $4 per share, in cash. The stock of Glendale-based Citadel, a thrift holding company, rose 62.5 cents to $3 on the American Stock Exchange. In a letter to Citadel's board dated Tuesday, Dillon said the price represents a 68% premium to the current market price.
November 29, 1994
Citadel Holding Corp., the former parent of Fidelity Federal Bank, reported a net loss of $59.2 million for the third quarter that ended Sept. 30, compared with a net loss of $14.7 million a year earlier. For its nine-month period, Glendale-based Citadel reported a net loss of $165.9 million, compared with a year-earlier loss of $29.8 million. The nine-month figures reflect a $52.
November 9, 1994 |
James Cotter has a history of making waves in other peoples' pools. Now he's getting a taste of his own medicine. Cotter, 58, heads Craig Corp., a Los Angeles firm that is basically a shell through which Cotter has invested in numerous other businesses over the years. He also manages the Forman family fortune, a $300-million-plus portfolio (as estimated by Forbes magazine) built from profits of the family's giant Pacific Theatres movie theater chain.